Managing Your Growth Strategically

Growing Your Client Base and Increasing Customer Wallet Share

Attracting new clients, increasing loyalty, growing wallet share – all financial services know these goals well, yet they constantly struggle to continuously deliver on them. Why? Because strategic growth is difficult, and it’s particularly difficult in an environment of increasing regulatory requirements and historically low interest rates.

Streamlining and automating activities like client onboarding can help you increase speed to revenue, improve the customer experience, and allow staff to capture information about client needs for later sales initiatives. This information can be used to create more targeted customer messaging, connect with your customers more effectively and ultimately grow your relationships with them.

Harnessing the Power of Data to Build Your Book of Business

There are so many opportunities to capture actionable client insights across all your customer touch points. The challenge is to set the scene so this comes naturally, and then find a way to intelligently capture and effectively act on this customer intelligence going forward.

By implementing customer relationship management, supported by easy to use business analytics you can capture the key data, store it, and then use it as the basis for cross-sell/up-sell initiatives that really work. A great way to do this is to leverage your data to present targeted offers that resonate better with different client demographics, right on your customer statements .

Attracting a New, Younger Audience

This also helps attract and retain younger generation clients that are so important for your long term growth. A fully digital client onboarding experience, which includes mobile onboarding and integrated e-signatures, is a requirement for this demographic, as is a rich online experience post onboarding. What better way to address this than by providing Gen Xers with enhanced eStatements, available online 24/7, and packed full of links to great educational content and targeted offers.

Improving the Investment Advisor Experience

Finally, to sustain your firm’s growth, you also need to get the right advisors on board and keep them happy. Thankfully, the same technologies that help you attract new clients can also help you attract and retain top-tier advisors. Because smart client onboarding software helps your advisors go mobile, serve more clients, and ensure that all those new client applications and asset transfers are being completed easily and accurately the first time.

Ready to Start Increasing Your Wallet Share?