Providing relevant, engaging and compliant content at all stages of the customer journey is a key element of a compelling client experience. A front-office sales enablement platform such as Interactive Advisor helps financial advisors create this experience. By enabling easy access to compelling content at the right time and the right place, the right platform can boost client engagement and trust and make the lives of financial advisors much easier.
Clients have individual needs and wants. Their financial situations and challenges—like anywhere else—are unique. Providing personalized content serves to reassure clients that their providers understand them as individuals. This understanding helps financial providers give clients what they need and feel in control.
It also helps them perceive a difference between selling and empowering them to make their own decisions, thus providing the evidence that their advisors are working in their best interests, which marks the beginning of trustful long-term client-advisor relationships.
The digital age has heightened expectations for a contextualized customer experience. Clients have become used to receiving what they want. As a result, they gravitate towards financial providers that recognize them as individuals.
A digital sales enablement platform can offer this contextualized customer experience. It gathers the data needed to respond with tailored content resulting in a continuous dialogue along each step of a client’s journey.
Content is also effective in fueling client engagement, and digital sales enablement technology has helped evolve the content experience for both client and advisor. Processes that foster interaction can be made visible to both in a storytelling approach.
For example, Adviscent recently developed and tested a prototype with financial advisors and their clients, using CIO content to visualize risk. The data was contextualized to represent a client’s individual investments and investment goals. The interface allows the user to immediately see how a portfolio would be affected by a certain geopolitical risk, enabling clients to explore and discuss scenarios with their advisors.
The test results showed that investment storytelling helps clients felt more in control of decision-making and more positive about the banks they are giving their business to. The digital age has also elevated expectations of being in control. Psychologists have long known about the strong correlation between perceived control and customer satisfaction. Giving clients a sense of empowerment or control by involving them in the decision-making process meets a clear human need. Furthermore, clients receive the opportunity to boost their financial literacy.
Digital sales enablement platforms are successfully striking a balance between personalization and compliance. For regulated industries such as financial services, the quality of content is critical and at the same time very time and resource intensive. For this reason, many are looking to increase their automation capabilities to produce timely and accurate content. Content that comes from a sales enablement platform can guarantee compliance e.g. with MiFID rules.
The value of wealth management front-office enablement
By paying equal attention to client expectations and perception of their treatment as individuals at different touchpoints and throughout the customer journey. The more financially educated, empowered, and engaged a client feels, the better for long-lasting relationships.