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How to Increase Client Satisfaction in Your Financial Services Business



digital marketing for financial services

Top financial services businesses that have deep relationships with satisfied customers are able to successfully weather changing economic conditions. Customer satisfaction is a foundation for their successful businesses. Happy customers recommend you to friends and family, seek your advice year-round, trust you as their financial liaison, and become lifelong loyalists who bring substantial recurring revenue.

As a busy financial professional, you can use these tips to invest in customer happiness as your best new financial services business opportunity that will put you ahead of your competitors, help you generate new leads, and ensure that you keep your business booming during any economic storm.

1. Research Your Market

Market research identifies who your customers are and what they want from your product or service, also referred to as a product-market fit. Many small businesses make the mistake of going with their gut instead of diving deep into the facts about the market they serve. Do the research to get facts about who your customers really are and what services they need from you to make them happy.

Gain market insight by:

  • Keeping up to date on industry publications and market research reports on sites like Modest Money to see if there are regulatory challenges ahead that will affect your clients’ satisfaction and the services they need.
  • Creating a database that tracks the frequency of booking for each of your services and take steps to promote those with the highest value.
  • Creating an exit survey for clients that ask for a company score on a scale of one to ten. This direct feedback gives you the chance to follow up immediately with an unhappy client and learn how to improve.
  • Use digital tools from the Census Bureau to create an outline of the important client qualities that dictate their unique needs. For example, stay-at-home parents and student loan cosigners have a definite need for life insurance.

Reach out to clients to get feedback, ask for referrals, and share economic knowledge to help them live the best financial life possible. Direct communication and big picture research are the financial services business opportunities that will remind clients of your financial knowledge and value.

2. Get to Know Your Clients on a Personal Level

financial services business opportunities

You know your market, but now it’s time to get to know the clients on a more intimate level. Customers need to be treated how they want to be treated. Each person comes to you with different needs and in order to increase their overall satisfaction with your business, take the time to develop a personal relationship with them and learn to speak their language.

Step 1 – Determine Financial Goals

Look at your clients and identify their motivation for seeking out your services. Are they looking to stabilize a small business? Are they worried about having enough savings and interested in investing? Do they need guidance about improving credit to secure a loan?

Step 2 – Investigate Challenges

After listing the client’s goals, you can hone in on the problems they need help overcoming. Do they lose track of goals and need help staying organized? Do they think life insurance isn’t a worthwhile investment? Good financial services business opportunities start with a clear picture in mind of the challenges customers face. Your business will have more success in meeting and exceeding client’s needs.

Step 3 – Tailor Financial Services Solutions

Armed with knowledge about needs and specific hardships, you can create real changes to your business that will provide for clients needs and increase their overall satisfaction.

Think of this process like creating a pathway. You begin with assessing where a client is and where they would like to go. Next, you identify the obstacles in their paths and devise financial services solutions that will help clear the way for them to reach their goals.

When clients begin to think of you as a trusted advisor, they are more likely to come back to you when they need help. Tailor the services you offer to ensure that you are meeting each client’s true needs and wants.

  • Offering a bundle of services. For example, invoicing and bookkeeping are perfect matches to serve clients with small business needs.
  • Most individuals and small business owners have credit score issues. Client’s with low credit scores have trouble investing, qualifying for a loan, and developing a savings plan. Credit repair business is a great way to increase overall client satisfaction.

Understanding clients can be a long process with ongoing benefit. Not only will you be able to direct your digital marketing services and advertising for financial services to clients for the services they need, but also they will be more likely to remember how helpful you are.

3. Sell Your Unique Value

Time to assess your unique value proposition or UVP. The cornerstone of a successful business with happy clients is to offer something truly unique.

Take time to imagine yourself as a potential client who is searching for financial services help online. A quick Google search results in dozens of possibilities. Your best financial services business opportunities offer something valuable and different to stand apart from the competition and increase client satisfaction.

Make your business more desirable for new clients and increase current client satisfaction by:

  • Creating a message that highlights your niche services. For example are you a pro with life insurance or retirement investments?
  • Tailoring your financial services marketing materials to appeal to your target market. Email is a no-brainer digital marketing strategy for financial services for recent grads.
  • Adding credit repair business services to make your business stand out from the crowd by improving your client’s financial well being.

Great customer service takes intimate knowledge about your customer and the economic conditions they live in. Building trust with clients takes time, but when you decide to take a vested interest in them and fulfilling their needs, they will be more satisfied and spread the word about your financial services business.

Discover how to become a trusted professional in financial services and deliver the services that make clients truly satisfied.

