Utilizing Sensory Marketing to Enhance Client-Financial Advisor Relationships

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.