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  • 5 Ways Financial Advisors Can Redefine the Client Experience

    5 Ways Financial Advisors Can Redefine the Client Experience

    Although customers are the most important aspect of any business – in financial services – it’s truly all about the clients. If the customer is not happy with how someone handles their finances, they are likely to go elsewhere for a better experience.

    At the same time, fee compression demands financial advisors to achieve more with less. And throughout, customer expectations continue to reach heights. In this blog post, we will be revealing expert-recommended ways how financial advisors can reshape their customer experience to get more clients.

    Anticipate Your Client’s Needs

    To begin with, it’s vital to anticipate your client’s needs in order to serve them the best. Especially for fiduciaries like financial advisors, customer service is dependent on individualized service with the use of tools like validated behavioral insights. Modern finance planners are investing in tech tools to understand their client’s needs and behavior even before the client knows what he wants.

    Provide Access to Information

    Oftentimes, clients are hardly aware about the breadth of investment opportunities they can utilize. Gone are the days when private markets used to entertain only ultra-high-net-worth investors. Today, there are plenty of investment options for everybody. Thus, financial planners should educate their clients about their investment options through digestible content and resources.

    Promote Holistic Financial Success

    Many advisors focus on advertising investment options or products they can get paid for. But that’s not how you build a long-term relationship with your clients, suggest experts. You should focus more on providing a holistic financial wellness plan for your clients to connect on a personal level. For this, financial planners can collaborate with third parties that provide wealth advisor solutions for the different investment needs of their clients. Thus, keep your service more holistic than product or investment-focused.

    Digitize Your Services

    In 2022, it’s more than crucial to go digital for any business, including finance. Requiring physically signed documents adds hindrance to what could be a simple and quick digital process. Advisors need to understand that customers are no longer interested in compromising their comfort and convenience, and businesses are offering them services at the cost of just a click. Thus, firms must provide their clients with an app to complete all the documentation formalities. In addition, location-based barriers should be removed by normalizing the option of virtual meetings for all.

    Charge a Fair Fee

    Advisors should be transparent to justify their fee structure along with the pricing differences between clients who book similar services under management levels. Whether it’s tax planning, investment management, or estate planning – pricing models should reflect a client’s usage pattern. And remember, there is no one-size-fits-all approach in the financial services industry. Thus, financial advisors should charge a fair and justifiable fee to retain existing clients and get new ones.

    Let’s Take a Recap

    A major mistake financial planners make is not acting in the best interest of their clients. Hence, it is recommended to work with a fiduciary advisor who knows and has a legal responsibility to cater to the client’s needs and expectations throughout the service journey.

  • Want to Start Your Own Self Storage Business? Here’s How

    Want to Start Your Own Self Storage Business? Here’s How

    Self-storage is a booming industry. There are over 52,000 self-storage facilities in the United States, and the market continues to grow. You’re in luck if you’re thinking of starting your own self-storage business. This blog post provides all the information you need to get started. It discusses everything from site selection to marketing your business. So read on for tips and advice to help you get your new business up and running.

    Research the market

    The first step to starting any business is to research the market. Regarding self-storage, you need to ensure enough demand in your area for the services you plan to offer. Analyzing competitors in the area and talking to potential customers can help you better understand what people want and how much they’re willing to pay. The reputable self-storage providers behind Livingston Storage recommend that you also check local zoning and permitting regulations to ensure your business can operate in the area. In most instances, you’ll need to secure a business license before you can open your self-storage unit.

    Create a detailed business plan

    Creating a comprehensive business plan is essential when starting any new venture. Regarding self-storage, you need to include your target market and customer base, financial projections, marketing plans, and potential exit strategies. Your target market will determine the size and amenities of your facilities, so it’s essential to have a good understanding of who you’re trying to reach. Your financial projections should include all costs associated with purchasing or leasing a space, constructing your facility, and hiring staff. And finally, your marketing plan should include strategies for reaching potential customers, such as social media and print advertising.

    Your business plan should also include a detailed plan for the existing facility. This should include information about size and layout, security features, storage units, administrative office space, and any other amenities you plan to offer. The size and design of your facility will depend on the target market you identified in your business plan. Consider climate control, drive-up access, and security features to ensure your facility is appealing to customers.

    Choose the right site

    Location is essential when it comes to self-storage. You want to make sure the site is easily accessible and large enough to accommodate all of your units. Also, pick a spot not too far from your target customers so they don’t have to travel too far. Other factors you need to consider in choosing a location are zoning regulations, potential liability, and access to utilities. Zoning regulations can be a significant factor in getting the right site for your business; some local governments may not allow self-storage facilities due to safety concerns. Make sure you research these regulations carefully before selecting a location.

