INVESTMENT ADVISER | ISSUE 09 2024 17
UNDERSTANDING THE OVERWHELM
Our recent research surveyed 1,000 UK adults and revealed that the average person holds 119 digital accounts , with 21 specifically in financial and insurance services . This overwhelming number of accounts leads to " account fatigue ," where consumers feel frustrated and exhausted by the sheer volume of logins they must manage . Key findings indicate that 50 % of respondents feel overwhelmed by the number of accounts they maintain , and 43 % avoid new digital services because of this .
This fatigue and frustration associated with managing multiple accounts can significantly slow down advisory services . When clients find it difficult to use financial portals due to poor user experience or security concerns , they are less likely to engage actively with these platforms . This can lead to delays in accessing important financial information , hindering timely decision-making and reducing the overall effectiveness of the advisory relationship .
Our study found that 64 % of consumers have abandoned a purchase because creating a new account was too cumbersome , and 60 % found financial service portals difficult to use . This indicates a pressing need for more streamlined , secure , and user-friendly digital interactions .
THE ROLE OF SECURE EMAIL IN ENHANCING PORTAL ENGAGEMENT
Secure email can serve as a powerful tool to alleviate some of the burdens associated with account fatigue . Here ’ s how it can enhance customer portal engagement :
1 . Streamlining Communications
Secure email provides you with a direct and secure channel for sending critical communications . By delivering important documents and notifications directly to your client ' s inbox , you can reduce the friction of logging into portals for routine updates . This not only ensures timely communication but also increases the likelihood that clients will engage with essential information .
2 . Enhancing Customer Experience
Clients exhibit a strong preference for email when exchanging documents with financial service providers . Our survey found that 65 % of respondents prefer email for sending documentation , and 60 % prefer it for receiving documents . By leveraging secure email , you can cater to these preferences , making interactions more convenient and tailored to customer habits . This approach encourages more frequent engagement with your portal when deeper interaction or additional services are required .
3 . Driving Portal Traffic Through Value-Added Notifications
While secure email handles the bulk of direct communications , it can also be used strategically to drive portal traffic . For example , email notifications can inform customers about new features , updates , or personalised insights available on the portal . By highlighting the value and relevance of the portal content in these emails , you can entice clients to log in and explore further , thereby enhancing the overall portal engagement .
4 . Addressing Digital Fatigue
In our research , we found that password resets are a significant source of frustration , with 20 % of respondents requesting new passwords weekly . Secure email can mitigate this frustration by reducing the frequency of unnecessary logins for minor updates , allowing your portals to focus on providing high-value interactions . This approach acknowledges the digital fatigue that your customers experience and respects their time and attention .
CONCLUSION
Integrating secure email solutions into your communication strategy is not about replacing your customer portal but about enhancing its effectiveness . Secure email provides a seamless , secure , and preferred communication channel that can increase engagement , improve compliance , and enhance customer satisfaction .
IF YOU HAVEN ’ T HEARD OF US BEFORE – WE ’ RE BEYOND ENCRYPTION , CREATOR OF THE SECURE EMAIL SOLUTION , MAILOCK .