Half of clients (52%) don’t open or read the majority of emails from their financial advisor, according to a new survey¹ by Life Stage Insights, a marketing technology company that empowers financial advisors to automate deep connections with prospects and clients. The top reason clients say they don’t read their financial advisor’s emails is that too many don’t address topics that are important to them.
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“Email remains one of the most important ways for financial advisors to build their relationships with prospects and clients,” said Life Stage Insights CEO David Baxter, “especially since in-person meetings are less feasible during COVID-19. Email newsletters can be highly valuable to clients and helps keep them informed in difficult market conditions.”
“However, advisors’ emails often get lost in the crowd,” said Baxter. “Most people are overloaded with information. Breaking through the clutter and being highly relevant to prospects and clients is one of the biggest challenges advisors face.”
THE POWER OF HYPER-PERSONALIZATION
Increasingly, financial advisors are turning to new technologies to make their client engagement strategies much more impactful. One of the most significant innovations is “hyper-personalization”: delivering only the most relevant messages and solutions to address the unique needs and priorities of each client.
Recent research shows hyper-personalization works. 40 percent of executives report that their customer personalization systems have delivered strong results in maximizing sales and profits.² Studies show personalization can reduce acquisition costs by as much as 50 percent, lift revenues by 5 to 15 percent, and increase the efficiency of marketing spend by 10 to 30 percent.³
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