MLC has developed a marketing tool which notifies advisers of potential advice needs within their existing client base.
Available to advisers who use MLC platforms and insurance, the new tool, called My Client Leads, identifies trigger events and prompts the planner to make contact with the client to discuss their needs.
According to MLC, the tool accesses client demographic information, account details and activity from the previous five years to determine potential opportunities for advisers.
MLC Executive General Manager of Advice and Marketing, Richard Nunn, said the tool was developed in response to a growing demand from advisers looking to market to their client base.
He said that a survey conducted by MLC found that 50% of advisers believed that marketing to their existing clients was their biggest challenge.
“Of the advisers we surveyed,” explained Mr Nunn, “Each had an average of 500 clients on their books but only had regular contact with around 20 per cent of these clients, and little resource to improve this figure.
“My Client Leads takes a customer focused approach to the management and utilisation of an adviser’s client base. It leverages life stages, regular events or circumstance changes to encourage contact with clients and kick off a further advice needs conversation,” he said.
MLC includes the following in its list of potential trigger events:
- A change of name or address, which would prompt insurance conversations
- The client has not increased their income protection insurance for five years
- The client has life cover but no trauma cover and has reached an age where this is important
Mr Nunn said that more than 1,850 advisers have so far accessed the tool.
“We’re delighted with the take up so far and pleased to be able to help advisers better service their existing client base,” he said.
