Messenger Bots – How Advisors Can Use Them to Grow AUM

What is a Bot?

"Bot" is a generalized term used to describe any software that automates a task. Business owners can now build chatbots into Facebook Messenger to automate conversations with prospective clients.

https://blog.hubspot.com/marketing/facebook-bots-guide#sm.0014yq8h110uoetctg01uxh4f2xym

Bots can understand conversational language and also learn from it.

How Financial Advisors Can Use Facebook Messenger Bots for Business Growth

Chatbots Encourage Optimal Client Satisfaction

Client satisfaction is the holy grail of client retention. It’s really important for your prospects to feel valued and cared for throughout the entire sales cycle and lifetime as your client.

Now the big question is: How can you be more accessible to satisfy your clients?

Answer: Provide 24/7 customer service.

Yes, it’s impossible from a human standpoint; however, this would be very easy for chatbots.

In this age of instant gratification, chatbots are programmed to offer an instantaneous answer to your clients and potential clients’ questions, regardless of the time of day.

More importantly, they’d be able to communicate with a voice consistent with your brand.

Going forward, bots would be an obvious extension of your brand’s user experience and could act as a chief catalyst for your firm’s future growth.

Messenger Links and Customer Matching

If you've created a page for your firm on Facebook, Messenger Links will use your Page’s username to create a short link (m.me/username).

When someone clicks that link -- regardless of where they are -- it will open a conversation with your firm in Facebook Messenger.

If you have phone numbers for clients or potential clients and have received permission to reach out to them, you can find them on Facebook Messenger via customer matching.

Conversations initiated through customer matching will include a final opt-in upon the first Facebook Messenger communication.

Learn more: https://blog.hubspot.com/marketing/facebook-bots-guide#sm.0014yq8h110uoetctg01uxh4f2xym

Help Answer Client Questions

Through messenger bots, financial advisors can create a database of well-researched answers and advice so that anyone could ask a question about investing, portfolio management, tax planning, saving, budgeting, credit, etc. and receive an immediate response.

Sophisticated agents can hold entire conversations.

Learn more about this feature here: https://venturebeat.com/2017/01/15/how-i-built-and-launched-a-personal-finance-chatbot-in-six-months/

Executive Summary

Over time, chatbots will be a major point of interaction with your clients and potential clients.

Artificial intelligence has reached a stage in which chatbots can have increasingly engaging and human conversations, allowing financial advisories to leverage this inexpensive and wide-reaching technology to engage with more interested parties.

Chatbots are particularly well suited for mobile — perhaps more so than apps. Messaging is at the heart of the mobile experience, as the rapid adoption of chat apps demonstrates.

Financial advisors can use this new tool as an edge to advance their firm’s growth by providing timely information to prospective clients and promoting strong relationships with their current clients.

The introduction of a quality chatbot can help them endorse special services, deliver personalized content to clients, and generate high quality leads directly through social media platforms.

Learn more about chatbots at the following links:

https://www.entrepreneur.com/article/294418

http://www.businessinsider.com/chatbots-are-coming-to-financial-services-2016-8