Client acquisition can be a challenge but, of course, it’s essential for your business. Acquisition is often time-consuming, resource depleting and at times can feel inauthentic as you chase the next lead in hopes of successful conversion. Of course, with the right approach and strategy, acquisition can yield great results, but that doesn’t take away the fact that it remains a stress point for many businesses and their teams.
Mainly because acquisition is expensive. Both in terms of cost investment and then the return on that investment, especially compared to retention. A 2022 article from Forbes refers to studies that suggest that client/customer acquisition can cost up to seven times more than the retention of an existing customer. Moreover, retention has the potential to generate profit growth by up to 95% over a period of time - from just a 5% retention increase. But all this doesn’t change the fact that your business still needs to get clients through the door. DocPortal aims to make this a more authentic, efficient and profitable process for your business. Our Digital Executor feature not only services your existing clients with a convenient legacy tool, but also your business with a revolutionary acquisition tool.
DocPortal’s Digital Executor
DocPortal empowers you to make legacy planning much easier for your clients, with a streamlined digital platform for secure sending, sharing and storage of all their important documentation. With the addition of DocPortal’s Digital Executor feature, your business can also provide your clients with a digital and future-proofed solution for appointing an executor for their estate.
Not just a digital legacy management tool for your clients though, our Digital Executor feature enhances your client servicing, improves your client-partner relationship building, streamlines your business processes and improves your ROI when it comes to acquisition and retention.
DocPortal’s Digital Executor is:
- A referral, acquisition and retention tool
- Compliant and secure every step of the way
- More efficient for legacy management
- Convenient, providing peace of mind for your clients
- Cost-effective with a better ROI
How it works
Here are three ways our Digital Executor feature works to make acquisition better for your business.
- Authenticity
Establishing leads and making initial connections can be challenging, cold leads will take a lot more time and resources nurturing into converted clients. In addition, with GDPR and other data protection limitations you also need to ensure that every step of your acquisition process is compliant. This can make reaching out to potential clients stressful, time-consuming and costly.
With DocPortal, the Digital Executor feature gives your business a completely compliant tool to optimise your existing client connections, encouraging referrals in a much more organic and authentic way. As you onboard digital executors for your established clients, you will naturally find yourself establishing connections and can then begin relationship building and nurturing through that already established point of contact.
- Efficiency
One of the reasons acquisition can be so expensive for businesses is because it is time-consuming, and requires a lot more resources to attract, nurture and convert new clients in comparison to retaining an existing one. So how does DocPortal and the Digital Executor feature make this more efficient for you?
As well as providing you with instant referral opportunities, much like every other DocPortal feature, the Digital Executor is designed to streamline your client workflows and minimise daily tasks for your team. With the Digital Executor feature, you make legacy planning and management easier and more autonomous for your clients. With documents easily shared, stored and accessed in the DocPortal platform, your team can spend less time managing unnecessary admin, and more time nurturing new referrals and leads.
- Profitability
In addition to being a client servicing tool, the Digital Executor feature is also a great marketing tool for your brand. When you and your clients onboard their digital executors, you are instantaneously amplifying your brand exposure and building brand awareness amongst potential leads. Again, having this natural connection and link through the functionality of the Digital Executor feature provides you with acquisition opportunities without any additional marketing or strategy investment.
Of course, from here you can then easily service your clients and executors with a great platform designed to improve their experience of legacy planning and management. So alongside more economic acquisition, you are also benefitting from a brilliant retention tool. Your client’s satisfaction ultimately translates to an increased client lifetime value and therefore better ROI.
What they say
The Digital Executor feature within DocPortal has been a stand out amongst our existing business users and their clients. From seeing real results in client acquisition to more effective legacy management for clients, keep reading to find out what some of them have to say…
"Since implementing the Digital Executor feature, we've seen a significant increase in client acquisition and satisfaction. Clients appreciate the convenience and peace of mind that comes with knowing their legacy is in good hands." John, Financial Advisor.
“The DocPortal smartphone App has proved to be an engaging, elegant and client-friendly solution and its innovative Digital Executor functionality has added further value to our legacy management propositions. All-in-all, highly recommended.” Mark Pritchard-Jeffs, Partner Coach / Mentor (Retired Founder Pritchard-Jeffs).
“There is the Digital Executor function as well that we love. We’ve currently got an email drafted up to send out, which again DocPortal helped us with, around a digital executor campaign so that’s exciting, and of course it’s a brilliant referral tool for us as a business.” Prospera Wealth Management.
“From an advisor’s perspective it’s also a really cost-effective way when you look at it on an individual client basis. We obviously see a massive benefit to having the Digital Executor function as it’s such a nice, easy and gentle way to reach out to those digital executors. It will help us start building up that goodwill with them, and building relationships in the future.” Tweed Wealth Management.
Read more from our existing DocPortal users here if you want to learn more about how our Digital Executor and additional features are benefitting real businesses like yours.
Or get in touch with our team to discover more about our platform and schedule a demo today. We’d love to walk you through how we can support you with the tools that will transform your businesses processes, streamline client workflows and enhance your client servicing.
