In my last blog, we explored how persona-based segmentation is key in informing advisors on how best to communicate and provide investment advice to their clients. In our view, the best way to make the most out of your client relationships is to know what they need, when they need it, and be the one to meet that need.
The right message sent to the right person at the right time through the right channel can change the world, meaning:
- It’s important to bridge the gap by communicating in a relevant way and building a relationship of comfort, familiarity, credibility and trust.
- It is crucial to have regular communication with your clients that strengthens your relationships so that in hard times, you can walk anxious clients “off the ledge,” so to speak.
- Communicating on their terms is essential to letting clients know you understand their concerns and needs.
Today clients have access to endless information via multiple channels, including email, websites, social media, radio, TV and podcasts. But most of what they are exposed to is irrelevant noise, which can be distracting, so people now tend to suffer from too much information, as opposed to not enough.
As a former advisor, I recall the daily morning calls I would get from clients having to explain why the latest recommendations on TV were not necessarily appropriate for them. I quickly realized that, in addition to providing investment advice, I also had to play the role of a content curator to differentiate the information that is important versus what is just interesting.
Customer segmentation and persona identification are shortcuts that allow you to leverage client data to improve communication — to deliver content that not only informs, but more importantly, content that connects. As I mentioned before, there is no shortage of communication mediums, and each can serve a unique purpose depending on your objectives.
Your clients are not all the same, so your messaging shouldn’t be either. Email continues to be the killer app, allowing advisors to connect with clients and prospects on a one-on-one basis with personalized messages.
Today more than ever, clients are fighting off noise from multiple sources to get to useful information. As a curator of key information, you can leverage your unique website/blog and newsletters to share relevant information that will resonate with your key audiences.