Sales & Marketing

Sales & Marketing

Sales and Marketing covers the various ways that advisors find new business, including prospecting, marketing, branding, cross selling, strategic partnerships and social media. Experts in these areas illustrate best practices in these topics with real life examples and provide helpful commentary and resources.

Key Steps to Effective Social Media Involvement

Getting started in the social media space is not especially difficult, but it does require time and a clearly outlined strategy. If you just build it, they won’t come. If you want to create positive buzz about your firm, drive search engine optimization and makes sales happen, you must participate. Much like marketing, social media is a practice of small, meaningful connections over time. Redzone Marketing outlines some key considerations and tactical steps you can take to get involved in a meaningful and manageable way.   Read More

5 Steps to a New Marketing Strategy

A new year is fast approaching, which for many advisors means it’s time to give some thought to their marketing plans. Creating — or reviewing — a marketing strategy provides an excellent opportunity for you to define and launch initiatives to capture a greater share of the retirement plan business in your marketplace. An article from the folks at 401k Coach lays out five steps that will help you develop a strategy.   Read More

Plan Sponsor Prospecting: Outsourced Versus In-house Models

As advisors scramble to close new business by the end of the year, it only serves as a reminder that the 2013 selling season is right around the corner. If your practice isn’t on track to accomplish its new business development goals for 2012, then you’re going to need to make some adjustments for 2013. When it comes to acquiring new clients, the 401(k) business is rather straightforward — essentially boiling down to two necessities: a compelling value proposition and enough new prospects to whom you can present that proposition. For most practices, the big challenge is the latter.   Read More

Begin at the Beginning

To some advisors, I imagine, social media seems complicated and overwhelming. So they opt to simply stand on the sidelines and let others go first. Sadly, these advisors miss out on important conversations, critical connections and an inexpensive way to build their market. No more excuses! Set an intention to get involved and dedicate time each day to integrate social media into your face-to-face networking and sales efforts.   Read More

What My Nana Taught Me About Social Media

My Nana was a stickler for doing things right. And with Nana there was always a right way and a wrong way. (Nana = right, everyone else = wrong.) To Nana, spelling, punctuation and grammar mattered. Saying ‘thank you’ was an important part of any relationship. Here are five tips for channeling your inner Nana (or mine) in your social media communications.   Read More

Avoiding TPA Partnership Pitfalls

In an article they wrote for the Journal of Pension Benefits, Sarah Simoneaux and Chris Stroud from Simoneaux and Stroud Consulting Services offer some valuable insights on how TPAs can benefit from strategic partnerships. In fact, the lessons are transferable to any business segment.   Read More

Getting People to Watch Your Videos

Are you using video to connect with prospects, clients, referrals and potential alliances? Video is an incredibly powerful marketing tool. But in order for it to work, you have to get people to watch. Maribeth Kuzmeski, president of Red Zone Marketing, offers eight quick tips for engaging people so they will want to watch your video and connect with you.   Read More

Social Media and High Net Worth Investors

It’s evident that financial and retirement plan advisors are wary of the social media platform. Some of the leading reasons include the compliance issues involved, the time it takes to manage social media, and simply getting started. However, research by LinkedIn and Cogent Research points to some compelling reasons for participating in this fast-moving communication channel.   Read More

Getting Small Business Owners to Focus on Their Own Retirement Needs

According to a report from The American College, 40% of small business owners have no retirement savings or pension plan in place — even though many are over 50. Equally surprising, many of these business owners don’t engage advisors to help them. Many business owners focus so much on expanding and maintaining their businesses that their own retirement planning winds up on the back burner. But most are concerned about their retirement.   Read More

RAC Releases an Advisor RFP for Plan Sponsors — Providing a Great Prospecting Tool

RFPs are used by fairly few plan sponsors searching for a new advisor, perhaps partly because there was no industry sponsored RFP template for plan sponsors to use — until now. The Retirement Advisor Council (RAC), led by industry market research professional Eric Henon and a group of industry experts including advisors, providers and broker dealers, has made an RFP template and protocol available. Why would an advisor want plan sponsor clients or prospects to go through an RFP process? Because the more educated the client or prospect is, the better an experienced advisor will appear. For example, RAC’s RFP template lists a fairly comprehensive litany of advisory services which less experienced advisors will be hard pressed to match. This makes the template a wonderful prospecting tool.   Read More

Using Google Alerts

Social media maven (and NAPA Net Conductor) Sheri Fitts explains how advisors can use Google Alerts to proactively keep them informed on relevant topics or news about clients and prospects. Google Alerts are easy to use and set up, but the really good news is that there are no compliance issues. Look for more helpful posts from Sheri and visit her NAPA Net forum, Social Media Strategies – she’s a fount of helpful, insightful information.   Read More