What to expect from doing the course...
What type of advice firms should and shouldn’t be worried about the impact of technological advancement? It’s a question being asked with increasing regularity by everyone from investors to institutions and, of course, advice business owners.
The answer comes from the words of polymath, co-founder of Wired magazine and the person Tim Ferriss calls “the most interesting man in the world”, Kevin Kelly.
“The cut off is simple. If you offer a service, you can be commoditised by technology, but if you're in the experience business, you’ve got something tech can’t easily touch”
For years advice businesses have achieved valuations that left accountants looking on in envy, but the question now is whether that traditional “stickiness” will endure in a hyper connected world where switching loyalty is no more than a button press or email away.
Add into the mix the ongoing battle with the media, uncertainty around all things financial planning and the entrance of new players into an already under-realised market, and the question is being asked.
Why would you pay ongoing fees to advisers, and what do you get for your money anyway?
At this workshop, I propose we answer that question in two parts.
Part 1 - Nailing the offer
In this first foray, we'll explore effective ways to position your ongoing value proposition:
• What exactly is a valuable service offer? We’ll explore the truth about what makes clients engage and stay engaged (it’s not the advice)
• When and how to position ongoing service to new clients.
• The four factors that transform the ongoing service conversation from “How much?” to “What’s needed”
• Why Platinum, Silver, Gold is no longer relevant and what works instead.
• How to own the benchmark (so it’s never just about returns).
Part 2 - Delivering the experience
Selling it is only half the game. Delivering is where you build an enduring business. In this part 2, we’ll dive deep into how to deliver on your promises without hitting the capacity wall,:
• How to get clients to do more of the heavy lifting when it comes to review
• The simple, repeatable service offer components every firm needs to have.
• The 6 lifetime value models you absolutely must know about before you make a single decision on your ongoing fee model.
• How to build a “support-amated” service model that delivers the personal touch without the need for unwavering personal attention.
• Strategies to go beyond just retaining clients, but instead further deepen the engagement by foreseeing their “what next” before they do, and how to create an aspirational service offer that keeps your very best clients engaged.
This course is based on the proven half day workshop "The Offer & The Experience", littering with practical examples and fully stocked with all the templates you need to go from theory to practice in less time than it takes for the RBA to decide that rates stay on hold.