Remember Blockbuster video?
I do. They were a big part of my life back in college.
But my kids have never heard of them.
You know who they have heard of? Netflix.
In the early 2000s, Blockbuster had a chance to purchase Netflix for $50Million. They didn’t.
Netflix now has a market cap of $116Billion. Blockbuster is long gone.
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But they really changed the game with their digital platform. And the video store is no more.
Talk about a pattern interrupt.
Yes, every industry goes through changes, and those who stay ahead of the curve have tremendous opportunities. BUT there is a limited window of opportunity to capitalize on this in financial services.
While the majority of the market is still with individual advisors, many companies are grabbing marketshare quickly because they know how to use digital channels for client attraction.
Further, new business models are emerging, as well, such as:
- Financial Consulting
- Financial Coaching
- Fee Only
- Monthly Subscriptions
There’s no way to predict the future, but one thing is certain: The future is here AND there will be changes ahead…
If you are ready to get ahead of the curve by learning and implementing a powerful digital marketing strategy to source a steady stream of appointments and clients, click below for some free training: