Beat the competition through emotional connections

Beat the competition through emotional connections

Greater competition has forced FS firms to take a hard look at themselves. Many have come to realise that the crucial ingredient that had been missing in their recipe for success is true customer-orientation.

The business world is undergoing digital disruption, creating an environment whereby Financial Services must undergo a mutation into the new digital era of the future or risk being ousted by so-called “FinTech” companies. These start-ups have been introducing major technological innovations that are dramatically disrupting the sector. Google; Fidor Bank, Nutmeg, Mint, Motif Investing or Interactive Investor and you get an idea of the revolution that is under way. This new competitive environment has forced FS firms to now differentiate themselves on a customer experience level through building a connection with their customers. But how?

A wealth management organisation recently launched a Fantasy Portfolio Management Game,the stock market equivalent to Fantasy Football. The platform not only allowed customers to learn to build a portfolio, understand financial markets, and improve their knowledge of investment products and jargon, whilst having fun.  The firm not only made its customers feel supported on how best to use the firm’s services and products but also created enjoyment in the process.

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