In financial services, the biggest competitor isn’t a company. It’s inertia.

People want to switch their financial advisor. They want to move banks. They know they need to update their estate or purchase life insurance.

They just…don’t.

It’s not because they’re irrational. Not because they don’t care. But because financial decisions feel heavy. They carry risk, complexity, paperwork and long-term consequences. So the default becomes delay.

For financial marketers, this means inertia is often the single largest factor holding them back from more revenue. It therefore deserves targeted time and attention figuring out how to break it. Below are five ideas to help you do exactly that.

Idea #1: Catch People at Life Stages

Marriage. Divorce. New baby. New job. Promotion. Retirement. Moving. Starting – or selling – a business.

Inertia weakens during transition. Life stages create natural cracks in routine. And in those cracks, financial decisions start to take on more urgency.

Catching people at life stages is therefore mission-critical to capturing more revenue. You can:

• Build entire campaigns and content around life milestones
• Identify media, centers of influence and activations that put you face-to-face with people in transition – move-in-day at college, partnerships with estate or corporate attorneys, new parenting groups and more
• Use messaging that speaks to life moments
• Equip front-line personnel with conversation starters tied to life changes

Idea #2: Shrink – and Support – the First Step

Most financial marketing asks for too much, too soon. To assist with this, it can help to think of financial marketing a little bit like dating – if you jump too fast to a marriage proposal, things aren’t looking good for your relationship outlook.

Inertia loves itself some perceived effort. The bigger the first move, the easier it is to postpone. Consider how you can make a call-to-action that feels manageable and not like a marriage proposal.

Inertia loves: “Open an account.”

Instead, say: “Schedule a 2-minute financial checkup.”

Inertia loves: “Fill out this paperwork and send it to me.”

Instead, say: “Let’s hop on a call, and I’ll help you get everything filled out and set up.”

Inertia loves: “Have you notified your financial advisor you’re leaving?”

Instead, say: “Here’s a script I created to help you have the conversation with your advisor.”

Remember: Movement equals momentum!

Idea #3: Name the Cost of Doing Nothing

Financial services loves to talk about upside. But sometimes, inertia isn’t moved by abstract growth promises. It’s moved by the urgency created by the cost of doing nothing.

Remember Daniel Kahneman? The guy who told you that losing $100 hurts about 2x more than gaining $100 feels good? That’s what this lesson is all about.

Talking specifically about the real cost of inertia can have an impact. Here are some examples:

• “Waiting one year could cost you $18,400 in potential growth.”
• “Refinancing to a 20-year mortgage could save you $XXX,XXX in interest over that time period.”
• “Investors who try to manage their own money lose X% per year, on average.”

Sometimes these figures can feel like fear-mongering, but they shouldn’t. If you and your organization are operating with the right mindset, you are trying to maximize outcomes for clients.

In other words, you’re trying to help. You just need to make sure your clients and prospects know it.

Idea #4: Reduce Cognitive Load

Here’s an uncomfortable truth: most financial marketing assumes people are clear-headed analysts. But in reality, they’re busy. They’re distracted. They’re comparing options while answering emails and reheating coffee.

If your website requires interpretation, comparison charts, five product options, and a glossary, you’re already dead in the water.

Look specifically at the purchase pathway for your product or service. Consider things like:

• Reducing choice as much as possible
• Clear “If this sounds like you, do this” messaging
• Pre-built bundles instead of customization
• Offering one strong recommendation instead of three neutral ones

Remember, overwhelming choice means underwhelming results.

Idea #5: Engineer Micro-Deadlines

It’s easy – and safe – to want to have no deadline. Because no deadline means the sale is never really dead. But the problem is that open-ended decisions drift.

Things like “I’ll think about it.”, “Maybe next quarter.”, and “After the holidays.” are probably the most common phrases in the financial services industry.

Without a time cue, action slides indefinitely. But, you also have to balance this to avoid fake urgency. Instead, think in terms of “meaningful timing.”

Some sample meaningful deadlines:

• “Before the end of the tax year.”
• “Before rates adjust.”
• “Annual portfolio review month.”
• “Enrollment closes Friday.”

Bonus Idea: Don’t Forget About Brand

Honestly, the greatest inertia-breaker in the world is brand in financial services. If you think about it, branding is inherently about building trust with your target customer. If trust isn’t there it’s going to be that much harder to get someone to move.

While brand can take a long, intentional time to build, it can act as a force accelerator across everything you do. Prospects will move faster – especially when your existing customers love you so much that they are making warm, highly trusted referrals.

The Bigger Takeaway

The reality of financial services is this: Most people want to take action, they just never get around to doing it. With some sound strategic thinking and a little handholding, you aren’t just maximizing your business – you’re maximizing outcomes for your clients.

Author’s Note: I love the em-dash and hate that every time I use it now, people think it wasn’t me writing this. So: Hi, Phil here, and no, I’m not a robot!