In the business realm, particularly in marketing communications, providing added value is an imperative practice. When companies merely disseminate information without incorporating their unique perspectives or insights, they fail to seize an opportunity to distinguish themselves and showcase their expertise to clients.
Adding value can assume multiple forms, such as offering expert analysis, providing context and implications related to the shared information, or tailoring the content to suit clients’ specific needs and objectives. Through these means, companies can justify their fees by demonstrating their unparalleled knowledge, expertise, and ability to help clients make sense of the available information.
Today, we delve into two scenarios where firms are particularly guilty of post-boxing, essentially sharing information without adding any substantive insights or perspectives.
- Share News Stories on Social Media: A Missed Opportunity
Raise your hand if you’ve ever been guilty of this—I know I have! It’s easy to fall into the trap of mindlessly retweeting a news story from the trade press on Twitter. Yet, let’s be honest, such action is practically next to useless, failing to demonstrate our expertise to clients. Instead, we should endeavour to inject our unique slant or angle into the content we share. This way, we not only provide valuable information but also present it through the lens of our expertise.
- Tools and Content Libraries: Beyond Mere Accessibility
Consider this: how many of you have handed your client’s financial education libraries like HapNav, Flipside, or MoneyFitt, only to find out that they never even opened the application? Disappointing, right? Well, this disappointment stems from post-boxing. Simply giving clients access to tools and content libraries without guiding them through the material or offering your own insights is a wasted opportunity.
Before you give up entirely and cancel your subscription to such resources, allow me to present some compelling points for your consideration:
- Client Financial Activation: The Key to Transformation
To transition from being an intermediary to a non-intermediating financial planner, it is crucial for your clients to take control of their own finances. Increasing client financial activation becomes an essential part of this process. Adding value, sharing insights, and empowering clients pave the way for their financial independence.
- Producing Your Own Tools and Content: The Impracticality
Attempting to develop your own tools and core content library may seem like a viable solution. However, it would demand extensive time, and the output may not match the professional quality available through existing platforms. Moreover, considering the affordable cost of a professional version, investing significant resources into reinventing the wheel would be nothing short of professional suicide.
- Embrace Technology as an Ally: A Paradigm Shift
When it comes to technology, don’t compete with it—make it work for your business. Whether it be AI, cash-flow models, or content libraries, the future lies in coding tech, selling tech, or effectively integrating tech into your operations. Embrace the power of technology as a collaborative force rather than a threat.
- Craft Your Unique Educational Materials: Unleash Your Expertise
Suppose you desire to create your own educational content. In that case, it is crucial to avoid replicating the core material, such as explaining what a bank account or credit card is—basic information that can easily be found elsewhere. Instead, base your training materials on your distinctive insights and perspectives. This differentiation allows you to demonstrate your expertise and sets you apart from the crowd.
- MoneyFitt: A Research Team at Your Disposal
Think of MoneyFitt as your institutional broking service, providing you with a dedicated research team that continuously generates new content for your library. Rather than acting as a mere post box, aim to become a salesperson—a value-added intermediary. Infuse your communications with a personal touch, lending your own spin to the information you share. With a daily influx of fresh content, harness your resources, time, and money wisely within your business.
Encouraging firms to go beyond post-boxing and add substantial value to their clients is a valid approach to differentiate themselves in a fiercely competitive market. By transcending the boundaries of conventional information sharing and offering valuable insights, firms can forge stronger relationships with their clients and elevate their perceived worth.
Academy of Life Planning 