Cool Tech
Cool tech doesn’t make you a better I’ve given dozens of talks on the need for insurance professionals to navigate the digital landscape effectively, and invariably the conversations veer into the arena of “what’s the newest, best tech to help me grow?” As a selfavowed tech junky, I am always obliged to engage in this conversation, because it’s a lot of fun to talk technology. However, what most people don’t realize is that I do so with significant hesitancy because, I am acutely aware of one thing that, as an outside-the-box thinker with ADD, I have to fight my inner tendency to want newer, cooler, better. If you’re like me, suppressing that tendency can be challenging, especially since there seem to be new awesome apps, platforms, and digital tools popping up every single day.
Avoiding shiny object syndrome.
Ever think to yourself, “Wow, if I just had that, then everything would change!” We probably all have thought this at one point considering how many amazing apps, websites and platforms have been created to support us professionally. I am one of the biggest offenders because I am enamored with cool apps, easy-to-use platforms, and anything that doesn’t just make my practice better, but is fun to use. With so much out there that shines, I’ve had to train myself to slow down, step back, slap my hand away sometimes, and think critically about technology. This may be cool, but how does it fit into the bigger picture? Will this help me reach our target audience in a meaningful, repeatable way, or is it just built for a broad audience? Can more than one member of my team use this? Will it bring improvements in our areas of greatest need? Might it become a distraction, or worse yet, undermine our ability to deliver high quality results to our target audience? In short, I remain laserfocused on my mission of producing a superior brand experience, and therefore I cannot add more without answering the question: how does this help us be better? As billions of dollars flow into FinTech each year, technology continues shaping the landscape of the
14
insight
financial experience. So it can be harder for insurance agents to stand out and be perceived as valuable, especially when much of this technology focuses on direct-to-consumer buying experiences. As insurance professionals adjust, we too are bombarded by technology that all has the same marketing theme: “If you want to have the practice of the future, then you really need this!” But the obvious question is, “Do I really need this?” And herein lies the first, and possibly most critical, step to take: You must step back from your practice, look at it strategically, and properly diagnose what your true technology needs are. It might not be what you think.
Know what you need, not what you want.
Trust me, I know this all too well. As salespeople, generating new business is likely the most significant use of our time each week. It’s easy to always be thinking about leads and then “next big opportunity.” While growing our practice seems like it should rank highest in our hierarchy of needs, the reality might be quite different. As an advisor with ADD who loves sales, I am acutely aware of my Achilles heel-service. I’m wired to bring clients in, but taking care of the little details is something I am just plain bad at. This means I’ve had to concentrate on adding tools to my practice to handle service and manage client relationships so that my clients do not suffer from my shortcomings. The last thing I want to have happen is to bring in a great client and see them leave because I fail on service. To solve this issue has meant adding both the right people and the right technology, to have a digital infrastructure of success. Our firm has spent substantial time investing in the right CRM to support our practice to deliver a superior client experience that reinforces our brand. We had to prioritize our spending on this first, instead of adding more to our sales and marketing framework because we did not want to outgrow our capacity. For us, it wasn’t about more sales or new leads, it was about being a more well-oiled machine that can take exceptional care of clients.
june 2021
