How to Mine Customer Data from Financial Advisors

Delicious customer data is locked up in your advisor’s laptops. The valuable results of candid customer conversations are sequestered with advisors in the field, but that data could do wonders for your organization. The data helps create a holistic view of your customers, build more engaging campaigns and inform high-level strategy. A clearer view of your customer becomes a force multiplier for your entire organization.

Here’s how you can start mining customer data from the field and paint a clearer, holistic view of your customer.

Bridge Sales and Marketing to Facilitate Data Sharing

Customer data seems to only flow one way, from marketing to advisors. To open the doors to communication, an organization should consider integrating lead, prospect and customer data from marketing with sales tools, like a CRM.

Once you’ve opened the floodgates to allow customer data to flow both ways, data from sales interactions will flow more quickly into marketing platforms.

  • Decide how data from sales teams should be structured to benefit the highest number of teams.
  • Add solutions to your martech stack that automate data collection from sales and scale it with your business.
  • Make it easy for sales teams to dump their customer data off for marketing or even better, make the process invisible by scrubbing communications behind the scenes for customer data.
  • Act on sales data by actually updating your customer profiles, driving changes to messaging, cadence and creative within marketing.
  • Make it easy to share new, vetted data from sales to other teams such as accounting or tech.

Create Marketing-Triggered Reminders for Advisors

Create tasks for advisors based on marketing efforts. This encourages advisors to keep marketing’s guiding hand in mind as they reach out to prospects and leads and deliver value to potential customers. It’s also a sneaky way to capture sales data! Here’s an example of roundtrip customer data using Salesforce.

  • A prospect is flagged by an advisor. They had a successful phone call and the customer wants to know more about your retirement products.
  • The prospect’s new lead score flows from Salesforce Sales Cloud to Marketing Cloud, adding the prospect to a new segment.
  • Content is emailed to the prospect from Marketing Cloud, when the email is clicked through, it creates a task in Sales Cloud, alerting the rep that it is time to call the customer back.
  • If the email is never clicked, another reminder appears that has the advisor reach out with a personalized letter.

By tracking how the prospect responds in this simple example, using only reminders for the advisor, the marketing team can guide the advisor through the correct touch patterns and measure what types of touches work. This example, though basic, can give some insight into cadence and messaging that works with different demographics.

Make it Easy for Advisors to Communicate with Marketing

Use or build tools and processes that break down all barriers with marketing. In the above example, there isn’t a third party, point solution that’s mucking up the works. It is just pure Salesforce, so neither marketer nor advisor has to leave their platform to deal with an administrative task.

There’s a lot of talk about data lakes, structured and unstructured data and how big data will change the future of business. None of that will work if your sales teams are simply not recording the data. Part of this communication means establishing exactly what you need from the customer or offloading some of the data collection onto the customer themselves in the form of self-selecting questionnaires, widgets or other interactive elements in your content.

Building a holistic view of the customer is a challenge for any organization, but the payoffs are worth the effort. You can learn more about how top performers are tapping their data reserves in our Survival Guide for Financial Services Marketers.

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