Social media proficiency is a must have for advisors and agents today. In fact, 92% of advisors report that social media has helped them gain new clients. Social media plays a key role in the digital landscape, and done correctly it can help advisors find new clients and strengthen relationships with their current ones.
Not only has social media transformed how business is conducted, it has also transformed where it is conducted. It is estimated that nearly 3 billion people worldwide own a smartphone. Another staggering statistic: 70% of web traffic comes from mobile devices. In order for your advisors and agents to find and stay connected to clients, they need to be both social and mobile.
It may seem unbelievable, but over 60% of advisors’ and agents’ time is spent on non-revenue generating activities such as administrative tasks. With texting, advisors and agents have an ultra-efficient way to stay connected with clients. In fact, text read rates are as high as 98%. Studies show that 75% of people report receptiveness to receiving text messages, making it easier for your advisors and agents to connect to clients. Within financial services, the average customer opt-in rate for advisor texting programs is 80%, suggesting that clients are eager to hear from their advisors and agents. We’ve found this is especially true in today’s volatile financial climate.
Not only are clients more responsive, but activating texting as a compliant advisor-client channel drives a deeper level of authenticity in the last mile of communications. It also enables your field with the flexibility to schedule time-based text message reminders, such as appointment and annual review reminders, that help shift the balance of where advisors and agents spend their time, from administrative activities to client meetings.
Does this mean that you should solely favor text messaging over email marketing? On the contrary. When it comes to communications, a balanced approach is always best. Authentic relationships thrive across various digital channels. Make sure your advisors and agents leverage both text messaging and email marketing to communicate with their clients and prospects for a successful content strategy with a tangible ROI. For example, studies show that when sending a text to follow up on an email, the email open rates increase by as much as 30%. And given that clients of advisors using Hearsay, on average, respond to a text message in under four minutes, your advisors and agents are more than likely to connect with their clients quickly and efficiently.
To learn more about how automated text messaging can improve client communications, check out the recording of our most recent admin webinar or share these advisor/agent webinars where we discuss how Hearsay tools can provide compliant text messaging that helps save time, secure prospects, and increase client retention.