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How Financial Advisers can build a robust digital infrastructure in a virtual world

How Financial Advisers can build a robust digital infrastructure in a virtual world

Derek Notman
Virtual Financial Planner and Founder at Conneqtor
Derek Notman
Virtual Financial Planner and Founder at Conneqtor

How Financial Advisers can build a robust digital infrastructure in a virtual world

As financial advisors begin to come to terms with the future of managing their practice in a virtual world, understanding the phrase ‘robust digital infrastructure’ will become increasingly important.

The phrase encompasses the tools, processes and strategic plan required for financial advisors to thrive in a world that continues to advance exponentially within the realm of technology. While the modern-day consumer has already embraced this way of life, financial advisors have been slow to adopt ways in which they can meet consumer needs within the virtual space.

As the days of cold-calling and an over-emphasis on ‘making the sale’ begin to phase out, advisors need to turn to what is known as a robust digital infrastructure to grow their audience by providing genuine value to the consumer using a variety of virtual formats.

This marks the age of the virtual financial advisor!

So what is a digital footprint?

It’s the entire electronic virtual environment you create for yourself online. It includes everything about who you are, where you are from, what you do. This isn’t to say you need to share what you had for breakfast (and I highly recommend you don’t). You can however create highly professional, personable content using various digital formats giving people the chance to get to know you better on their terms, so that when they’re ready to reach out to you, they can.

Having a robust digital infrastructure is more than just having a website or one single social media channel. It’s really a bunch of digital pieces working together in concert which becomes this amazing machine that works for you 24/7.

I recently created a matrix of the ‘Inbound Client Acquisition Model’ with six categories (which I shared in my XY+ web event) which includes social media, live virtual seminars, your website, your email, paid advertising and referral partners.

Before you dive into any of this though, you need to know your ideal client.

And before you identify your ideal client, you have to know who you are. What are your hopes, dreams and goals for the future? The reason this is important is because it doesn’t just drive who you’re going to work with but also how you show up online – your branding, your personality, how you engage with people digitally.

Once you’ve identified these two things, you can then pick a couple of places to get started on your digital footprint journey.

Here’s just one example:

One of the social networks I’ve adopted is LinkedIn. I chose LinkedIn because I know this is where my ideal clients hang out and it’s free to use. Sure, you can pay for some of the add-on services but it’s not essential.

There’s about 600 million people on LinkedIn. About 90% of these people are what I refer to as ‘creepers’. They’re the people who watch what other people are doing but they never engage. To me, that’s weird. It’s like going to a cocktail party, standing next to the plant in the corner watching everybody but not actually saying anything to anybody.

You’ve then got 9% of people on LinkedIn who do engage, but not really. They might like a post or add a comment here or there.

Here’s where things get interesting. You’ve now got about 1% of LinkedIn users actually producing content for others to consume. As an advisor, where can you go where you only have 1% competition? The question then becomes, how do you maximise this opportunity to get in front of your ideal clients?

You create content that is educational, that tells a story, that resonates with what people are thinking and feeling, that answers questions that are in people’s minds and that which engages people.

This gives your ideal clients a sense of who you are as a person, as a professional, as an advisor.

Your digital footprint is waiting… how are you going to leverage it?

 

Connect with Derek in the XY platform HERE

Check out Derek’s LinkedIn profile HERE

04/06/2020 ago

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Category:

Technology

As financial advisors begin to come to terms with the future of managing their practice in a virtual world, understanding the phrase ‘robust digital infrastructure’ will become increasingly important.

The phrase encompasses the tools, processes and strategic plan required for financial advisors to thrive in a world that continues to advance exponentially within the realm of technology. While the modern-day consumer has already embraced this way of life, financial advisors have been slow to adopt ways in which they can meet consumer needs within the virtual space.

As the days of cold-calling and an over-emphasis on ‘making the sale’ begin to phase out, advisors need to turn to what is known as a robust digital infrastructure to grow their audience by providing genuine value to the consumer using a variety of virtual formats.

This marks the age of the virtual financial advisor!

So what is a digital footprint?

It’s the entire electronic virtual environment you create for yourself online. It includes everything about who you are, where you are from, what you do. This isn’t to say you need to share what you had for breakfast (and I highly recommend you don’t). You can however create highly professional, personable content using various digital formats giving people the chance to get to know you better on their terms, so that when they’re ready to reach out to you, they can.

Having a robust digital infrastructure is more than just having a website or one single social media channel. It’s really a bunch of digital pieces working together in concert which becomes this amazing machine that works for you 24/7.

I recently created a matrix of the ‘Inbound Client Acquisition Model’ with six categories (which I shared in my XY+ web event) which includes social media, live virtual seminars, your website, your email, paid advertising and referral partners.

Before you dive into any of this though, you need to know your ideal client.

And before you identify your ideal client, you have to know who you are. What are your hopes, dreams and goals for the future? The reason this is important is because it doesn’t just drive who you’re going to work with but also how you show up online – your branding, your personality, how you engage with people digitally.

Once you’ve identified these two things, you can then pick a couple of places to get started on your digital footprint journey.

Here’s just one example:

One of the social networks I’ve adopted is LinkedIn. I chose LinkedIn because I know this is where my ideal clients hang out and it’s free to use. Sure, you can pay for some of the add-on services but it’s not essential.

There’s about 600 million people on LinkedIn. About 90% of these people are what I refer to as ‘creepers’. They’re the people who watch what other people are doing but they never engage. To me, that’s weird. It’s like going to a cocktail party, standing next to the plant in the corner watching everybody but not actually saying anything to anybody.

You’ve then got 9% of people on LinkedIn who do engage, but not really. They might like a post or add a comment here or there.

Here’s where things get interesting. You’ve now got about 1% of LinkedIn users actually producing content for others to consume. As an advisor, where can you go where you only have 1% competition? The question then becomes, how do you maximise this opportunity to get in front of your ideal clients?

You create content that is educational, that tells a story, that resonates with what people are thinking and feeling, that answers questions that are in people’s minds and that which engages people.

This gives your ideal clients a sense of who you are as a person, as a professional, as an advisor.

Your digital footprint is waiting… how are you going to leverage it?

 

Connect with Derek in the XY platform HERE

Check out Derek’s LinkedIn profile HERE