Special Feature
Extending your reach How to market your firm in the ‘new normal’
“
Tiba Raja Executive Director Market Financial Solutions
Taking the time to split your audience will allow you to tailor your messaging depending on their circumstances
T
he 'new normal’ is one of those sayings that everyone is going to get tired of quickly (if not already). However, it’s important to acknowledge that things are new. Just as we transitioned into lockdown, we may now be transitioning out. And already, this is having a profound effect on the country and the economy. The challenge will be learning how to adapt to the ‘new normal’.
Personalised customer experience Making sure your clients are well catered for is something most of us were on top of before the pandemic. But now, market expectations and priorities have been altered. This means the way we structure our customer experience needs to change as well. A top focus is building and maintaining a positive rapport. How you treat those that come to you for support will determine whether they will return once things have become more settled. To this end, taking a step back and reviewing your personal marketing strategy will be vital in the coming months.
Audience segmentation One way to review and tailor your personal marketing strategy could be segmenting your audience in new ways. There are two potential groups which you could split your clients into: •
Those whose circumstances are more challenging through COVID. For this first group, a softer, more personal, and educational marketing approach may be beneficial. This group may need an extra level of confidence before transacting. If your business is mostly email based, perhaps look to add a phone call to your customer journey, or a Zoom meeting to
36 | NACFB
make the client more comfortable. Learn which lenders are still fully operative and flexible to suit your client’s needs. •
Those that have been able to take advantage of new opportunities. A show of strength may be a good strategy for the second group, however. For those who are attacking the market, ready to take advantage of the current climate, you can show that your business is still very much alive and kicking. Talk about your positive experiences of lockdown, and promote reliability and stability, particularly with the lenders you are using to bolster confidence.
Taking the time to split your audience will allow you to tailor your messaging depending on their circumstances. If automated marketing is something that you are already doing, this can be implemented simply through dedicated lists, and if your marketing is more one-to-one, you will know before you ring which tone of voice will make your client feel more at ease.
Managing expectations With products changing so rapidly, educating clients in how the market has changed is something that should also be a priority. This is not just for the client’s benefit, but also for yours. The better your client understands what is happening in the market, the easier it will be for you to explain how their changing circumstances could affect their applications to match a suited lender.
