THE POWER OF TECHNOLOGY IN CUSTOMER ACQUISITION
I love a bit of tech. Especially in the form of new platforms and different ways to engage with people. I’m not exactly prolific across all social media platforms but I do appreciate their appeal. LinkedIn is probably the medium I have tended to use the most in recent years, although I am becoming more and more invested in what remains a relatively new concept – Clubhouse.
Clubhouse is a social networking app based on audio-chat. Users can listen in to conversations, interviews and discussions between people across a variety of topics or issues. Essentially it is like a live, unfiltered podcast with an additional layer of exclusivity attached to it. It acts like a conference call where the panel are participants and the rest of the audience listen in and pose questions at opportune moments. Once the conversation finishes, the room closes – it’s as simple as that. This is just one of many new innovations out there and whilst it’s always been important to adapt and evolve on a personal and business level, the past 12 months have certainly opened my eyes when it comes to embracing new things and sharing these experiences along the way.
Technology is a great outlet for this and it was encouraging to see research from intelliflo suggest that since the UK was first placed in full national lockdown, advisers have reported an increase in clients, greater efficiencies, more confidence in growth for 2021 and an acceleration in the adoption of technology.
When asked about the biggest changes they’ve observed over the past 12 months, 48% of adviser firm employees reported an increase in the number of clients. For more than a third of respondents (38%), technology enabled them to service clients in different locations over the last year, signalling the power of technology in customer acquisition. 53% of advisers believe there will be more new clients seeking advice, compared to just 3% who think there will be less. The future looks bright for consumers too, as 70% of advisers think their clients’ personal finances have improved during the pandemic, compared to just 4% who believe they’ve worsened.
Comparing this year’s findings to intelliflo’s poll in April 2020, the results show how far advisers have come in adopting technology. Last April, 42% had adopted technologies that they planned to implement permanently – this has now risen to 67%. One third (32%) had adopted new technologies that were enabling them to become more efficient and this has now risen to 64%. When asked what their business has been able to improve on over the last 12 months, better adoption of technology with employees (65%) and better adoption of technology by clients (60%) came out on top.
Technology has a huge part to play in the present and the future of the mortgage market as we move towards a digital world where greater efficiencies are available, along with access to information, new engagement processes and networking opportunities. The beauty of tech is that you remain in control in terms of how, why and where you use it, meaning the power really is in your hands – so use it wisely.
Ying Tan - 01.04.2021 | Posted in