Most people are fed up with GDPR. But, with hefty fines for non-compliance it’s vital you know how to communicate with customers in this brave new world.
Helping with this, Dave Newick, MD of Arken.legal is running a must-watch 60-minute webinar to highlight how – while being a massive change – GDPR offers enormous opportunities for estate planners that seize this chance to innovate.
FREE WEBINAR: REGISTER NOW TO FIND OUT HOW TO CONNECT WITH CUSTOMERS POST-GDPR.
We interviewed Dave to give you a snapshot of the topics set to be discussed in the webinar.
Q: How does GDPR affect the will-writing and estate planning sector?
I am sure everyone is tired of hearing about GDPR. We have all received a lot of emails asking us to update our preferences; although we can ignore these, we can’t ignore the impact of the legislation if we want to ensure compliance.
For example, clients now have to consent to receive marketing communications. For most businesses, this means that up to 90% of their current data is unusable.
GDPR also fundamentally changes the nature of our relationships with clients. Today it’s about quality, not quantity. This provides the opportunity to put an end to spam and focus on communicating with people that want to talk to us.
Q: What steps would you recommend post-GDPR?
The focus must be on quality conversations and interactions with a targeted audience. To do this, businesses need to establish a new customer interaction strategy.
Firms that fail to innovate, when change is happening, tend to fail. Would you like to be a Blockbusters or a Netflix? They both had the same start but one spotted an opportunity and went with it, while the other didn’t. It is no different in our industry.
Q: What role do you see technology playing?
Technology is a huge enabler when it comes to compliance and customer engagement. Technology is changing all the time and there are significant enhancements that will disrupt our current ways of working – embrace this and use it to your advantage. For example, with tech, you can automate low-level tasks and use the extra time to communicate and market in a different way (e.g. social media, face-to-face) and focus on where you add value –building the customer relationship.
The cloud technology also makes software that previously would have to have been installed and a large upfront outlay in terms of software and infrastructure, accessible to all. You can get the very latest technology without a large investment.
Q: How is Arken.legal helping firms post-GDPR?
Everything we do is for the benefit of our customers. Our founders saw an opportunity to automate estate planning documentation and today we help clients draft simple Wills in half the time, with complex Wills completed up to four times quicker. Our products will continue to evolve in line with the changing landscape. Watch this space as we have a lot to say!
Significantly, Arken is cloud-based and has robust levels of security. Indeed, while you might be concerned about the cloud, datacentres invest heavily to protect themselves against all threats. It’s almost impossible for any but the largest of businesses to create the same level of protection in-house.
There’s no doubt that the future of estate planning is digital. One of my favourite quotes is from Winston Churchill “to improve is to change, to be perfect is to change often”. Change equals opportunity, so embrace it and watch your business grow.
s and take the required steps to improve, the results are often transformational. For example, I have seen a firm who averaged a 15% conversion rate, increase to almost 90% in just three months, while putting their fees up. Merely by changing a few key things about the way they dealt with quote enquiry calls.
Find out more about how Arken.legal’s will-writing software works.
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This article was submitted to be published by Arken as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
