Why Digital Disruption Matters for Your Practice

The bad news is you cannot buy a DCX solution. The good news is, you can build it, and the better news is, it is not that difficult. You simply take your client experience (CX) and digitize it, this assuming of course, that you have outlined your client experience.

The second misconception is many owners believe it is marketing automation technology, such as social media, emails, videos, apps, etc. designed to fill up the sales funnel and attract prospects and new clients to the firm. These are certainly digital technologies, however, they are not your DCX model.

A DCX model is how your existing clients (not prospects) experience your brand and services in the digital environment, as a client.

Do your clients engage with you in a deep and meaningful way through technology? Do your client requests, needs and wants get fulfilled digitally, without coming directly in contact with a person? Do your clients view your brand as technologically advanced? And finally, most importantly, does your technology make life easier for the client to work with you, or harder?

Mapping Out CX

There are two ways to know how your clients perceive your brand. First, you can ask them through a client survey. Second, and often the best way, is for you to map it out.

Mapping out each step and technology tool used to help the client get support will allow you to visualize the full picture of your firm's digital components. From there, you can decide if it needs improving.

When doing this kind of mapping with our clients, firms can see what improvement needs to be made, and most importantly, that their clients need more ways to engage with advisors directly, quickly, and digitally.

The great news is, if your CX journey already is mapped out, all you need to do is make the journey digital with the goal of delivering client service faster.

Here is the ultimate question every advisory firm needs to ask themselves now: How can our clients ask for help and get their requests filled as fast as Uber can deliver a ride?

The firms that have figured out that formula are the one's who are winning.