Mar 21, 2019
Power shift
Power shift
It almost goes without saying that the world is changing, faster than we can possibly even recognise.
Less than two decades ago, most of us didn’t have a stable internet connection, and now we all live our lives in a state of “connectedness”, with high-speed fibre broadband and smartphones completely changing the game.
Ideas, concepts and movements can now spread like wildfire, and the result is a shift of power, away from the old, traditional model of rulers and subjects, and to something faster and more dynamic.
The establishment is being analysed and in lots of cases rejected – you only have to look at Westminster to see the disaffection with the status quo.
And what is true in politics is true in business too.
“Old school” businesses in the finance sector are now navigating choppy waters, and it’ll be those that can adapt that will survive.
Some may choose to continue operating under the “old power” model, and appealing to audiences that do the same, but there’s every chance that doing so is a risk.
What does this mean for your financial services firm and your online website presence?
Well, it means you have a choice.
If you recognise the way the wind is blowing, then you’ll also recognise two things:
1. The way people buy things has changed, with the power shifting away from the establishment
People want instant access to information, and they want it at their leisure.
Up until very recently the only way you could get a mortgage was with a suit and a tie and a lengthy meeting. Now we’re seeing more and more mortgage applications completed via company’s websites, reflecting the change in consumer behaviour.
2. As the market adapts, those that don’t will be left behind
You only have to look at the big high street failures like Woolworths and Blockbuster to see that if you don’t move with the times, the times move without you.
The financial services firms who recognise the shift in power need to be dynamic enough to ride the wave, because if they’re not on it, there’s no other way back into land.
This means recognising what your market wants and tailoring your online presence to provide it.
If you want help to make that happen, Why not get in touch with Finance Stream today on 0161 672 7824.
If you need guidance or support with your financial services design and messaging please contact our branding team or email dave@financestream.co
