21 Jun 2019

Going Digital: Online shopping and Financial Advisors

How many of you here are guilty of spending too much time online shopping after work? I guess many of us are.

I’m sure nobody has the mood to squeeze in the bustling mall after a long day of work. It is so much better to be resting in the comfort of your own house while scrolling through the endless list of items online.

No matter if you are looking for clothes, groceries, electronics, or makeup, you can find them on online shopping platforms. Through online shopping platforms, you are a few clicks away from the items you want to purchase!

Read till the end to see how online shopping relates to you as a financial advisor!

Why is online shopping the in-thing now?

1. Saves you a lot of time

Remember spending time in the supermarket waiting to make a payment?

Now, times have changed and customer satisfaction is the most important. You can order your groceries online all at your fingertips. You do not even have to squeeze with other customers during peak hours.

There are so many sales and vouchers available when you shop online as well!

2. Check reviews

More than half of Singapore’s population uses social media to check reviews on products.

I’m sure most of you reading this will also check the reviews before purchasing an item to see if others are enjoying the product. You are way likely to purchase a product after reading good reviews about it because our decisions are greatly influenced by other customers’ reviews and opinions.

3. Increasing personal interactions

“Hmm, doesn’t the rise of e-commerce result in a lack of interaction between the staff and customers instead?”

With the development of the Internet, brands can reach out to their customers with greater ease. For example, if a company is launching new products or having sales, it can immediately notify its customers via text, email even through social media.

Companies can now engage their customers more effectively and build customer loyalty. They can get feedback from their customers directly through online platforms and better meet their needs.

4. Shop 24/7

Most malls close at 10 pm or even earlier.  What if you need to get a gift for someone, but you are too busy with your work?

Fret not, with online shopping you can do your shopping quickly. You can do it when you wake up in the morning or very late at night before going to bed. Online shopping is available for you round the clock.

So how does this relate to you as a financial advisor?

As the brick and mortar store experience slowly vanishes, it is opening doors to interesting new possibilities for many forward-looking companies. Many big companies that only owned brick and mortar stores are now venturing into digitalizing their sales to stay in the competition.

It is also important for financial advisors to go digital. Financial advisors doing cold activities like cold calling, street surveys and roadshows are like brick and mortar stores; they are no longer attracting as many people.

It is time for a change.

As a financial advisor, embrace technology to maximize your potential in reaching out to more people. Having an online presence will help you get more clients. With Synchestra Profile Builder, busy consultants are able to build their own online marketing page in less than 10 minutes.

Just like the benefits of online shopping,

  • By having an online profile like Synchestra, potential clients can read your testimonials from your previous or current clients. This will help them gain trust in your services and products.
  • Greater personal interactions. In your Synchestra profile, you can share your email and your number so that they can to contact you. You can also share your video about your passion for serving your clients.
  • Your profile will be online round the clock, so anyone can view your profile anytime. If there are any potential clients, they can drop you a text or email anytime. Or during your roadshows, you can share your profile link with them so that they can check out your profile when they are free.
  • It differentiates you from other advisors who will usually give their name cards. With an online profile, it helps you to increase your professionalism and uniqueness.

That’s all for today! Stay tuned for articles so that you will be updated on the latest financial advisory strategies. Alternatively, contact our Growth Consultants to find out more about our upcoming masterclasses and programmes.

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