Investing in your business is the best way to increase the chances of success. All companies, agencies, and advisors must do it, and we are no different. That’s why LegacyShield continues to evolve.

We recently launched an entirely new, advisor-rich software called Link to help agents connect with their clients, reduce transactional friction, and increase agent profitability. Link by LegacyShield provides advisors with turnkey tools, insights, and solutions to improve their practice and better assist their clients.

Heather, our VP of Product, took some time to update us on the additional features she and her team have been working on. Before working at LegacyShield, Heather worked in the legal and insurance fields. Since joining LegacyShield, she has been an integral part of creating the product by managing what goes onto the site.

Q: What product updates are you most excited about?

A: There are a lot of great things the team is working on, but I am most excited to talk about our prospecting and direct messaging features. I think both of these will have a considerable impact on the way advisors run their practice and how clients interact with their advisors.

Q: Can you explain how prospecting works on Link?

A: The way prospecting works in Link is that any time a client adds another person to their account to share documents or other information, they have to join Link and create an account. Once they register, they become a prospect for the advisor. Before Link, the advisor could only see that their client shared the document or information with a specific person. Now, with Link, advisors can communicate with prospects through the system, send documents to prospects, and convert prospects to clients. Additionally, advisors can gain unprecedented insights into the prospects before the initial outreach.

Q: So, does anyone who views assets on Link automatically become a prospect? What if they’re not interested?

A: No. LegacyShield is committed to developing products that are secure and mindful of everyone involved. A key determinant is that the new person has to register and agree to LegacyShield’s privacy policy and terms of use. Additionally, the advisor has limited functionality to reach out to those prospects. For example, they can send them documents to view. If a consumer wants to collaborate more with the advisor, the advisor can convert them to a client and give them full functionality.

Q: What other ways does Link help with prospecting?

A: Prospects are introduced to the advisor virtually. They can see the advisors’ profile, contact information, and bio, making it like a billboard or banner ad [in the app] for the advisor before talking to the client. We see it as a great way to introduce yourself to prospects and see if they’re a good fit for business without being too assertive.

Q: Does prospecting benefit the client also?

A: Absolutely. Just as advisors are looking for new clients, clients need to make sure their advisor is right for them. People don’t always know the benefits of using an advisor, let alone where to find one. Seeing trusted friends and family utilizing a particular advisor is going to open the door and give prospects direction if they’re looking for a similar resource. Especially for younger generations, like Millennials, this will be a huge help. Our recent blog post, “Insurance ROI: Are You Doing the Right Math?” mentions that referral prospecting yields a closing ratio of 40% compared to cold-call prospects at 11%. Link has already generated over 45,000 referrals before our product updates, and we believe referrals will spike with this updated feature. Using Link to find quality referrals and increase customer retention allows for a better experience for clients and better returns for the advisor.

Q: What about compliance oversight?

A: Link integrated with Outstand for email marketing and marketing automation. One of the most significant challenges independent agents face is access to easy-to-use marketing tools and the professional content they need to grow their referrals and sales. Outstand overcomes this by giving agents a web-based system to provide a full scope of intuitive marketing tools and pre-approved assets that enable them to connect with their teams, clients, and followers.

Q: What kinds of tools come with this integration?

A: The marketing tools include contact and list management, email marketing, automated campaigns, asset aggregation, social media posting, content scheduling, website and landing page hosting, response tracking, and performance analytics. All of these things make it easy to market and connect with any client or prospect and at the same price point as MailChimp or Constant Contact.

Q: Tell me about the direct messaging feature on Link.

A: This feature can help with prospecting but also enhances communication with current clients. Similar to other social platforms, you can message your client or advisor and receive an instant response. We have also included a group chat feature and have compliance oversight built in for enterprises. We think this is an essential feature on the platform because right now, it’s via text, phone, and email, which makes it hard to keep track of everything. This feature allows you to securely talk to a client or advisor without worrying about managing everything.

Q: Texting and email is like a lifeline in this day and age. Why wouldn’t you just use that?

A: Texting is still useful at times, but it isn’t easy to file and attach the information from a text message to a client record. Also, larger organizations have to be mindful of compliance oversight, which makes texting less doable. Link combines the best of both worlds by allowing advisors to keep track of all of the information and stay within compliance oversight regulations while using a secure platform.

Q: How do you think the direct messaging tool can best be utilized?

A: The direct messaging feature allows advisors and clients alike to organize all of their conversations and documents. When you send an attachment, you can follow up directly on that attachment, making collaboration that much easier. Direct messaging will make it much easier to receive quick answers on underwriting questions, file updates, or appointments. You can arrange your messages by policy, a new app, or an existing product. Direct messaging is just another way to keep all of your priorities in one place and makes it easy to follow.

As we continue to invest in our business, we look forward to learning and adapting to fit the ever-changing needs of advisors and the insurance industry. Our prospecting and direct messaging features are just the beginning. Link by LegacyShield is committed to developing a platform that revolutionizes the way advisors interact with their clients by providing a secure space and including tools that provide advanced insights to its users.

To learn more about Link or to schedule a demo, contact our sales agents here. If you’re looking for more information about how Link can benefit you, check out our blog, “Let’s Link – Collaborate With Clients in a Secure Virtual Workspace.

Heather McKee

Written by Heather McKee

Heather is currently the VP, Product for LegacyShield. She draws upon her extensive history of running life operations at a nationally recognized life insurance general agency to incorporate next-gen features and benefits.