    Secure funding

    Next, you must secure the funds necessary to build and operate your self-storage business. If you already have savings set aside, that’s great. Otherwise, you may be able to get a loan from a bank or other commercial lender. In securing a loan, ensure you have a well-crafted business plan outlining all the costs associated with starting and running your business. Additionally, there are various types of grants you may be eligible for, depending on your business plan and other factors. For instance, many states offer grants for businesses focused on green energy solutions. These solutions concentrate on reducing energy usage and waste to protect the environment. You need to plan how to incorporate this into your business plan.

    Plan the construction

    Once you have the funds secured, it’s time to start planning the construction. If you’re building a new facility from scratch, this includes designing floor plans, selecting materials, and hiring contractors. The floor plans should include the number and size of storage units you will offer and any additional amenities. Be sure to factor in climate control options for your customers, such as air conditioning or heating. The materials you use also make a difference in the building’s durability and energy efficiency. Also, in choosing contractors to work with, you want to ensure they have experience building self-storage units. Exert effort in researching potential contractors to ensure you select the most reliable and reputable ones.

    Set up financing options

    Many customers are interested in flexible payment options when it comes to self-storage. To attract more customers, consider setting up various financing options that allow them to pay for their units in installments over time. This could include monthly or yearly payments or even a rent-to-own option. It’s essential to consider these options when setting up your business, as it can make the difference between customers choosing you or a competitor. Customers may also be interested in discounts, such as seasonal rates and extended-stay deals.

    Market your business

    Once the construction is done, it’s time to start marketing your self-storage business. This includes creating a website and social media accounts for your brand, advertising in local publications, and setting up an office where customers can visit. When creating a website, include detailed information about your services, such as payment plans and security features. In setting up social media accounts, use them to promote your business and interact with existing customers. You may also consider offering discounts or promotions to attract customers and encourage repeat business.

    Maintain your facility

    Finally, don’t forget about the importance of maintenance. Keeping your self-storage unit in good condition is essential to keeping customers happy. This means regularly inspecting units for damage, cleaning common areas, and ensuring all security protocols are followed. When a unit is damaged, make sure it’s fixed right away and that the customer is notified promptly. Cleaning common areas also help ensure that customers feel safe and secure. Security measures such as door locks, cameras, and background checks for employees should also be in place. Keeping an eye on the competition is also essential, as this will help you stay ahead of trends and adjust your pricing accordingly.

    Running a successful self-storage business requires commitment and dedication. But if you follow these steps, you’ll be well on your way to success. Rest assured that with some hard work and determination, you can create a profitable business that provides excellent service to customers for years to come. Good luck!

  • The 3 Things To Improve Today On Your E-commerce Store

    The 3 Things To Improve Today On Your E-commerce Store

    There are a lot of moving parts when it comes to running a successful e-commerce store. You have to segment all the elements of what it takes to make sure that it is running like a well-oiled machine. For instance, you have to make sure that your marketing is on point as well as your processes.

    Customer service is a part of the deal that usually gets overlooked. When you have a good customer service program it can make a huge difference in the success of your store. You’ll retain customers much easier and often keep a positive review rating which brings in more customers in the future. In this article, we will give you some tips on how to improve your customer service.

    1 – Speedy returns

    You shouldn’t skimp out on your courier service to get the returns and exchanges to your customer as soon as possible. Often, the cheapest service is also the one that takes the longest to get there. Instead, use a service such as https://www.californiacourierservices.com to make sure that the exchange arrives quickly.

    The process to submit a return should also be quick and easy for the customer to go through. Send them a printable return label so they can handle getting the package back to you accurately and quickly.

    They should be able to initiate the exchange before you receive their return also. You can have the process start as soon as you get confirmation that the package was sent by them so you aren’t wasting time waiting for it to arrive.

    2 – Fast response time

    When people have a question, they want it answered right away. They need to know information such as what your return policy is or to ask about how a product works. This is going to help them make a purchase since they are informed and know that the product is going to work for them.

    Having a 24-hour-a-day customer service call center is not feasible for most e-commerce store owners, however. Instead, have a chatbot that can handle most questions so that people don’t have to wait overnight to get an answer to their questions.

    3 – Offer multiple payment options

    There are so many ways to pay these days beyond just using a debit or credit card. If you don’t give people the option to pay their preferred method then you will have people not follow through to the purchase phase.

    Give them options such as using payment apps such as Apple Pay or Google Pay for instance.  Paypal is also a popular way to pay since it gives consumers a safe and easy way to pay that includes protection against scams. They can link one of their cards to any of these services and many do.

    Even having a way to accept cryptocurrency payments is a good thing to have even if you are unsure about it as a currency. Many payment processors will offer withdrawals into your local currency so there is no downside and it is something many consumers are looking to pay with.

