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For advisors, personalization begins with deep customer understanding

August 27, 2020
clock 2 MIN READ

Where do you go when you’re looking for a personalized experience? To Spotify for your very own Summer Rewind or Discover Weekly? To Netflix for a new movie suggestion to enjoy this weekend? 

Today, consumers search for personalized experiences in all facets of their lives. What used to be an occasional recommendation that seemed all too perfect for you is now mainstream and an expectation. 

For financial advisors to compete and build loyalty with valued products and services, personalization is no longer the exception – it’s a business imperative. It goes beyond seeing your name at the top of an email. As Seth Godin says, “[Personalization] is a chance to differentiate at a human scale, to use behavior as the most important clue about what people want and more important, what they need.”1 

To truly personalize an experience, you need a deep and continuous understanding of the customer’s journey, goals, needs and interactions. Once you have this foundation, you can customize your messaging, products, services and key touchpoints (moments that matter) to resonate uniquely with that specific customer, deliver meaningful value and achieve the business results you’re looking for. 

The ones who have truly understood and mastered the real value of personalization are five of the largest technology companies in the world: Facebook, Amazon, Apple, Netflix and Google (FAANG). In this Fintech Direct article, “Changing the face of financial advice with data and Al”2 I shared my thoughts around how the financial services industry can take notes from the FAANG companies and transform today’s financial advice experience.

Read the article.

1 Clinehens, Jennifer. "The psychology of a personalized customer experience,"  
2 Kliman, Russ. "Changing the face of financial advice with data and AI,"

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