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Factors That Affect Financial Decision Making!

Posted: 20 April 2018

We know customers make decisions based on their immediate needs as well as their goals and aspirations for the future. However, there are many other factors to take into consideration when you think a sale is almost complete.

Nature Versus Nurture
When we meet a savvy and sophisticated customer, we automatically assume they will be on board with the best financial advice available to them. However, even savvy consumers will decline to work with a particular company or institution for cultural or religious reasons. Hispanics and other cultures encourage their adult children to remain with their parents for as long as possible. If you were hoping to sell a mortgage or home insurance product to that individual, it would be beneficial to know as much about them as possible to understand their heritage and how it affects their decision making.

It’s a Family Affair
Be prepared to speak to multiple people within a family before a financial decision can be made. Encouraging the participation as a family ensures that all decisioners are on board and equipped with the right information directly from you so there are no misunderstandings about your advice. Access to your client’s social circle gives you insights into what they will need in the future. For example, a client whose brothers are all home owners will most likely be in the market for their first house in the near future so you can be prepared for that.
Experience Trumps Education
Even the most educated customer takes their first wobbly, uncertain steps in the financial markets. Be sure they know that you are available at all times to guide them through the uncertainty and work towards their goals as a team.
VideoSign Can Help!
VideoSign allows you to meet with up to four participants in a meeting allowing them access via desktop, smartphone or tablet! Better than a telephone call, VideoSign helps you stay engaged with customers by offering a more convenient in-person interaction that helps you gain more insights and non-verbal cues from each customer.
Still not sure how VideoSign can help you maximize each client relationship? Contact us at and let us show you how we can help!

VideoSign. Close more business. Anytime. Anywhere.

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