Marketing the e-asy way

You could be forgiven for thinking all sales avenues for building protection business have been explored. But the internet offers opportunities that have yet to be fully exploited ' particularly by the UK financial services industry.

A large number of IFAs do not proactively seek new business, preferring to receive enquiries by word of mouth. However, many admit increasing their client bank should be a bigger priority. Finding the time and methodology is the challenge.

For many, electronic trading is seen as another way to write the same business ' quicker and easier without the need for paper. Yet surely we should be looking to technology to help us increase business levels. Ideally we want technology to:

• Help IFAs write the same business quicker, and with less hassle.

• Help IFAs to increase the number of cases written per client.

• Provide IFAs with all pre-sale supporting information: quotes, key features, sales aids and so on.

• Provide IFAs with all post-sale information: case progress reports, acceptance details and commission.

We are nearly there, but there is still much we can learn from other industries about using technology to maximise sales.

Many IFAs have been convinced of the need to have a website, but many more have yet to realise its potential. Primarily a good website provides the opportunity to keep existing clients happy via your 'virtual presence' and to attract new customers.

IFAs' websites are usually brochures, and given the current sales and regulatory process, there are limited opportunities to build new sales over the web. There are very few providers that can take a client from end to end in the protection-buying process, but there are other things you can do with a website to help build sales in the future:

• Target specific types of customers: people with mortgages, school fees to pay, business owners and professionals in partnership.

• The opportunity to be 'open' 24-hours a day, every day ' don't assume clients work the same hours as you.

• Provide free financial statistics, information and presentations. The internet is used primarily for seeking news and information, and customers like to 'help themselves' anytime, anywhere.

• Generate awareness and credibility.

• Enable rapid communication between you and your clients.

One of the most underused aspects of having a website is the ability to capture information about visitors to your site. However, the most important piece of information about a visitor is their email address.

Email marketing has been slow to take off in the UK, and much of it has been delivered in an ineffective way. The financial services industry has been particularly slow to embrace the opportunities it offers, but as a means of providing tailored communication, there is even greater potential than direct mail.

It is important to note email should be considered as just one part of your overall marketing mix ' each complementing the other. Not all clients are the same, and it is important to find out which communication channel they prefer.

Phil Calvert is proprietor of Training Strategies