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Future Fit Advice
3 MIN READ

How to gamify your business to build trust with clients

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Advisely-Team
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6 months ago

Here, one expert shares a three-step process to gamify your business with a goal of building trust – and your business – along the way

Building trust with clients is a tough task in an increasingly digital world, where the opportunity to build rapport is limited. 

But Fraser Jack, who previously ran a financial planning practice and has since spent 20 years working in the industry as a technology specialist, believes it’s not impossible. 

“Trust is a really interesting piece when it comes to managing relationships online, because trust is a lot easier to build in person,” he explains. 

“Once you shake someone’s hand and you’re in their proximity, you send a number of non-threatening signals with a smile and open body language. It’s very hard to do the same without being in or near their personal space – it takes longer to develop trust,  with more touch points needed and more effort put into delivering on a promise and delivering value.”

As the founder of The Cyber Collective, he empowers financial advisers and other industry professionals to both manage their cyber risks and optimise the way they interact with clients in an increasingly digital world. He believes the key to success is in “providing helpful value that understands the individual and what they're going through”, in order to establish yourself as a trusted partner. 

To build trust using gamification – which is simply using elements of gaming to create a compelling and enjoyable way to engage with clients and partners – he suggests the following 3 step-process:

1. Gather data to know your audience

Before you can serve your audience, you need to understand who you serve best.

“If you’re good at helping 40 year old professionals, or you’re good at helping retirees get ready for the future – you can focus your communications on that demographic,” Jack explains.

“When you’re really clear on your audience, you’ll attract those people and repel others in that space.”

2. Offer an incentive

“Once you segment your client base, you’re able to work out what those in your targeted audience are worried about due to their age or lifestyle or situation. This is more effective than giving blanket information that doesn’t specifically speak to them,” Jack says. 

For instance, you might send a short but engaging newsletter to your target audience every quarter to remind them of key dates or milestones related to their financial health. To get them to engage, you could use gamification elements such as points, badges or even leaderboards to encourage participation. 

They might earn points for every time they respond to requests for actions like submitting documents within a deadline; updating their contact details with you every 6 months; or referring you new business. Once they earn a certain amount of points, they receive a gift card or discount. 

Keep in mind that when seeking to engage with your clients, “you don’t always need to solve problems” to build trust, Jack adds. “Sometimes, you just need to show empathy.”

3. Be consistent in your execution

Whatever your method of gamification – whether it’s introducing points and badges, engaging with your clients via a weekly video update, sending them a regular blog, or running an incentive program – you need to be consistent and patient, Jack advises.

“You might do the same thing 100 times and it’s the 101st time that someone takes action. It’s about the marathon and not the sprint,” he says. 

If you’re sending out a weekly blog or monthly newsletter, by being consistent your audience knows what to expect from you. This is a powerful way to develop rapport and trust, 

“It’s about thinking long-term and where you can get to after a year, not after one month,” Jack says. 

“I like to think of it as compound interest – if you’re trying to build your email database, then adding 1 or 2 new people every week when you send it out is going to add up over time.  

“And remember: you can’t get to your 100th episode of anything until you’ve done your first. So just get started!”

 

Updated 6 months ago
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