You have most likely heard the term customer relations management used quite frequently in the business world. In fact, most financial advisers have a vague idea of how these platforms operate. Otherwise simply known as CRM, most professionals will classify this broad spectrum of client engagement tools into internal operations; not to be confused from a successful marketing strategy. In fact, the two are highly interrelated and need to be looked at as one in the same. Let us look at why this is the case.


It is first important to recognise the fact that one of the main reasons that CRM platforms are often considered to rather “in-house” operations is the fact that they deal with software more than more active marketing campaigns that are easily noticed. This fallacy has allowed CRM to slip somewhere between a standoffish monitoring of a financial company’s activities and a mere “answering service” for client requests. Unfortunately, a great deal of marketing potential is lost if these systems are not utilised to their fullest. The bottom line is clear: customer relations management software needs to be fully integrated into any existing marketing campaign. Why is this the case?

No Longer Black and White

What is the primary aspect that countless individuals loathe regarding tax return forms? The average person would most likely answer that not only are they entirely confusing, but they appear cold and impersonal. It is a fact that a great number of IFA-related websites often appear the same. From a visitor’s standpoint, this is an immediate turn-off and will often result in them leaving a page before they take a look at the services that a site may offer. If your site is experiencing high volume but little active interest, this may very well be the case. So, actively helping customers is obviously just as much of a priority as it is to present them with the more relevant information. In a phrase, this can be interpreted as “Look at what we can do for you, and look at the help that we can provide!”. Such an impression is critical to appropriately market an IFA site in the 21st century.

Passive Versus Active Marketing

CRM systems fall unto the category of what is known as a passive marketing strategy. This is important to understand, for it is rare that a financial adviser is also adept at marketing terms. Active marketing represents a company’s outward displays of PR (posts, video campaigns, email updates, etc.). Passive marketing is essentially when a company will promote their services indirectly through their levels of customer care and relations. In other words, a customer will “like” the company just as much for its personalised approach as he or she will for its bespoke knowledge base. It takes both of these metrics to help properly market any IFA enterprise in times that are defined by a massive amount of local and global competition. So, a robust and proactive CRM strategy will truly allow your financial advisory firm to rise above the rest.