401(k) prospecting blends sales and marketing into a dynamic duo, each complementing the other like yin and yang for unmatched effectiveness.
In this post, we are going to explore additional ways to market your retirement plan practice in order to connect with more plan sponsors and, ultimately, grow your business.
Before we dive in, let’s back up. Our previous post discussed the curious plan sponsor—the concept being that when plan sponsors have a question they most likely turn to Google. When the prospect finds the answer on your website through your posted content, they begin a digital relationship with your firm. So, how do you turn a curious prospect into a new client?
The Turn
Your prospects are on your site, finding answers, reading your biographies, viewing your awards, one eyebrow raised, leaning in and asking themselves, “Who are you? What value do you bring? Are you a better solution to my current situation? Should I contact you? Tell me more.”
Now, it’s time to engage.
Three Ways to Turn Curious Plan Sponsors into Clients
- Web seminars – We recommend hosting quarterly webinars. Select a plan sponsor facing topic (Tip: connect with your Service Provider and DCIO relationships for available presentations). Then post on your homepage about the upcoming event. Allow for simple sign-up. When plan sponsors are viewing your site, you are benefiting in three ways: One, you have a non-threatening call to action; Two, you are providing education to the curious plan sponsor, and; Three, you get detailed information on the curious plan sponsor. Bonus, the plan sponsor learns more about you and experiences a taste of why they should hire you.
- Gated Content – Don’t give it all away for free. The retirement plan industry is complex and many professionals have questions. Let’s say you write a blog post about the new Conflict of Interest Rule and create a checklist of questions that plan sponsors should ask their advisor. At the end of your blog post, you could say: Checklist of critical plan sponsor questions, download here. That might directs to a short auto-fill form to download the questionnaire. You now have captured the name and contact information of the curious plan sponsor. Next steps, reach out to them and continue to build your relationship as a trusted voice for retirement plan knowledge.
- Retargeting – This is a little complex. Retargeting is when a person visits your site and their browser is cookied. Every time they go to another website that has banner ad placement, your marketing ads appear. Think of it like this, the next time you go to a website where there are banner ads, look around the parameter – are some of those advertisements company websites that you have recently visited? That is retargeting. A successful retargeting campaign will keep your brand front and center with all of the curious plan sponsors. Thus, when they have a question – your firm is the top of mind solution.
Marketing takes time and not done all at once. It takes dedication and focus to work and to work well. When you begin, it probably won’t work. That’s not because it isn’t good –it’s because you don’t have enough. Keep in mind, the internet is a big place. However, through consistency of quality content, you will separate yourself from the competition and become known as the ‘go-to’ retirement plan office.
About 401(k) Marketing
We believe the retirement plan industry can do better. Our clients are the best professional retirement plan advisors in the business. They care deeply about saving America’s retirement future. We are proud to share their voice through industry writings, professionally-designed brochures, and marketing collateral. We assist in promoting their businesses through on-going awareness campaigns. 401(k) Marketing is based in San Diego, CA. Check us out at www.401k-marketing.com. In this post, we are going to explore additional ways to market your retirement plan practice in order to connect with more plan sponsors and, ultimately, grow your business.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
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