401(k) Specialist Issue 1 - 2018 - 38

COACH'S (K)ORNER
401(k) Connections Through
How To Multiply Your
'WEAK
LINKS'
By Randy Fuss
THE ANSWER WAS a loud thud. I'd asked
an advisor about his marketing efforts and
the reply was an enormous Rolodex that
landed on the desk. It was impressive.
Some of the cards were highlighted different
colors to denote their importance. Other
cards were folded in the corner signifying
influence of the highest magnitude.
The cards represented multiple marketing
touches throughout the year, including
regular emails on recent topics in the
401(k) industry. Much of the Rolodex didn't
receive anything, not even a holiday card.
Thankfully, this wasn't a recent event
but, as a Registered Corporate Coach in
charge of our Retirement Advisor Institute,
one of my ongoing discussions with advisors
is about maximizing their plan " wins "
and retention through improved marketing
strategies.
No doubt, the once powerful Rolodex
being replaced by sophisticated contact
management systems, and social media
38
ISSUE 1 2018 | 401kSpecialist.com
platforms have drastically improved communication
and marketing efforts.
However, despite these new mediums,
most advisors still focus marketing to their
A and B contacts, while largely ignoring the
C and D contacts, which I refer to as the
" weak links. "
And yet, these weak links can sometimes
be the difference between winning and losing
a new plan, or between keeping an existing
plan instead of an increased risk of its leaving.
In my conversations with plan advisors,
most agree that LinkedIn is a great medium
for ongoing marketing but, on average,
they only have two or three individuals per
company with which they've connected.
While it's an appropriate number for
a prospect, is it adequate for a company
whose plan you manage?
This is where the power of weak links
can shine.
Obviously, the CEO and/or owner (and
a few others) are the A and B contacts that
are already connections, but what about
the committees that decided to hire you?
Is every single one a connection? How
about the people in HR that are tasked with
the day to day operation of the plan and
payroll? Are there individuals providing
professional services to the company? How
about vendors, suppliers and business to
business relationships they have?
And last but certainly not least, who are
all the " No. 2s? " These are all the employees
who stand to succeed the CEO, CFO,
head of HR, etc.-are they all connections?
Most advisors define these groups as C
or D contacts, if at all. You add up all these
weak links and one employer could easily
lead to 10, 15 or even 20 connections from
one company whose plan you manage.

http://www.401kSpecialist.com

401(k) Specialist Issue 1 - 2018

Table of Contents for the Digital Edition of 401(k) Specialist Issue 1 - 2018

Table of Contents
401(k) Specialist Issue 1 - 2018 - Cover1
401(k) Specialist Issue 1 - 2018 - Table of Contents
401(k) Specialist Issue 1 - 2018 - 1
401(k) Specialist Issue 1 - 2018 - 2
401(k) Specialist Issue 1 - 2018 - 3
401(k) Specialist Issue 1 - 2018 - 4
401(k) Specialist Issue 1 - 2018 - 5
401(k) Specialist Issue 1 - 2018 - 6
401(k) Specialist Issue 1 - 2018 - 7
401(k) Specialist Issue 1 - 2018 - 8
401(k) Specialist Issue 1 - 2018 - 9
401(k) Specialist Issue 1 - 2018 - 10
401(k) Specialist Issue 1 - 2018 - 11
401(k) Specialist Issue 1 - 2018 - 12
401(k) Specialist Issue 1 - 2018 - 13
401(k) Specialist Issue 1 - 2018 - 14
401(k) Specialist Issue 1 - 2018 - 15
401(k) Specialist Issue 1 - 2018 - 16
401(k) Specialist Issue 1 - 2018 - 17
401(k) Specialist Issue 1 - 2018 - 18
401(k) Specialist Issue 1 - 2018 - 19
401(k) Specialist Issue 1 - 2018 - 20
401(k) Specialist Issue 1 - 2018 - 21
401(k) Specialist Issue 1 - 2018 - 22
401(k) Specialist Issue 1 - 2018 - 23
401(k) Specialist Issue 1 - 2018 - 24
401(k) Specialist Issue 1 - 2018 - 25
401(k) Specialist Issue 1 - 2018 - 26
401(k) Specialist Issue 1 - 2018 - 27
401(k) Specialist Issue 1 - 2018 - 28
401(k) Specialist Issue 1 - 2018 - 29
401(k) Specialist Issue 1 - 2018 - 30
401(k) Specialist Issue 1 - 2018 - 31
401(k) Specialist Issue 1 - 2018 - 32
401(k) Specialist Issue 1 - 2018 - 33
401(k) Specialist Issue 1 - 2018 - 34
401(k) Specialist Issue 1 - 2018 - 35
401(k) Specialist Issue 1 - 2018 - 36
401(k) Specialist Issue 1 - 2018 - 37
401(k) Specialist Issue 1 - 2018 - 38
401(k) Specialist Issue 1 - 2018 - 39
401(k) Specialist Issue 1 - 2018 - 40
401(k) Specialist Issue 1 - 2018 - 41
401(k) Specialist Issue 1 - 2018 - 42
401(k) Specialist Issue 1 - 2018 - 43
401(k) Specialist Issue 1 - 2018 - 44
401(k) Specialist Issue 1 - 2018 - Cover3
401(k) Specialist Issue 1 - 2018 - Cover4
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