  • 8 Key Questions When Interviewing Potential Real Estate Agents

    8 Key Questions When Interviewing Potential Real Estate Agents

    Finding the best real estate agents can be a tough task for recruiters. After all, real estate is an industry that revolves around convincing others to make potentially risky investments. Knowing how to recruit real estate agents with the right skills and qualities can be tricky; in fact, it’s something that even the most seasoned human resource professionals sometimes struggle with.

    Still, it’s possible to narrow down your prospects with the right interview questions and the most workable answers. To help you pick out the diamonds from the rough, here are some of the questions that establish a real estate agent’s skill, work ethic, and capacity to be a game-changer in the field.

    What qualities do you possess that make you a good fit for the agency?

    As with most jobs, one of the first things you should be looking for in a candidate is their ability to sell themselves. This question allows an applicant to showcase their best qualities, particularly their self-confidence and communication skills. A stellar candidate must be able to describe their strengths easily, one of which should include paying attention to a client’s needs and knowing how to work with different personalities.

    How do you organize your schedule and manage your time?

    A real estate agent’s job is often hectic and requires a high level of time management skills. This question will show you how a candidate handles multiple tasks: setting appointments, preparing for open houses, sending emails, updating the client database, and more. Your candidate must show that they have a system for organizing a fast-paced workday—and that they clearly abide by it.

    How many homes have you sold over the past year?

    Track record is another important factor when it comes to recruiting real estate agents. Of course, you would want to hire those who have a strong “sell count” and a reputation for client satisfaction. The metrics for sales often depend on the brokerage, but around 50 homes on a yearly average is a good starting figure.

    That said, you may also be interviewing someone new to the industry such as a recent graduate or a career shifter. It wouldn’t be fair to judge them solely by their records, as their seasoned competitors will definitely have a leg up on experience. With this, it’s also worth vetting applicants based on the type of homes they have sold and the skills they used to close these sales.

    How do you handle tough clients?

    Encountering a particularly difficult client is inevitable for any real estate agent. As a recruiter, you would need to know how the applicant deals with buyers or sellers they cannot “vibe” with or are too demanding with their criteria. The answer to this question will show an applicant’s people skills, which is a non-negotiable quality for any real estate agent. Qualified applicants must mention the actions they took to address the situation and the results they were able to deliver despite the drawbacks.

    What do you believe are the most effective advertisement strategies?

    A good real estate agent is inherently resourceful. They must know how to maximize available resources, do research, determine the right demographics, and showcase a property’s selling points. Ideally, they should be aware of marketing tools in the digital landscape such as social media, digital ads, and property listing websites. They also need to be creative and be able to craft their messaging around what prospective buyers or sellers are really looking for. By asking this question, you can determine an applicant’s savviness and forward-thinking nature in our current digital age.

    How do you prepare for open houses?

    Open houses are one of those events where every good angle must be shown and everything must be perfect. This question reveals your applicant’s staging practices, which can make or break a client’s decision to buy a property. When applicants are describing staging procedures, make sure to pay attention to what they add and remove to make a property look enticing.

    How do you make sure to meet clients’ needs at all times?

    A real estate agent serves as a guide for home buyers who may not know what they want or sellers who don’t know how to put their properties on the market. Clients also have different personalities and traits, with some being extremely meticulous and others having a more “go with the flow” approach. If you intend to ask this question, make sure to determine an applicant’s process for personalizing their services. This may include the specific questions they ask clients, which you may want to watch out for during the interview.

    What part of your job is the least enjoyable?

    This one is a bit tricky and a lot more open-ended, but it will give you an insight into your applicant’s personality, honesty, and capacity to creatively manage obstacles. There’s really no right or wrong answer to this question, and your applicant’s answer can range from handling mundane administrative tasks to dealing with client frustrations. In the end, it’s up to you to judge the applicant’s cadence and the quality of their answer.

    The Right Questions for the Right Choices

    All in all, these questions are just a taste of what a prospective real estate agent may bring to the table. There are plenty of other industry-specific questions to consider, such as the applicant’s experience with developers and contractors, relevant training, and industry awards. However, these are often considered follow-ups and aren’t as telling as the ones mentioned above.

    Essentially, the questions on this list are meant to uncover the green flags: expertise, honesty and integrity, excellent communication skills, and a strong negotiation mindset. At the end of the day, it’s the answers to these questions that help you determine if an applicant will turn out to be a worthy investment and a valuable addition to the team.

  • Growth Hacks For Aspiring Real Estate Investors In 2023

    Growth Hacks For Aspiring Real Estate Investors In 2023

    Real estate is perhaps the hottest investment because the growth potential is immense. You can start small and multiply your money within a few years. The best part is that you feel secure as you own tangible assets. But you may still feel apprehensive about the risks and wrong decisions. While some risks are unavoidable, you can do your bit to manage most of them. Moreover, wise decisions set you up for massive profits in the long run. You only need some guidance to cover all fronts. Here are some growth hacks for aspiring real estate investors in 2023.

