What do high-call rates mean to wealth management companies?

Andy Vale

By Andy Vale
24 Mar 2020


2 min read

Contents

In a time of unprecedented uncertainty and sweeping change, it is never more apparent that people will be looking to speak to wealth management businesses on how best to navigate their finances in this economic climate.

To compound this, The Financial Times has reported that investment advisers on both sides of the Atlantic have seen a dramatic increase in the number of investors calling for guidance this week.

From services such as investment advice, legal, estate planning, or even withdrawals, having an in-depth conversation with clients, or even potential clients, can position your team as a trusted choice when it comes to wealth management.

But where are these conversations originating from? As most brands now approach their marketing with a multi-channel strategy, this means there are more ways than ever for a potential client to find your business, and in turn pick up the phone.

Was it one of your PPC ads which included a phone number? Has a recent campaign of yours encouraged clients to call you? Is one of your website pages featuring a phone number to call? Maybe it was one of your partners reaching out to them on LinkedIn?

Figuring out which source is driving high-value conversations to your business means you can connect with the right clients faster, and reduce spend in marketing efforts that aren’t reaching the right people.

How does call tracking do that?

Call tracking is the process of tracking phone calls by using a tracking number on all collateral, including your website (across multiple visits), landing pages, emails, and brochures to identify which are contributing to your business goals. Call tracking closes a loop between online and offline activity.

For example, if your wealth management company is interested in attracting a new generation of clients, who may not necessarily have a set amount of wealth at the moment but will do in the future, call tracking data becomes invaluable. Not only can it tell you what's getting the tried and tested clients, but it will also identify what new steps are succeeding in connecting with this younger audience too.

“As an industry, we need to keep looking forward and build relationships for tomorrow. How the younger generation thinks, acts, and wants to do business may be different from older clients, and we need to ensure we’re reacting to that.”

Thomas Hodgson | Senior Adviser Business Unit Leader, Clearwater Wealth Management

Maintaining long-term relationships

When wealth management companies integrate call tracking data into a CRM platform it gives them a comprehensive view of their clients’ past and present interactions. From touchpoints, previous phone calls, and even a view of their entire journey, wealth management companies can establish a strong relationship with clients by using these insights to tailor any conversation.

This takes the burden off your team having to remember every client interaction they had, and stores the data in one platform.

For example, let’s say one of your clients called you and mentioned an investment opportunity they were interested in. If the same client were to call you a few months later, their CRM record would hold this previous interaction, the phone call recording, and the action your company took from having this discussion. Your team could then pepper the conversation with this knowledge and make it highly personalised in the eyes of the client.

The next step

Whilst no-one is clear on what the current economic climate holds for the future of businesses, one thing is for sure, and that’s ensuring your company is attracting and retaining clients on a consistent basis.

Infinity works with over 750+ clients to provide the next level in call tracking technology. Our sophisticated suite helps marketing teams gain full visibility on their client’s journeys, and gives them the insights needed to make smarter decisions, fast.

Start your own conversation with us today by giving us a call, clicking this link, or chatting to one of our team via live chat.

Ready to unlock real audience insight at scale?

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