Setting your customers up for success: Engagement for their next new normal


Monday, June 8, 2020 | By Larry McQuaid, Head of Business Development

Setting your customers up for success: Engagement for their next new normal

Since the start of the COVID-19 crisis, most of us have been flooded with pandemic-related updates, insights and communications from our employers, retirement plans and financial advisors. Equipping individuals with content that helps educate and empower them to make better decisions is a key capability and highly valued by stakeholders. During this crisis, it has become invaluable.      

Before the pandemic hit, 21% of working Americans weren’t saving anything at all.1 Having an emergency fund, rebuilding retirement savings, and managing debt are just some of the areas Americans will need support and guidance now and over the coming months. How will you adjust your engagement to align with their ever-evolving financial needs? We recommend laying the groundwork now so when your clients’ next new normal arrives—whatever that may be—they’re better equipped. And they’ll have you to thank.

Driving a high level of personalized customer engagement can be a challenge, even when there isn’t the specter of a crisis. Content has to do more than just appear in front of your clients. It has to convince them that your business understands their unique needs and is singularly capable of delivering on all their expectations. Not every firm will have the necessary in-house expertise, resources and capabilities. Not every firm is equipped to rapidly deploy tailored, multi-faceted content quickly and cost-effectively.

And if you do have the capabilities, do you have the stamina to sustain and evolve your customer engagement given today’s business environment, where unanticipated needs and new priorities have become routine, not only for your customers but also for your business? Some firms simply won’t have the bandwidth.

If you fail to proactively deliver content experiences that your clients find relevant, you risk losing the goodwill you’ve built up during the crisis. And over time, you can expect a drop-off in engagement, customer loyalty and assets under management (AUM) opportunities. Doing nothing clearly isn’t an option. You’ll do a disservice to your clients; your business will lose out in the long term. To succeed, additional support and expertise may be needed.

This is why we launched our new suite of multi-faceted communications and educational resources—so you can support your clients as they pivot to their next new normal. Our solution includes multi-media, interactive experiences and in-depth analysis to accommodate your clients’ different learning styles and engagement preferences while allowing you to engage them in every channel. Content takes into account shorter-term needs as well as looking to the future. Topics include:

  • Facing unexpected health care costs, financial options to consider
  • Paying down debt incurred during the COVID-19 crisis
  • Prioritizing expenses that may outweigh your current income
  • Paying down credit card debt acquired during the crisis
  • Facing a job loss, look at rollover options
  • Trying to time the market? Market volatility of recent months shows the futility
  • Being prepared for the next crisis with an emergency fund
  • Making up for plan contributions lost during the crisis

As your clients navigate to their next new normal, they won’t have the same needs as one another, and in some cases, they may have multiple and competing priorities. Continue to deliver the value and insights your clients have come to expect from you with SS&C Retirement Solutions' newest suite of financial education and wellness solutions. Contact us to discuss how SS&C can help.

1 https://www.bankrate.com/banking/savings/financial-security-march-2019/



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