401(k) Specialist Issue 3 - 2022 - 37

401(k) CLIENT CONNECTION
#5
What If It
Doesn't
Work?
It will, but business
growth doesn't happen
in a straight line. It takes
time to nurture leads,
develop trust with
centers of influence and
establish client relationships.
The easiest way to identify success is revenue.
If, year over year, revenue is increasing,
then your efforts are working.
What's harder to pinpoint is the value of
your reputation, trustworthiness among
your community and how you are piquing
audience interest. To dig into these metrics,
you will need to understand the strengths
and weaknesses within your pipeline.
Top of the Funnel
This stage of the funnel is about creating
trust and generating buzz. Examples of
campaigns that increase early-stage prospects
include:
* Connecting with ideal prospects on
LinkedIn.
* Sharing content on social media, such
as blog articles.
* Adding contacts to email campaigns.
* Enhancing search engine optimization
and creating landing pages.
In this stage, it's often frustrating because
it's challenging to identify success metrics. Yes,
you can look at email delivery rates, website
views, and LinkedIn views, but will those convert
into clients? It's too early to tell. That's why
this sales funnel section might feel like nothing
is working, but it is. You just can't see it yet.
Middle of the Funnel
This is where prospects interact with
you and your brand. An example might be
a prospect visiting your website and either
" noping " right out of there or taking the
next step of contacting you.
" When you have
a healthy mix
of curated and
homegrown content,
you have a pipeline
of consistent valueadd
materials to
share with your
audience. "
Other examples include prospective
clients visiting your social media profile,
taking action from retargeting campaigns,
replying to a LinkedIn message, filling out a
form to access gated content and engaging
with emails.
Some of these actions you'll never know
happened, while others will help you recognize
your marketing efforts are working.
Bottom of the Funnel
This is the stage when advisors feel that
their marketing is producing results. That's
because this is where you are meeting with
prospects and beginning conversations to
convert them to clients.
This stage is often the most fun because
it's where your hard work at the top and
middle of the funnel pays off. However,
keep in mind all the prep work it took to
get here. So, if you fear your marketing isn't
working, don't worry. Once you reach the
stage where you get to show and tell how
exactly you provide superior service, all
your diligent work will pay off.
Business Development Confidence
Currently, 47% of plan sponsors are
considering a new retirement plan advisor,
according to Fidelity Investments' latest
Plan Sponsor Attitudes Survey. It has never
been a better time to pique plan sponsor
interest through business development
campaigns. Specifically, sponsors appear to
be seeking new advisors who are highlighting
new or better services, so use marketing
to your advantage.
When you have a healthy mix of curated
and homegrown content, you have a
pipeline of consistent value-add materials
to share with your audience. This keeps
you top of mind with clients, centers of
influence and prospects.
Strategically block off time on your
calendar for business development campaigns.
Technology makes your outreach
scalable, so use it to amplify your voice.
To get immediate wins, get your team and
friends involved. Once you post your blog,
infographic, video, or guide, ask your team
to like, comment and share it. This will help
circulate your efforts faster and maybe even
get you on that magazine cover sooner.
Marketing works, but it takes time. Evaluate
your pipeline process and see if you
can identify areas of opportunity. The more
prospects that enter the pipeline, the faster
you'll be presenting at finalist meetings,
and the quicker you'll be on your way to
earning new business.
Thanks for reading-and Happy
Marketing!
Rebecca Hourihan is Chief Marketing Office with San
Diego-based 401(k) Marketing, a modern marketing
agency for the retirement plan industry. The company
supports clients through custom engagements,
content marketing campaigns, sales material innovations,
thought-leadership consulting, interactive
workshops and speaking events. Its mission is to empower
the retirement plan industry with high-quality
marketing, ultimately inspiring Americans to become
financially prepared for their future.
ISSUE 3 2022 | 401kSpecialist.com
37
http://www.401kSpecialist.com
401(k) Specialist Issue 3 - 2022

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