Mine Tags in Your Financial Advisor CRM

Most advisors who have been in the business for any length of time know that service levels are essential to delivering value your clients. Segmentation allows us to focus our time and efforts on those clients who can make the biggest impact on our businesses, either directly or indirectly. Additionally, it allows us to tailor our products and services in a way that actually focuses on issues clients face at certain income and asset levels. Every industry selling system tells advisors and agents to break their clients into A, B or C, or Platinum, Gold or Silver, etc.

Here’s the problem, most advisors and agents are constantly hunting for more clients and business. We categorize clients once and then rarely, if ever, adjust that classification. We at Wealth Advisor CRM believe that to truly take a business to the next level with your Financial Advisor CRM, advisors need to not only hunt for new clients, but actively farm, or mine, their current clients and prospects for deeper, more profitable relationships. To do that, we have added the ability to dynamically “tag” your clients and prospects. No, not Twitter-like hash tags, but flexible ways to group your clients that can change as their needs or your relationship does.

Can you look at your book of business and tell us how many clients with $250,000 to $500,000 of investible assets have referred 3 or more new clients to you? Can you easily tell how many clients have adopted children or grandchildren? Can you tell us how many of your clients volunteer during retirement in some capacity? Our advisors can do all this and much more because they have their clients tagged in meaningful ways that fit their business.

When you become a Wealth Advisor CRM client, we start you out on your first tags. Don’t stop there; expand your use of tags and get creative. You know your clients and your business better than we do. What makes sense for you? What will work in your Financial Advisor CRM?

I remember struggling with client categories, mostly because I was afraid to make a mistake and then have to completely reclassify my clients. Tags took away that fear for me. Once I realized it was client identification as much as it was segmentation, the light bulb went off in my head. As my clients change, I can easily adapt how I interact with them based upon those changes. It also gave me a way to make some “B” and “C” clients into “A” clients, all because I was able to identify trends and then communicate effectively with those clients that could be affected most by X or Y.

Once you tag your clients, you will see the huge change it can make in the way you communicate with your clients, and I firmly believe it will help you adapt to and grow with your clients’ changing needs within your Financial Advisor CRM.

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