This year has challenged us all in ways we never anticipated. But we’ve never lost sight of our commitment to connecting our customers with the expert advice they need to improve their financial lives.
Our teams have worked closer than ever despite remote working. Together, we’ve followed and reacted to market and consumer trends to ensure our marketing efforts address our partners’ and customer’s ever-changing needs.
We’ve faced many obstacles. And while we haven’t always been victorious, we’re all the stronger and wiser for it.
Here’s a look back at what we’ve achieved in 2020.
Helping our partners grow their networks
Since the business adopted an agile working method last year, we’ve increased productivity significantly. Our digital marketing teams can now plan and implement marketing campaigns much faster. Agile working has also helped us improve our campaigns and generate the leads our partners needed to support their businesses’ continued growth.
From testing variations of our brand website pages to optimising our paid media campaigns across digital channels, our marketing experts worked to get the best results for our partners. With their efforts, they’ve helped us achieve some fantastic results.
- Total ad impressions: 256,046,990
- Total ad clicks: 1,677,653
- Total traffic generated to B2C pages: 1,577,293 visits
- Total gross leads generated: 106,943
We’ve also used 2020 as time to experiment and refine our lead generation pages. Our digital experts ran 177 tests across our B2C pages, all in the name of finding more quality customers for advisers like you.
Supporting our nationwide partners
In the face of adversity, we needed to ensure the business had a clear strategy that would support out partners moving forward. In July, our former head of strategy, Andy Longhurst was appointed as our managing director. His leadership, experience and scope have given us the vision we needed to support our partners when they needed us the most:
- Total time account managers spent in video calls: 768 hours (32 days)
- Total time account managers spent on the phone with our partners: 192 hours (8 days)
While our partner success team is always available to help our partners achieve their business goals, they never anticipated the obstacles they would face.
Strategic account manager Emmalene Hawley explained:
“Our partners had to change their processes and ways of working very quickly in order to react to the challenges of lockdown. Lead Tech was able to support by providing a steady stream of enquiries to help keep partners’ pipelines going as they transitioned to working in new ways.”
Account manager, Abigail Daniel shares other ways the team provided support: “Remote working was completely new to many of our partners. We gave them extra help and guidance wherever we could, whether that was contact strategy training or advice on using digital tools like Zoom.”
Supporting our customers
Our in-house customer experience team is essential to our success. They ensure our customers are satisfied with the advice they receive from our partners. They also offer support and reassurance to customers receiving financial advice for the first time, helping them prepare for their initial consultation.
With the pandemic at the forefront of people’s minds, the team manned the phones as calls increased from customers worried about their financial futures.
The team helped our customers get the advice and support they needed by spending an incredible 2,982 hours speaking to customers. That’s over four months’ worth of time listening to and helping people in financial need.
What did our customers make of our CX team? Their 288 5-star Trustpilot reviews across our brands answers that.
Job security, illness, market instability and uncertainty about the future were common concerns that our customers addressed this year.
Customer experience executive David Ritchie reflects on the first lockdown:
“Many people were scared. With so many worries about the pandemic, finances and their health, they didn’t know what to do. We listened to our customers and found that many just needed someone to talk to, and the reassurance that speaking to an adviser could help them find peace of mind.”
The changing market in 2021 and beyond
The uncertainty of 2020 has helped many people realise the importance of financial advice but others are still not getting the support they need. The Financial Conduct Authority (FCA) and HM Treasury plan to report on the outcomes of the Financial Advice Market Review (FAMR) and Retail Distribution Review (RDR) later this year.
We’ve seen the financial advice gap grow in 2020 – and the market has changed dramatically since the FAMR’s launch in 2015. But with the help of the FCA, we’re hopeful that by addressing the needs of today’s advice customer, the industry can be in a better position to close the gap.
If this year has taught us anything, it’s that customers’ needs are changing faster than ever. We’re determined to improve our customer understanding through market research, data and insights. This ongoing work will help us better support emerging customer needs.
Retirement customers’ lives are evolving as they face more complex demands in later life. Many of the customers we see face challenges such as divorce and caring for older parents and adult children. While others are struggling to accumulate wealth as they achieve financial stability in later life.
Research from the Office for National Statistics (ONS) reveals that the number of people at pension age is growing faster than any other age group and is expected to exceed 15 million in 2043. With the help of our partners, we can do our part to help them get the advice they need.
The future of Lead Tech
Establishing product teams in 2019 allowed us to generate more quality leads for our partners in 2020 and react to the changing needs of our customers. This helped us implement creative campaigns, test and fine-tune them faster as we continue to improve our digital marketing strategies.
Managing director Andy Longhurst said:
“Throughout the uncertainty of 2020, what has remained consistent for our partners is a growing need for long-term financial security – and for many, support to improve their current position.
The way we communicate with our customers may have changed, but their need for financial advice has also grown. We’re also seeing an increase in younger customers seeking advice as they recognise the importance of long-term financial planning.
We aim to offer our customers greater choice, enhance the diversity of product ranges and introduce additional service solutions to our partners in 2021. And with our continued investment in tech and AI to deliver industry-leading results, the New Year is already looking full of exciting opportunities.
Our people remain the heartbeat for success at Lead Tech. As we venture into new ways of working, the team’s personal growth and development remain a priority. By investing in our people, we can ensure continued success for our customers, partners and drive the business further.”
Joint CEO Paul Walsh added:
“2021 is quickly approaching – and we all need a moment of calm reflection. In a year of rapid change, we made significant progress toward the creation of a new future.
So, what’s in store for 2021? We want to optimise our existing products, look for opportunities to move into adjacent markets and look to enter ‘new to the business’ markets. To achieve these ambitions, we need pinpoint focus on the development and provision of new services that better reflect the needs of our partners and customers.
We will also need to modify the work styles of our employees in preparation for the with-corona or post-corona environment of the future. Our priority is to ensure that we have diverse options. We want to develop an environment that will support creativity, enable outstanding business performance and achieve a great work-life balance.
I’m optimistic that 2021 will be a better year. And as we look forward, we must never forget those who have not been as fortunate. I am confident that together, we can make the new year, the best year.”