Your IndustryAug 17 2016

Platform targets client engagement via social media

twitter-iconfacebook-iconlinkedin-iconmail-iconprint-icon
Search supported by
Platform targets client engagement via social media

Hearsay Social has launched a new client engagement platform that enables financial advisers and insurance agents to compliantly build client relationships across their websites, social media, email and text messaging.

Hearsay 360 gathers client engagement data across these online networks to give advisers a holistic view of their clients’ digital behaviours.

With this information, the platform’s predictive analytics will suggest which client or activities an adviser should react to via an automated list of recommendations, based on the content that is likely to be most effective.

If a client demonstrates interest in an adviser’s social media post by commenting or reacting to it, the adviser will be alerted to respond via Hearsay 360’s automated list, with a suggested action based on what’s likely to be most effective, such as sending a personalised email.

With a few clicks, the adviser can then send a pre-approved, compliant email that matches the client’s interests.

The new platform also plugs in to other core enterprise systems such as compliance archives and corporate CRM systems.

Mark Gilbert, global vice president of product at Hearsay Social said the service allows advisers to go to one place to manage their social, digital and mobile interactions.

“At the same time, Hearsay 360 allows firms to begin measuring large data sets of digital interactions across their entire field organisation, laying an important foundation for efficient and effective adviser outreach and optimisation down the road,” he stated.

Clara Shih, founder of Hearsay Social, suggested advisers know they must modernise or risk becoming irrelevant, but they feel underserved or overwhelmed by existing digital marketing programs.

“Hearsay 360 makes it easy for even the most tech-averse advisers to be findable, proactive and responsive wherever their clients are, including on social, web, text and email.”

Danny Matthews, a broker at Total Mortgage Network and ‘social adviser’ at Advisers Edge, agreed that digital channels represented an untapped resource for most IFAs.

“Many regulated firms and advisers dismiss social media for a number of reasons: concerns over compliance, implementing systems and procedures, learning resources for themselves and staff,” he commented.

Last October, research conducted among 100 brokers for Accord revealed while two thirds of brokers regularly use social media, only half use it for business purposes.

David Robinson, Accord’s national intermediary sales manager, said there was still uncertainty about how to effectively use social media for financial businesses, despite updated guidelines from the Financial Conduct Authority in March 2015.

The FCA’s updated rules stated tweets will be considered standalone promotions, even when they link to a website.

Hearsay Social’s vice-president of legal and compliance Yasmin Zarabi warned at the time that advisers should therefore get their social media policies up to scratch, or risk falling on the wrong side of the regulator.

peter.walker@ft.com