Proven Ways for Financial Services Firms to Drive Software Adoption

At Yext, we’re lucky to work with experts who love helping firms build strong, scalable digital marketing programs.

Katie Meyers, our Senior Services Operations Director, leads our implementation process.

Her team partners with firm stakeholders to make sure Yext integrates easily into daily workflows and delivers on key goals.

Here’s what she shared about driving adoption.

‍What are some of the most common adoption challenges firms face?

‍“‍Implementing new software into any organization requires change management,” Katie explains. “When there’s no formal process, the end-user experience is often overlooked, resulting in low or slow adoption.”‍

So, what does a solid software implementation plan include?

"At a minimum, think through the broad strategy behind your rollout process," Katie outlines.

"Identify an executive sponsor or sponsors – determine who’s available to help. Adoption happens more organically when there’s a strong internal champion in place. Firms that fail to take this step often struggle with driving adoption.”

Next, firms must consider how to track success at a high level. Defining what success looks like makes it possible to measure progress towards your goal.

Katie adds, “Some firms have pre-selected corporate goals to work towards, while others need help pinpointing the right key performance indicators (KPIs) to focus on. In either case, Yext can help you track progress over time. We can also provide access to tiered training and feature audits to make sure you’re maximizing your investment.”

How can firm leaders help successfully promote adoption and usage?

Some firms make software use mandatory, which significantly boosts adoption. But if a mandatory charter isn’t right for you, using gamification and incentives to inspire friendly competition can be great adoption motivators.

“Nailing your internal messaging is key to generating a buzz around tools. Firms should be able to clearly communicate what agents and advisors have to gain,” Katie says, “It’s especially important to understand and focus on things that each role cares about to make sure you’re offering compelling benefits — things that make their lives easier and make them look good.

For example, compliance teams may get excited about being able to rely on automated workflows to streamline supervision requests, while agents and advisors love having the option to delegate tasks.”

How should program leaders troubleshoot adoption challenges?

“Before taking any other action, program managers should connect with their Yext support team and communicate any concerns,” Katie encourages. “We’ve seen it all and can help you work through any challenge."

She adds, "We also have lots of resources we can offer — from admin messaging templates to proven outreach strategies. We can connect you with in-house subject matter experts who can provide one-on-one training or set you up with a Value Consultant who can help you evolve and enhance your content, marketing, and compliance strategies over time.”

How can firms continue to promote adoption as their programs mature?

‍‍Katie suggests firms take a microscope to their program regularly. She illustrates, “As an example, we lead business reviews, which are roadmapping sessions that help program administrators stay focused on growth and strategic goals. We also share any new features we’ve launched and explain how they can add value. This helps program managers generate continuous excitement because they can come to the table with new tools that save time, introduce new outreach opportunities, and streamline processes.”

What are some creative ways you’ve seen firms drive more adoption?

“Keep a close eye on your competition,” says Katie. “For end users, this could mean watching how successful agents or advisors at other firms build a social presence and mimic their behaviors. Program leaders should also consistently evaluate internal teams. See who the champions are and publicly recognize and celebrate their efforts.

"We also encourage and facilitate connections between customers," Katie explains. "Yext hosts invitation-only events a couple of times a year that present unparalleled networking opportunities — both with our in-house experts and with these folks. Learning what’s working or what hasn’t worked can help you optimize faster."

To recap, the formula for building a high-performing program is: 

• Commit adequate resources to aid in software implementation and launch
• Have a strong executive sponsor or sponsors who lead by example
• Thoroughly leverage your partnership with Yext
• Tailor benefit positioning to specific roles by focusing on the things that matter
• Continually build excitement by sharing new ways to increase program value
• Celebrate achievements, learn from competitors, and encourage friendly competition

‍What’s the most important thing for leaders to remember about driving strong adoption?

“Focusing on adoption starts the moment you sign the contract,” says Katie. “The most successful firms are those that drive adoption from day one and treat their support team as a trusted partner and collaborator.”

Thank you for sharing your wisdom and insight! If you liked this post, check out How Firms Can Measure Social Program Efficacy And Build Strong Sellers. In the post, Amanda Peitz, our Director of Digital Transformation, shares how financial services firms are using Yext’s User Maturity Model to boost social selling performance, measure social ROI, and elevate field success.