With today’s constant stream of information, doesn’t it feel more challenging than ever to gain shelf space within the minds of 401(k) prospects?
In this post, we are going to share ideas on how you can create awareness that evolves into inbound leads. You’ll learn to leverage two of the most time-efficient and affordable ways to deliver your message to plan sponsors and retirement plan decisionmakers.
Even if you rely on client referrals and center of influence introductions, the following methods should still be utilized to build trust and awareness. Remember, the retirement plan sales cycle is long, and it is important to stay relevant with a consistent message.
Consistent Social Media Awareness
Did you know that LinkedIn has approximately 500 million users, of which approximately 100 million are either senior-level influencers or decisionmakers, i.e., potential plan sponsors, administrators, and retirement committee members? Yet even within this seemingly lush prospect audience, only 3 million users share content weekly. Doesn’t this sound like a perfect opportunity to promote your message?
Imagine that every time the CEO of a $10m plan flipped through LinkedIn, he or she saw your company name and a post specific to corporate retirement plans. Don’t you think they would start to connect the social dots that you’re an expert 401(k) advisor?
Plus, when these decisionmakers are scrolling through LinkedIn, they are actively looking for content. You could become their valuable, trusted resource. The simple act of posting specific 401(k)-related topics and articles will build your digital reputation as a retirement plan professional and could lead to an inbound conversation. And, shockingly, those weekly posts create around 9 billion impressions. Now, doesn’t it make sense to post on LinkedIn each week?
Pro Tip: Stand out even more by publishing content. Only 0.2% of LinkedIn users have published an article. So, if you’re thinking about starting a blog, it’s probably a great time.
Takeaway: Get social today! By developing a strategy and actively posting on social media, you can digitally get in front of thousands of decision makers.
Effective Email Marketing
Email marketing is one of the most effective and affordable ways to reach prospects and share how your retirement plan advisor services can support them.
On average, we receive 88 daily emails, and most people check their email accounts around 74 times per day. While that may sound like a lot, it’s not because we are accustomed to it. Which means that if your firm sends one email per week to your contact list, that one email is not going to overwhelm them, and it is most likely going to be read. It is going to keep your firm top of mind. It’s going to put your name right in front of that prospect (week after week, over and over and over again).
To get started, your office will need to subscribe to an email marketing service such as a Constant Contact and/or Mailchimp. Both are very cost effective ($0 - $20+/month) and will help you comply with e-mail spam rules and streamline your marketing efforts. If you are part of a broker/dealer, ask your home office for your list of approved email marketing providers.
Then start sending weekly emails. Maybe your email includes a link to that recent blog article you wrote on LinkedIn or a newsletter or other piece of content you believe the plan sponsor will appreciate.
Pro Tip: Email marketing services can help you automate and funnel prospects through your pipeline. You can see who opens, clicks, and engages with your content.
Takeaway: Send regular email communications and stay at the top of the inbox.
Content is Key
To best achieve consistent communication, it’s important to have a content bank. This is a series of pre-approved marketing material that your office can easily and regularly share with your contact list. This could be material that you created in-house, subscribed to, from your home office, or other sources. Not all content needs to be original; instead, it needs to be relevant. It should grab the attention of the prospect, so that they will click, open and read it to learn more about your retirement plan advisory services.
Even though we are living in an era of information overload, every day we are introduced to new ideas, companies and concepts. We notice them because they are relevant right now. By having a consistent marketing campaign, you will generate awareness. Your prospects will start to think of you as a retirement plan advisor. Then when they need retirement plan help, they will proactively contact you.
Thanks for reading and Happy Marketing!
Rebecca Hourihan, AIF, PPC, is the founder and CMO of 401(k) Marketing.