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Originally posted on Globe Advisor
The key to standing out in the world of financial services isn’t just providing sound financial advice – it’s knowing your clients and offering advice at important moments of their lives. This is the bedrock of life event-based marketing, a strategy that allows financial advisors to deepen relationships with clients by aligning marketing with key milestones. Such a tailored approach not only enhances engagement but underscores the advisor’s role as a trusted partner throughout the client’s life.
These milestones – which include buying a home, getting married, having children and retiring – are pivotal as they reshape the client’s financial landscape and emotional world. By understanding the importance of these moments, advisors can anticipate changes in their clients’ needs and priorities, providing advice that is deeply relevant.
The effectiveness of life event-based marketing hinges on personal communication. In a world cluttered with generic messages, speaking directly to a client’s circumstances cuts through the noise. For example, an advisor might send a personalized note or a tailored financial checklist to a client who has just had a baby, demonstrating compassion and an understanding that goes beyond mere numbers.
Technology can help, with modern advanced customer relationship management systems able to track client milestones and provide analytics tools that can predict future needs. Automating personalized communications ensures messages resonate with the right client at the right moment.
Implementing a life event-based marketing strategy starts with segmentation, dividing clients according to life stages and anticipated milestones for targeted communications. Engagement should extend beyond just financial advice and celebrate the milestones to build loyalty. An important component of this strategy is the feedback loop, in which advisors seek and act on client feedback regarding the support provided at those key moments.
Life event-based marketing offers advisors a way to become indispensable partners in their clients’ lives. By leveraging the emotional and financial significance of life’s milestones, advisors not only enhance client engagement but also position themselves as irreplaceable guides through life’s complexities. As the financial landscape continues to evolve, the ability to provide personalized and timely advice tailored to each client’s unique circumstances will become increasingly valuable.
HeyAdvisor is a digital content library that financial advisors leverage to connect with their clients. The highly engaging educational library of videos and infographics is white-labelled with advisor branding and can be integrated into email marketing campaigns, websites, client portals and social media. The intuitive library is grouped by life events making it easy to add value to the client relationship at times in their lives that matter most. Review our plans here.
