How Will Your Client Experience Need to Evolve?

If you find yourself waiting for the memo that lets you know it’s “all clear” and your life and business can get back to normal, you may be in for a long wait.

We’ve all changed.  Our needs have changed and our expectations have changed.  The way we work and connect has changed.  It’s true for us and it’s true for your clients.

And it turns out that some of those changes aren’t so bad. I’m not the first to point out that the pandemic has accelerated the shift toward a different (dare I say better) client experience. 

As a result I believe you are sitting at a fork in the road. 

  • You can refine your client experience to reflect the evolving needs of your clients, or
  • You can revert back to the way things have always been done.  

It will be no surprise that I sit firmly on the site of evolving the client experience to reflect what your clients need, want and expect right now

Today your choices are limited by circumstance, however that isn’t forever.  It’s at the point when there is a choice that we’ll see two groups of advisors emerge.  The first group will embrace change and take an intentional approach to enhancing the client experience. They will take the lead and everyone else will start playing catch up.

So the question for you is simple.  How will your client experience evolve?

Based on our latest investor research, and the input of thousands of clients through our Client Insights Program, we believe you need to answer some key questions.

  1. Do my clients want to meet more or less often? You may have increased the level of contact and that may have an impact on expectations for the foreseeable future.
  2. How do my clients want to meet? Are clients appreciating web meetings now that they are experienced in using the technology?
  3. Are my clients using social media more to connect with friends and family? And does that open up an opportunity or expectation for how you show up socially?
  4. Do my clients expect more self-service options as they become used to being more self-sufficient online?
  5. How, if at all, have the concerns and challenges of my clients changed? And what does that mean in terms of the content and communications that you share?
  6. Are my clients having different conversations about their future? And how are you helping guide clients in thinking through those issues?
  7. Are new fears or worries emerging that I need to address through additional services (e.g., insurance)?
  8. Are my clients’ values shifting in a way that would be supported by different conversations, such as charitable giving?

Our most recent investor research was a stark reminder that our emotions, needs and challenges are impacted significantly by circumstance.  They are fluid, and during times of uncertainty they are more fluid than ever. 

We cannot assume we know what clients need and how they are feeling.  We not only need to ask the right questions, but have a plan in place to respond.

So what’s your plan?

Related: Are You Ready to be a Financial Advisor that Leads?