January 07 , 2019  /   Consumer Insights

Your clients may be online more than you think!

If you’re not reaching out to Canadians 55+ online, you’re missing out.

Did you know that in recent years the fastest-growing demographic online are those aged 65 to 74? This demographic jumped by 16% between 2013 and 2016 according to a study by Statistics Canada. A large reason for this jump is because this demographic is comprised of the Baby Boomer generation who want to stay connected. Comparatively, the level of online usage by those aged 75+ is much lower.

Given this trend, companies who sell to Canadians aged 55+ need to focus on creating a presence online.

The Best Place to Start is with Social Media.

81% of Canadians aged 65 to 74 are online daily to a few times a week – most of which is on social media platforms. This means that as a mortgage broker, it’s smart to direct marketing efforts on social media platforms to capture prospects who could use your help and expertise.

More Specifically, Start with Facebook.

It’s no surprise that Facebook is the biggest social media platform. Not to mention that it also owns two other applications that are rising in popularity: Instagram and WhatsApp.

Facebook allows you to target users by age, region, language preference, and interests based on pages they follow, to name a few. This allows you to get as targeted as you want with your advertising – reaching the customers you want.

But the biggest benefit with Facebook is that it’s easy to use whether you’re sharing content or creating ads to promote your business. If you don’t have a Facebook business page, it only takes a few minutes to setup. If you already have one, make sure you’re posting great content regularly and interacting with those who’ve liked your page.

You Can Create An Edge Over Your Competitors

With only 46% of Canadian businesses using social media to promote their company, you have an opportunity to make an impact in an area your competition may not be focusing on yet. Not only are more Canadians online, but more of them are doing their research, reading reviews, and making purchase decisions even before they contact you. The only way many of your future clients may find you is by having a strong presence online.

2 Other Key Areas to Get Started Online

  1. A Simple Website
    If you don’t have a website already, make sure you get one up soon. If you have one, make sure it stands out with great content, imagery and your contact information.
    Bonus Tip: A lot of website builders such as Squarespace, Wix, and WordPress not only make it easy to get started, but they also have add-ons that allow your clients book an appointment right from the site!
  2. Google Search
    The best way to find anything online is through a search engine, and there’s no search engine more popular (or influential) than Google. Make sure that you have a Google My Business account set-up. This will ensure that customers can see your business when they are searching for it, write a review which often leads to more business, and can find their way to your office through Google Maps.

Dive in and start creating a positive presence online. This will help you get more leads, build credibility and help grow your business!

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SOURCES:

Sherpa Marketing https://www.sherpamarketing.ca/canadian-social-media-stats-updated-2018-471

Maclean’s https://www.macleans.ca/society/older-canadians-are-flocking-to-the-web-are-they-liking-what-they-find/

CTV News https://www.ctvnews.ca/sci-tech/internet-usage-growing-fastest-among-older-canadians-statscan-1.3676986

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May 09 , 2024   /   Consumer Insights

Options and Opportunities: Pattie Lovett-Reid's Perspective on Financial Conversations for Couples

As advisors, it's crucial to recognize that navigating finances as a couple can be sensitive. Money discussions often evoke feelings of comparison and envy, leading many to avoid the topic altogether. However, it doesn't have to be this way. It’s important to inform clients that they can’t fall in love with money and expect it to love them back. It won’t. Yet, couples still face challenges often rooted in differing money values inherited from their upbringing. In my household, we are very transparent with our children about our financial situation, the decisions we will be making today and, in the future, what they can count on and where they must fend for themselves. We strike a balance between compassion and empathy. Ultimately, our decision as a couple is to move forward with decisions that matter most to us. As an advisor, you should encourage couples to have these types of money conversations at critical junctures in their life. They may occur when the couple moves in together, decides to have a family, makes career choices, debates spending versus saving, and even discusses where and how they enjoy their retirement. The point is that regular “money meetings” are essential for couples to prepare for any significant expenditures and life decisions they may have. It is not a one-and-done conversation. Life is full of changes, and Plan A can quickly turn to Plan B, and your clients must pivot accordingly. I was intrigued by a couple I met at a recent HomeEquity Bank reception. They told me that despite little money early on in life, they didn’t focus on scarcity. Instead, they focused on abundance and celebrated the little milestones, not wanting to miss out on life and waiting for the significant events. I found this perspective so profound. I decided to probe further to determine how they had reached this point. It all came down to one word: options. This couple reached out for help, asked many questions, and listened objectively. They trusted their advisor and were realistic in their expectations. It was a true partnership that has helped them get to where they are financially today. Money isn't meant to be loved. It is intended to be spent, shared, and used to help the less fortunate. Back to the word “options". That evening, it was reinforced why I joined HomeEquity Bank: people want to have options they can explore to fund the lifestyle they want to enjoy. All they need to do is have the conversation and permit themselves to look at all the options openly and transparently as a couple. That evening, many clients spoke up and shared their financial decisions, challenges, and the options they chose that were right for them. There was no shame, embarrassment, or hesitation—just a frank, fact-finding, open dialogue. Recognizing our progress in destigmatizing money conversations is important but remember that it's ongoing. Encourage clients to keep the dialogue going and remain open to exploring all available options together. Pattie Lovett-ReidChief Financial CommentatorHomeEquity Bank
November 09 , 2023   /   Consumer Insights

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June 15 , 2023   /   Consumer Insights

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