Every client likes to communicate with their professional and financial services advisers differently so be careful not to make assumptions based on the likes of age and profession, writes Kat Mitchell.
Responsible reporting and messaging to clients are key for accountants, lawyers and financial planners at the moment. Get the message right and your clients are more likely to understand your value. Get it wrong and you risk adding to the anxiety.
A rather worrying survey from NMG Consulting was released this week which said that only 60% of advisers had scaled up proactive contact with their clients. 91% said they rely on the phone to maintain client contact and 26% said they would not even consider video conferencing.
One reason behind this concerningly low figure of advisers using video conferencing could be a misplaced belief that their clients would not like to use such technology due to their age. This most certainly is not true as our Managing Director and Finance Director would attest. They are both using video conferring tool Zoom and Facetime to keep in contact, professionally and personally, on a daily basis. They have even hooked up the laptop to the TV in order to get a better picture for group video calls.
I read an interview with financial planner Nicola Watts on the Financial Planning Today website with interest. She reminds her fellow planners not to make assumptions and that even clients in their 80s are appreciating their client meetings going ahead via Zoom.
The editor of the same publication also notes that clients will expect more frequent contact from their financial planners, particularly as many clients are likely to be in the age group who are most concerned about their pensions (the 55-64 age group according to Aegon).
Coronavirus is likely to prove a crunch time for advisers with elderly or vulnerable clients. There is an interesting podcast on Money Marketing from the Society of Later Life Advisers with some tips for honing your soft skills here: https://www.moneymarketing.co.uk/analysis/vulnerable-clients-in-the-time-of-covid/
Think beyond the normal
Where looking to communicate a broad message to your clients, mass communications such as podcasts, email newsletters, and social media posts continue to have a useful role to play.
When thinking about mass client communications it can be tempting to create crisis-only content. However, constant negative messaging is likely to turn your clients off.
General content can be useful to your clients such as sharing tips from your team on working from home, apps that might support clients, information on local volunteering opportunities and where to find help in the community should they need it. Also consider sharing what you and your team are doing to help the local community, and any struggles you are facing, as it can help to put a more human face on your brand.
However, it is important to remain sensitive in your messaging. Remain aware of the situation facing your clients, and the country, and the context of what you are saying when drafting any general communications.
Make sure you get it right as the last thing your brand needs is for you to send out tone-deaf communications that anger or upset already anxious clients.
We can help
When it comes to getting the tone right with marketing communications it can be a fine line to tread.
Words may not be your thing, or maybe you just want to make sure you’re getting it right. If in doubt discuss your plans with a good communications professional. Afterall, communications with the wrong tone can be worse than no communications at all.
Communications professionals can act as a word smith, as well as providing broader advice on how to communicate any messages you want to share.
We can help make sure your communications are as clear as can be, as well as helping you gain the confidence to step outside your comfort zone.
Those accountants, legal and financial advisers who do proactively contact their clients to listen to and calm clients’ fears, will likely come through this crisis with much stronger client relationships than those who waited for clients to come to them.
Brandon Consulting Services Ltd 