    Prioritize emerging neighborhoods

    Finding rental properties in emerging neighborhoods is the best way to make the most of your investment. Such projects cost less than the popular locations, which enables you to begin with a small upfront investment. However, emerging neighborhoods have the advantage of high growth potential and tax incentives. You can begin with minimal investment, make big money with rentals, and sell at a premium later.

    Diversify your investments

    Although you may want to consider a small geographic area for investment, diversification is the better way to succeed in the industry. The good thing about investing in diverse locations is that it limits your risk, as you can make up for the losses in one area with profits in the other. Also, your profitability potential increases in the long run. Besides investing in diverse locations, consider picking properties of different types.

    Invest in green projects

    The green trend is bigger than ever in the real estate segment, so investing in such projects is the best decision you can make in 2023 and beyond. Check factors like building design, materials, and features before picking an investment. You can dig deep by accessing the wetland map of the location to ensure its eco-friendliness. Buying from a developer with a green reputation is an even better idea.

    Dig deep into the rental market

    Another valuable piece of advice for real estate investors is to dig deep into the rental market in the area. Consider long-term factors like the average rent, crime rates, employment and income trends, and rental demand in the area. Even the best-looking property may not yield returns if the rental market is weak. Dig deep and do your due diligence before picking the property because the best rentals generate a steady income stream that grows with time.

    Set a budget and timeline

    Savvy investors think of real estate investors like any other business to maximize profits in the long run. The best way to do it is by setting a budget and timeline from the outset. Decide on the amount you can comfortably invest to start with, although you can reinvest profits and expand your budget eventually. Also, define the timeline for holding each investment. But be flexible enough to buy or sell when you find good opportunities.

    Aspiring real estate investors can rely on these easy growth hacks to maximize their profits and minimize risks. Embrace them in 2023, and create a winning business even with a small start.

  • Surefire Productivity Hacks For Remote Marketing Teams

    Surefire Productivity Hacks For Remote Marketing Teams

    Marketing is one of the key business operations as it boosts revenues, profits, and growth. Running campaigns successfully hinges on close communication and collaboration between marketers. It is hard to imagine them working remotely because they need to stay connected for more than one reason, from brainstorming ideas to assessing campaign performance and fine-tuning them for better outputs. Moreover, productivity may go wrong when people work without their team members. However, you can lead a remote marketing team without giving up on productivity. Here are some surefire hacks to keep your team members at their productive best.

    Establish clear and realistic targets

    Remote work can be guesswork for employees unless they have clear targets, timelines, and milestones. Establish measurable ones for your marketing reps so that they know the exact numbers they need to chase. Setting KPIs specific to campaigns and roles is a good idea. But remember to keep the expectations realistic because unrealistic ones can stress people out. Anxiety can be a killer for remote teams, so minimize it as much as possible.

    Stay on top of communication

    Marketers thrive on communication, but it can be one of the most daunting challenges when they work remotely. As a business leader, you must empower them with reliable communication tools that keep them on the same page with their team members. Managers should create viable communication processes with daily standups, regular meetings, and weekly roundups. Also, ensure that everyone can reach the others in the event of an emergency.

    Facilitate data access

    Marketing is no longer about guesswork, but marketers follow a data-driven approach. It means your team will require business data to run effectively. But it can be a hindrance when they are out of the office. Fortunately, you can explore Secure Remote Access Solutions to facilitate data access from anywhere. Security should be a priority because customer data is at risk of theft and pilferage when people access it remotely. But a reliable solution can cover you in this context.

    Provide actionable feedback

    It is always hit-and-trial with marketing campaigns. Likewise, marketers can make mistakes while assessing customer personas and designing campaigns. Such blunders can hinder their productivity in remote work settings. But managers can address the concern by providing them with actionable and constructive feedback. However, keep the feedback process simple and avoid micromanagement.

    Foster a comfortable environment

    Remote workers provide maximum productivity when they are comfortable and confident. Marketers are creative professionals, so they need comfort and confidence even more. You can do your bit by fostering a comfortable work environment with trust, transparency, and empathy. Employee bonding is equally vital because isolation can hurt productivity. Integrating virtual team bonding sessions beyond work can help you create a healthy remote workplace. Most importantly, build a culture that drives loyalty and retention.

    Leading a productive remote marketing team is easier than you imagine. Start by sticking with the basic productivity rules, and go the extra mile to enhance communication and collaboration. Add a dose of trust and bonding, and you have a perfect recipe for success!