The digital world is transforming the way people do business. Just like what the advent of word processing meant for typewriters and what the dawn of emails meant for the postal service, any new wave of digital innovation has always meant make or break for all business models regardless of sector. For the digital approach forces organisations to adapt, innovate and take creative leaps in conducting business.
Take for example what is widely considered a digital breakthrough: Netflix. This streaming service with a breath-taking array of commercial-free content is in fact a 20-year-old company. It started off as a movie-rental company shipping DVDs across the US. Along the way, Netflix strengthened its logistics and data analytics, opened up a feedback channel with subscribers which not only helped them keep in touch with user tastes but also improve its accuracy of predictions manifold.
Similarly, companies like Dominos, Ikea and Tesla have embraced and are thriving in the digital atmosphere by improving transparency and connect with their customers. Embracing the digital way comes with several advantages:
Visibility
Tapping into the digital world can bring your brand instant visibility with minimum spending. This can not only help with top-of-the-mind recall with your audience, but it can also help establish a trusting relationship which can translate into sales.
Access to Data
Interacting with people in this sphere can open you up to valuable data and insight including demographic details, the kind of traffic your website or a piece of communication receives, percentage of sale conversions, almost instantaneously.
Bigger Margins
With the volume of digital savvy users on the rise, adding relevant links to your communication can immediately direct your investors to your website or portal to choose products that will lead to more business for you. Providing this ease of access to investors can help in casting your influence wider and tap into a growing pool of interested investors.
Increase your sales margins while reducing your margin for errors:
Tech enablement can act as an effective facilitator. When it comes to harnessing the power of digital, there are many tools that a distributor can employ to increase efficiency, speed and scale his/her business both via apps or web based platforms.
One such tool is the Aditya Birla Sun Life Partner App (https://partner.app.link). This app is a dedicated mobile application for IFA partners to create a simple and convenient sales and servicing experience for their customers. This convenient and time saving tool comes with many useful features, including:
- The ability to purchase, redeem, book SIPs, STP, SWP and switch between investments with just a click.
- Assist your customers with the filling of their eKYC and help make investments in real time.
- Create folios for your customers anywhere, anytime.
- Access to Partner Sales Summary Report, Customer Transaction Report, AUM Report, Product Lists along with a Calculator to provide instant calculation of returns.
Another useful tool for all distributors is the Partner Portal App. This app is your one-stop-shop to manage all investor-related data from the comfort of your mobile/desktop/laptop/tablet. The portal has an easy login system, and provides a whole host of quick to access details that simplifies work.
Partner Portal empowers you with the following benefits:
- Recommends and initiates transactions for investors.
- Ease of access to Transactions, Broker Performance, Fundwise AUM, and Brokerage Reports.
- Access to financial planning calculators, latest products, news and updates.
- Email statements of accounts to your investors.
With a growing number of investors, as the industry opens up, the key will be time management, reach, communication and efficiency. Technological adaptability can go a long way in ensuring that. The digital world, arguably, is still relatively new. There are no set rules to follow, and customers tend to gravitate towards those that can offer them the innovation no one else can. It’s time to make the most these digital offerings to scale higher in business.
