I was at a retail store over the weekend, and as I was checking out, the UPS man dropped off some additional supplies. The shop owners stopped and commented that UPS now has their people working on Saturdays as well. The UPS driver responded that by the beginning of next year, he was going to have to start working on Sundays as well. He added, “I have to keep up with Amazon.”
So, my question for you. Are you ready to keep up with Amazon when they enter the financial services space?
At some point, Amazon will most likely enter our business — if they haven’t already. Different online insurance agencies have begun peppering our clients for information to win their business. But if we continue to add value, we make ourselves irreplaceable. What is changing, however, is how people interact with us and how they choose financial planners. Type in the words financial professional, financial planner or financial services into your search engine and you’ll find 20 million hits on any one of those keywords. The way people buy things are completely different from just 10 years ago. Purchases are being driven by the changing behaviors that Amazon has created.
So, how do you cut through all the noise?
Think about how you last purchased something. Did you look online? Most likely you looked at the ratings and read some of the other reviews that previous buyers posted on the product. Searching online before buying is a material change in the way people look at how they buy products and services. They look online for words and reviews that convince them of the value of what they are buying.
In the financial services industry, this has a significant impact. There are three things to consider when shaping your digital presence.
By focusing on these three changes, you will open yourself up to greater success both now and in the future. You’ll attract quality people, grow your assets under management and then ultimately remain relevant in the greatest shift from the workforce to retirement our country has ever seen.
It sounds like a daunting task. But it is possible. Reach out to our team and learn more about how we’re here to help you become a High Performing Practice. After all, Amazon didn’t start out as the force it has become. Like other growing companies, Amazon watched, adapted and automated. And so can you.
Cutting through the noise of today’s digital world is essential to remaining relevant. We can help.
© 2018 Ash Brokerage LLC.