Research by L&G showed that 37% of advisers have a presence online, but do not regularly update their offering, while 60% have no online strategy at all.
However, 71% of respondents know that their customers use social media.
Speaking at The Mortgage Event in London, Ben Thompson, director of mortgages at L&G, said it was critical for advisers to understand and anticipate how communication will change over the next ten years in order to maximise opportunity.
He highlighted that the ways of engaging with customers varies hugely between age bands, with generation Y (8- to 28-year-olds) expecting to be communicated with through Twitter, video chat, instant messaging and text messages.
Nevertheless, face-to-face meetings still remain very important for all age groups as a way of building trust, with regular contact an essential part of keeping clients and getting referrals.
L&G’s research showed that for clients that an adviser has been in regular contact with every quarter, 70% will agree to a meeting compared to 6% of cold contacts.
Thompson said: “Advisers main selling point is themselves. People buy people and, if anything, that has increased in the last few years. So, don’t sell the business, sell the opportunities; be a source of relevant information and, simply, do what you say you’re going to do.
“Most importantly, ask clients how likely it is they would recommend you to others? If you get an endorsement that can spread very quickly, especially online. The opportunity is significantly bigger now.”
