Peter Schramme, our Chief Business Development Officer, gave an outstanding speech about digital engagement last Thursday in London, during a private seminar organized by ComPeer.
The location was the gorgeous Tallow Chandlers, headquarter of a London trade guild, almost 550 years old. The best place, by contrast, to host a speech about new ways to think about “Digital Engagement and Collaboration as Business Differentiators”.
The entrance to Tallow Chandlers. Historic place, to talk about the latest digital experiences.
Experience Is Everything
Customer experience is the single most important factor in digital engagement in the financial advisor space, said Peter; the top four causes for switching to a different financial advisor are all communication-related, often as trivial as not returning phone calls or email in a timely manner. Does digital technology help ? How to create a sticky relationship within a gradually more virtual client engagement ?
And, as research points out, most customers make decisions after using more than one device, i.e., starting on a PC to go to a tablet or a smartphone; paths to decision are vastly different and the right strategy is to give a compelling consistent experience whatever the touch point.
Collaboration Is a Starter
Thus, when designing a digital wealth solution, such as Objectway’s Conectus, the keywords are omni-channel, omni-device, real-time and collaboration. Access from every platform is not enough if there’s not a collaboration layer for enabling an effective engagement between client and advisor.
Unbundling the customer experience from the back-end platforms and unifying the customer experience along customer journeys will create the future-proof ecosystem for the ‘Connected Investor’.
In the long run, however, the difference will be made on features that go well beyond today’s portable and responsive UI-designs. Peter went on identifying four differentiating features to watch:
- Usage analytics.
- Virtual personal assistance.
- Advanced personalization.
- Social media monitoring.
Connect with clients and their digital lifestyle
A future-proof digital wealth experience strategy will be one that can create actual engagement by satisfying the multi-facetted desires of the end client. Any desire, from a good web portal over support for chat, co-browsing and video to a complete empowered mobile experience.
Automation will be another key factor in order to provide high levels of personalization in an operational-excellent fashion, hence pursuing the (apparently) elusive goal of mass customization – less a contradiction than it may sound.
Customer experience, client-advisor collaboration, automation are key pieces to build solutions that appeal to the digitally empowered clients and that are really future-proof, even in this era of continuous change in technology, regulations and customer demands.
Energetic and convincing at his best. Compliments, Peter!