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Most advisors will tell you they are “tech savvy” and utilize the “latest technology.” That may be true, but I have a couple of suggestions you may not have considered.
I wish my doctor was more tech savvy. His office called and asked me to “fax” information to them. I responded by inquiring whether anyone other than doctors still used fax machines. My local big box electronics store doesn’t even sell them.
I also use a physician at a major medical center in a large urban city. They are totally computerized. They have an app that permits me to e-mail them and sends me alerts when I can view my lab test results. It’s not unusual for me to receive these alerts at night or on holidays.
The disparity between the two practices is glaring.
Slack for internal use
Our digital marketing team started using Slack for internal communications about six months ago. The impact on our productivity was immediate and transformational. We have a separate Slack channel for every project, and include all team members who work on that project. We can easily locate all communications relating to that project without sorting through e-mails dealing with unrelated matters.
Our team members use “direct messages” to communicate with each other on general matters, without intruding on the time of other team members.
We use Slack to send files as well as text.
We have reduced e-mail communications by 90%.
Slack has many other features like video conferencing and integration with over 1,500 apps (including Dropbox) that we don’t currently use.
So far, we’ve been able to use the free version of Slack, which gives us 10,000 searchable messages, 10 apps and integrations, one-to-one video calls and two-factor integration.
Advisory firms should consider Slack Enterprise Grid, which has built-in security and compliance features.
Other similar platforms include Skype for Business and Cisco Jabber.
Slack for use with clients and prospects
Once we saw the benefits of using Slack internally, we started to invite clients to communicate with us using it. Our clients are all advisors. Their projects involve extensive collaboration on the content and design of their websites.
Here’s what we found:
- To date, no advisor was using Slack for internal or external communications prior to our inquiry.
- Everyone who agreed to use it loves it.
You should be aware of the need to be compliant with SEC and FINRA requirements relating to instant communications. The relevant issues are nicely summarized in this article.
Slack makes it easier to communicate with prospects and clients. It deepens those relationships and makes them “stickier.”
Video conferences
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We offer consulting services on how to convert more prospects into clients through Solin Consulting, a division of Solin Strategic, LLC. Our evidence-based persuasion strategies have significantly increased conversion rates for our coaching clients. I'm available to speak at events. I also provide individualized coaching using videoconferencing.
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I'm working on a new self-help book for the general public. It's called:
Ask
Be Liked. Be Loved. Be Better
Ask will be published in early 2020. We'll be rolling out programs for advisors who want to offer this game-changing book to their clients as a way to demonstrate value. For more information, click here. You can sign up for updates at the link (scroll down).
For more information, please contact:
Dan Solin
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(239) 949-1606
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I do almost all my coaching via videoconference. For less than $5,000, I created and equipped a separate space used only for that purpose. I have a logo for our coaching company on the back wall.
I use Lifesize as my platform. I also purchased its high-end camera and speakerphone. All my clients have to do is double-click on a link I send them, while using Chrome as their browser, and they are instantly connected to me. The platform permits me to include multiple people in the video conference, although typically my coaching sessions are one on one. The quality is uniformly excellent
When I’m traveling, I use the mobile app and conduct conferences using my iPad.
Another popular option is Zoom.
I’ve been surprised by the number of advisors who are unfamiliar with this technology. As a consequence, they don’t offer it to their clients in lieu of in-person meetings, although the benefit to both parties could potentially be significant. They also don’t use it with prospects. Doing so might improve the possibility of making an emotional connection before an in-person meeting.
If you haven’t already considered this technology, take a look and see if it might help you become more productive and enhance your relationships with prospects and clients.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives
