For Ed Slott and Company’s community of elite IRA advisors, communication is key. They needed a way to get content out to their members in a timely and efficient manner. They figured the best way to do this, and to serve their members better, was with an app.
Yet for a small company which is not built for software development, creating a mobile app that does what they want to do can be expensive and complex. Unless you do it with MobiLoud, as they did.
About Ed Slott and Company, LLC
Ed Slott and Company is a New York-based company that provides educational resources related to IRAs for financial advisors. They have around 500 top financial advisors subscribed to their membership program.
The members of Ed Slott and Company’s program are mostly in the ages of 40-50, almost all running hectic schedules.
That was a key challenge when it came to building an app. These members needed fast, convenient access to content, yet they weren’t exactly the generation that gravitates towards technology.
Here’s how Director of Member Relations Matt Smith put it:
“The reason for the app was to make things more convenient for our members. They pay a lot of money for the resources that we provide, and a lot of them don't have the time to get on a computer, or to check their emails often. The app was to make things a little more convenient for the advisors I manage.”
The other issue was that the company didn’t have the in-house expertise to build an app. Though they had the means to hire a development team, this would add a whole layer of unnecessary complexity to their project. A simple, done-for-you solution was what they needed.
MobiLoud solved each of the challenges Ed Slott and Company had, in one go.
The key thing we provided was a super effective communication channel, in push notifications.
Push notifications turned out to be the perfect way for them to get important information and resources out to their members. It lets them send notifications straight to their members’ mobile devices, where it would be seen far quicker than an email, in-app notification or a banner on their website.
“A lot of what we send out is time sensitive, like RSVPs for a program or major law changes in the retirement landscape, and these advisors pay a lot of money to be informed. The app enables us to send those updates to their phone immediately. So even if they don't read it, at least they know there's something that they need to give their attention to.”
On top of that, we managed the entire process with hands-on support. For a company that knew nothing about app development, this was crucial.
“You guys are really easy to work with. You were really helpful and responded to everything and walked us through everything. Even with the recent update we had to do to the disclosure or whatever that was, you guys responded right away and got it taken care of.”
A large percentage of Ed Slott and Company’s members downloaded the app, which was the key metrics of success they were chasing.
“We got around 380 out of 500 advisors onto the app. Keep in mind, a lot of these advisors are on the older end and don't necessarily use technology. So 380 is the perfect number.”
With these users now having the app installed, they get instant notifications for important updates and content. They don’t even need to open the app to get value out of it.
“Whether or not they're actually actively using the app, at least you know they're getting push notifications anytime something's going out. Now instead of just getting an email, they're getting push notifications and can just open up their phone to check if there are any updates.”
Create Mobile Apps with MobiLoud Today
Ed Slott and Company had an app on their to-do list for some time. They eventually made the jump and contacted us to make it happen.
“We were thinking about building an app for about 1-2 years. Then, as we had time to work on a project like this, we decided to pull the trigger and reach out to you guys.”
They went ahead with MobiLoud based on a recommendation from a partner. That advice turned out to be sound, as we helped them do everything they needed to do with their app.
“We really didn't have any doubts. We weren't really worried about costs or anything. We just wanted it to be done right and you guys did a great job on that.”
Over 2000 companies have done the same, trusting us to hold their hand through the app development process, which can be daunting and expensive. We provide them with a level of service that other app builders don’t, in everything from app design to app store submission.
It’s easy to get started. Just get in touch with us and arrange a free, personalized demo with one of our app experts.
You’ll see how straightforward it is, how little investment it takes, and how fast you can build and launch an app that grows your business.