Utilizing Sensory Marketing to Enhance Client-Financial Advisor Relationships
Utilizing Sensory Marketing to Enhance Client-Financial Advisor Relationships
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Date
2023-12
Authors
Woods, Lily Beth
Journal Title
Journal ISSN
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Publisher
University Honors College, Middle Tennessee State University
Abstract
The financial advising industry is rapidly changing because of technological
advancements. As the number of individuals seeking financial advice from remote or
Artificial Intelligence advisors rises, the need for on-ground financial advisors to employ
competitive marketing strategies increases. Sensory Marketing—adapting the five senses
to the business environment—is an effective strategy financial advisors can employ to
solidify client relationships. Data was collected from ninety-one clients at a single
financial institution using a Qualtrics survey. The survey asked about relationship
characteristics, sensory preferences, and demographic information. The results were
analyzed using SPSS data analysis software. Recommendations are provided for financial
advisors and marketing researchers based on the data collected from this survey.