There was a need to understand how this planner and his company works and what is their modus operandi. By knowing how they work to service their clients and growth their client base was important a context for us to lay the initial foundations. One very important note was that the company he was from did not engage in roadshows and the focus was obtaining and growing referrals.
It started with preliminary research we had to do before the commencement of the project to better understand the industry, how different companies work and their differences as well as to understand how consumers view financial planning as an industry and the rationale for those views.
It led on to sitting in on sessions with the planner and his prospects and watch how he conducted his sessions. This was very important we understood his service levels and the experience his prospects and clients had working with him. And here is why: financial planning is very much about the planner’s service and the experience he gives. Good service and impeccable experience, trustworthy and relatability can go a very long in this industry.
This was followed up by tertiary stage of research, where we conducted interviews with current clients and previous prospects the planner is working with or have spoken to. This helped to give both breadth and depth to the research, develop deeper empathy and generate insights.
The first stage was to develop as-in consumer journey map and emotivity graph. We ran the planner through, showing him at each touchpoint what he did, how the prospects perceived it and felt, emotions, the good points and the gaps to be bridged. An understanding of the current is essential in moving forward as only with knowledge can we get better.
From this, at every touchpoint, positive or negative, there is also an opportunity to work on each of them. However, there will be a need to pick your battles well and strategically focus on some points to work on first. This was followed by the ideation phase to help him better his service and bring about a holistically more valuable, pleasurable and memorable experience for his prospects and clients.
The ideas were categorised into larger taxonomies and also placed on a time-commitment against his ability-to-do-it-himself matrix to allow him to visualise the strategic plan we were building for him. The ideas were also broken down and designed into short-term, mid-term and long-term goals for him to work on and progressively improve his service.