FROM THE BLOG
The Power of Proactive Communication
Posted by Prospera Financial on November 12, 2024
Imagine it’s a turbulent market (in an election year, it can’t be that hard to picture). The news is in a frenzy about the stock market crashing, the Fed is about to make some moves, and you’re gearing up for a day of panicked phone calls and emails from clients. But your phone doesn’t ring, and all is calm in the office. Do you know why? You’ve been preparing your clients for moments like this throughout their relationship with you.
Markets fluctuate and can sometimes do some pretty weird things that leave clients worrying about their future, their kids’ education funds, and their retirement. However, a good communication plan and a steady voice from an advisor can prime investors to stay the course and not panic at the slightest inkling of a falling market. How do you be that steady voice? A solid and thoughtful communication plan that keeps you top of mind for your clients throughout the year, not just when times are tough.
There is some low-hanging fruit out there that you can take advantage of when you’re considering how you can make impactful connections with your clients.
- Breaking news? Address it fast with your clients. According to FMG, timely emails on current events get double the open rate.
- At the beginning of the year, set up a contact calendar so you and your staff are on the same page about which clients are being contacted and when. You don’t want to let it go too long without a client hearing your voice. A calendar ensures no clients are slipping through the cracks.
- Automate your social media posts as much as possible. Find a great partner in content posting to make your job easy with a set-it-and-forget-it social media strategy.
According to a recent study by YCharts (1), 1 out of 3 clients say they are contacted infrequently, rarely, or never by their financial advisor. What’s more, those clients said they have a confidence level of only 22% in their financial plan should the U.S. enter a recession. Start making moves towards creating a meaningful communication strategy with clients to ensure no one gets left behind.
Talk soon,
Katie Mohan
Marketing Manager
Source: 1. https://go.ycharts.com/hubfs/YCharts_Advisor_Client_Communication_Survey_2024.pdf
