We all know that financial advice is a trust-based business. Whether you’re speaking with prospects or discussing recommendations with current clients, trust is critical to your conversations. But how can you build and increase trust working virtually in today’s world?
Especially during tough times and market volatility, it’s critical for advisors to create authenticity in their virtual communications. This means staying in front of clients regularly, creating heartfelt messages, and taking advantage of video technologies where possible.
Before You Start: Make Sure You Are Working Your CRM
Your Customer Relationship Management (CRM) software heavily comes into play when choosing how to communicate and with which clients. I recommend Wealthbox or RedTail.
Once you have your CRM established, make sure your clients are segmented. One easy way to do that is to ask yourself questions like:
- Are they an A, B, or C client? You may want to call A clients every week or two but email with C clients.
- Is their account actively managed/discretionary? It may be appropriate to give specific updates on their accounts.
- What does their overall professional situation look like right now? If they are a business owner or healthcare professional, you’ll want to be aware.
- Are they close to or in retirement? Clients worried about cash flow may need more attention.
- How often do they typically like to hear from you? By phone or in person? Older clients used to meeting in person may do better with phone calls than emails.
- Do they have outside accounts that need to be addressed? Make sure you’re addressing their whole financial picture.
1. Let Them Know You Are There For Them Virtually
Sometimes it can placate clients just to know that you’re on top of the situation and available to answer their questions. If you don’t already have an online calendar scheduler, set one up and email all of your clients to let them know how to schedule a call. Bonus tip: Remind them that you’re never too busy to help their friends and family.
2. Offer Virtual Video Or Screen-Sharing Meetings
Virtual meetings often create greater connections because you can video chat and actually see your clients. You can also share your screen to review illustrations and information.
I like to recommend GoToMeeting. You don’t have to be tech savvy and you’ll find the software very resourceful and intuitive. Here’s my quick how-to guide to get started working virtually: How to get started with GoToMeeting.
3. Consider Sending Video Updates
One good thing about the coronavirus chaos is that standards have come way down when it comes to creating your own video communications. Even lead news anchors are recording their segments from their kitchen tables. If you haven’t started using video to communicate with your network, now is the perfect time. Watch this video on my recommendations for creating your own videos.
4. Ask For Feedback
The world is turned upside down right now, and clients are understandably nervous about their financial plan. Sometimes the best thing to do to keep your clients satisfied is to ask what you can do to help. Their feedback can give you good ideas to improve your service and understand their needs better. Simply asking, “What can we do to help you at this time?” can go a long way.
Consistency is key to build and increase trust working virtually. Communicating regularly allows people to know what to expect from you and calms their fears. I recommend staying in front of your clients once a week during absolute market chaos like the last few weeks, then once every other week as things settle down.
If you need help with your marketing, that’s what we do best. Our existing clients are staying in front of their clients with recent posts like:
- What To Do About The Bear Market
- We’re Here For You Virtually
- Schedule A Call Online Today
- What Should You Do With Your 401(k) Now?
- How To Protect Your Wealth During A Recession Or Depression
If you think this would be helpful for your firm, we’d love to support you. To get started on your marketing plan, use this link to schedule a call with our team today.