A decade goes by in a blink of an eye, but when you look back at those ten years, it’s often incredible how much actually happened. The new year is still just getting started, but before we look ahead, I want to head back into the past for a moment, as I think it’s important to see how far we’ve come.
Ten years ago, advisors had a completely different outlook on technology. It was a year before the iPhone was even introduced. Mobile apps and making sure websites worked on 4-inch screens existed only in dreams, if even there. Getting a custom logo on a printed paper statement was an exciting customization.
I think when you look at these simple examples, it becomes even more amazing what advisors have access to right now through technology. It shows that we’ve reached a place where advisors will be looking for tools that help grow their business outward, not just streamline it internally.
The Technology We Have Today
We’ve officially crossed the robo-frontier and are living in a digital industry. As more prospects are digitally savvy, it’s more important than ever for advisors to keep pace in order to remain competitive.
It is important to take an inventory of your digital assets and how they are doing at meeting your client needs. Start by reviewing your Google Analytics reports each month to get a feel for how your homepage is serving your existing clients and prospects. Consider plugging in a tracking tool like Pardot so that you know who is visiting your site and what their interests are, and come up with a use score. You can also use these tools to determine the effectiveness of your market update blogs, so that you know when you are resonating with your clients.
Beyond your homepage, move your communication into your client portal. Make sure that you know what clients find most valuable within your portal by looking at utilization stats. Review what pages and reports are being used the most, and make sure that these showcase your value proposition, enabling positive conversations with your clients about their portfolios and goals.
When advisors know their business and clients better, they can make better decisions about the services offered, and how those services help them extend their value. Compared to a decade ago, advisors now have the technology available to connect business intelligence tools that give them a fast and simple high-level analysis into their business.