The customer journey to seeking advice

The customer journey to seeking advice

The customer journey to seeking a broker is often a circuitous one.  

Although the imagined journey might begin with a thought, googling a key word, clicking on a service, and then buying a product, that is only ever a limited number of simple engagements. In reality, these journeys are often more complex and varied than a binary view imagines. 

They may start with a discussion with another person, dip into online to see what’s available, loop back to a friend or relative who may have some experience, then zip online again to look up consumer reviews. Checking several websites that are a mix of direct and advised offers could then be followed by starting and abandoning an online form to buy, sometimes in parallel with making inquiries at a call centre or with a broker… and so on. 

In short - many follow zig-zag routes between channels and different information sources, until they arrive at a combination of information, assistance, and product which finally gives them the confidence to decide – and that may or may not include a product purchase. 

Consumers are often surprised at the complex information brokers need to gather just so that we can advise them and apply for insurance. In recent times, the introduction of more stringent requirements for establishing identity have contributed to this complexity. The non-expert simply sees it as part of a whole process that is sometimes baffling, and frequently frustrating. 

It may be a logical choice for a consumer to accept a poorer product solution if they wish to avoid lengthy meetings or complex forms. The ‘hassle factor’ creates a barrier to advice-seeking which is only worth crossing when really needed. 

So what constitutes ‘really needed’? Our experience tells us that the more complex a person’s financial life, the more likely they are to require expert assistance. For the best advice, contact an Insurance Advisernet Member Broker today. 

General Advice Warning

The information provided is to be regarded as general advice. Whilst we may have collected risk information, your personal objectives, needs or financial situations were not taken into account when preparing this information. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product.

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