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Understanding Bitcoin as an Investment



bitcoin as an investment

Analyzing Bitcoin as an investment

Bitcoin has been at the forefront of financial news for a while now. More people want to also understand bitcoin as an investment. Every day, more and more talk about Bitcoins is occurring, not only as a digital currency but also as a financial investment.  Many people are intrigued by this digital currency, but they also have reservations about it as well.  For now, we will discuss how to evaluate bitcoins as an investment.

There are Bitcoin exchanges, just as there are stock market exchanges.  As of November 2017, the largest full-trading Bitcoin exchanges that are available to everyone include, Bitstamp (a Slovenia based exchange), Bitfinex allows you to swap or buy Bitcoin, Litecoin, and Darkcoins. Coinbase is based out of San Francisco in the United States and touts itself as a one-stop solution for Bitcoins. Cryptsy, based in Florida deals with most of the altcoin currencies. BTC-e (based in Bulgaria), and Kraken (based in the United States).  The world’s largest Bitcoin exchange, BTC China, is based in China, but that exchange only allows exchanges of bitcoins for Chinese Yuan/Renminbi.

bitcoin as an investment

In order to open an account with these exchanges, you usually have to link a bank account to your Bitcoin exchange account, as you need to wire transfer the money for bitcoins to use in your account.  Credit cards and PayPal are not options [at least not at the time of writing] because the transactions can be reversed very easily, whereas a wire transfer cannot be reversed (Need financial advice on this?)

Usually, only bank accounts from that specific exchange’s home-based country can be linked to the exchange account (for example, CoinBase, based in the U.S., only allows U.S. bank accounts).

Like the financial stock markets, bitcoins fluctuate in value against real currencies such as the U.S. Dollar, the Euro, the Japanese Yen, and others.  One important distinction between Bitcoins and real currencies to this point in Bitcoin’s history is the fact that Bitcoin’s valuation has been much more volatile than real currencies.

In December 2013, Bitcoin’s valuation went from about $675 down to about $425 within twelve hours, about a 37% drop in valuation.  That is virtually unheard of with any real currency (barring something major like The Great Depression or some other major economic event).

The reason that this sharp drop in valuation took place is that the People’s Bank of China told third-party payment processors that they should have nothing more to do with Bitcoin exchanges.  As a result, Bitcoin kept getting cut off from being supplied by the payment processors; in fact, Bitcoin was cut off by three payment processors inside of a week.  Banks have also been told to not deal with Bitcoin any longer.

This event reflects the major concern that most financial experts have about the currency.  Many feel it is too volatile as an investment, leading to sharp price spikes and declines that are virtually not seen in other currencies, the equity market, or mutual funds.  Most financial experts feel that the digital currency must stabilize in value and not be so prone to such rapid peaks and valleys for it to be taken more seriously as a solid investment.

In the past, the problem that many financial experts and institutions have had with Bitcoin is that not enough is known about how the currency is mined and how it is “regulated”, so that the currency stays on track of having 21 million bitcoins in the year 2140.

While safeguards are in place to keep the currency on that path, there have been attempts to try to disrupt the network and give a few select bitcoin miners the ability to mine as many coins as they wish.  There has also been concern that a group of miners could combine together, and work toward their mutual benefit, and to the detriment of everyone else on the network. This would occur by harnessing their mining power to get more coins for themselves and leave little to the rest of the network.

Some will always question and doubt how legitimate of a currency Bitcoin is, including its true valuation.  This is likely due to the fact that Bitcoin was the first digital currency, and financial experts are unsure of how to truly evaluate its worth.

More and more companies are starting to accept it as payment, but not enough is known about the mining process and how it can maintain itself to fulfill the promise of 21 million bitcoins in the year 2140.  Plus, Bitcoin can be susceptible to wild value peaks and valleys whenever an event associated with the network takes place, such as when Chinese third-party payment processors and banks are told to not deal with Bitcoin exchanges.

Large companies such as Stripe and Shopify are now accepting Bitcoins as payments. This trend is only going to increase.

However, in 2017, one Bitcoin is valued at over $7000 US dollars. So, it has gained ground as an accepted currency in the digital world and does have a high-value these days.

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What Baby Boomer Retirement Means for New Financial Service Professionals



financial services market trendsBaby boomers are aging, and their retirement is making way for newer financial service entrepreneurs. With more jobs opening up and the digital world changing at an accelerating pace – professionals starting their career are in an ideal position.

A retiring generation not only means a new workforce, it also means new ideas and methods that can further modernize the financial service industry. Read on to learn how baby boomers phasing out of the industry, along with new technology in the financial services market, is setting up financial service professionals for success.


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5 Ways That Credit Repair Benefits Financial Services Businesses



financial services business opportunities (1)Are you looking to add a new offering to your business skill set? Credit repair is an in-demand service that goes hand-in-hand with other financial services. Not only can repairing credit for your clients increase your revenue, it can also help you retain clients for other financial services. Read on to learn five ways credit repair can benefit your financial service business.


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