401(k) Specialist Issue 1 - 2018 - 39

COACH'S (K)ORNER
pany the connection request. Something
as simple as " I manage your company's
401(k) plan and want to make sure we are
connected " or " We share a common client
and I want to provide you with a way to
contact me with questions or concerns " will
go a long way towards recognizing who you
are, which in turn will maximize acceptance
of your requests.
Now, consider a few scenarios that could
play out with these " No. 2s " when the connection
is made.
First, what if they do eventually move
into the senior position? You'll be notified
of their promotion via LinkedIn likely sooner
than you would have otherwise, and
you'll now be in a position to proactively
reach out to them.
Also, since you're already regularly marHaving
them join your network is a simple
request which most will accept. They have
now given you permission to engage with
them in future marketing efforts.
The importance of having them connect
with your LinkedIn network can't be over
emphasized, and it involves a concept
known as " permission marketing. " The typical
email blast is the most common marketing
activity that's sent to an advisor's target
list. Did the recipient ask to be on the list to
receive your email in their inbox, one that's
filled with all sorts of junk on a regular basis?
Considering the speed with which most hit
the delete button, the answer is obvious.
Think of how that might compare with
asking an individual to join your network
and having them take the time and forethought
to accept. This is an individual
you see as important giving the green light
to contact (and market to) in some form or
fashion. No doubt we want to ensure the
maximum number accept your connection
request, and this can only happen if
it's accompanied by a small amount of
personalization.
By that, we mean one of the easiest (and
most problematic) functions about LinkedIn
is how simple it is to find and target one
of the many weak links. It usually requires
a simple tap of the " connect " button. Off it
goes, a generic request to join your network
sent to someone who may only vaguely
know who you are, if at all.
Resist that temptation, and instead consider
sending a personal note to accomketing
to them, they're familiar with you
and your business, which can only improve
long-term retention of the plan.
What if they never get that final promotion
and leave to a new company, possibly
in a more senior role? Great. Once again
you will be notified of the job change and
you now have a new prospect already
familiar with your work. Chances are if they
are looking to make changes, you will get a
chance at the new plan.
Other weak links will likely bring similar
positive scenarios to your business.
Can adding a few connections make
much of an impact? Maybe/maybe not.
But with a relatively small effort, you can
multiply your connections by the hundreds.
Invariably, people's circumstances change,
which in some cases will bear fruit.
Best of all, no more highlighted, dog
eared cards. Oh, once mighty Rolodex, may
you rest in peace.
Randy Fuss is a practice management consultant
at CUNA Mutual Retirement Solutions.
ISSUE 1 2018 | 401kSpecialist.com
39
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401(k) Specialist Issue 1 - 2018

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