Behavioral Marketing

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The Missing Piece of Client Engagement

No one said it would be easy.? Our inboxes and phones are overloaded with emails, texts and voicemails. Our to do lists have grown exponentially.

So how do you create a compelling message to capture advisors attention in less than 30 seconds?

Todays advisor wants you to:

  • Know their business: what their challenges are and how to solve them
  • Communicate on their terms: understand them at a deeper level to engage them

But heres your challenge.? You can know their business but if you dont communicate your message in the advisors style, your message is lost. Translation: NO SALE.

Lets look at an example.

Paul Roth is a top advisor and you have the perfect annuity for him to add to his clients portfolio.? His communication style is Lifestyle which means he likes the big picture, enjoys being around people, talkative and always upbeat.

Your marketing department just emailed him The Top 10 Best Annuities (of course, your annuity is #1). Paul opens the email and all he sees are your logo and lots of words.? He immediately deletes it. Why? He prefers bullet points and pictures.? All of your cleverly crafted words and details of your #1 ranked annuity did not even register with him!

Your internal sales desk is part of this campaign so shortly after the email is delivered, they begin making the calls to get advisors educated and excited about this product.? Paul is in Rons territory, so he jumps on the phone to Paul.? He takes the call because he knows Ron and your firm.? Rons communication style is Information so she starts the conversation by giving Paul all the pertinent facts and is proud of it because he knows the advisors business!

What he doesnt know is that Paul stopped listening within a minute.? Why?? Because Paul wants someone to set the big picture context first and then talk about how other advisors are using it. ?Details of the product offering are secondary to Paul so hewilleither ask the questions later or look it up online.? But Paul is polite, thanks Ron for calling and ends the call. Ron feels positive about the call and he continues on with the rest of his calls with the same script.

Now lets move to the other integral part of this campaign: the external wholesaler.? Luckily, Jennifers communication style is Lifestyle so she presents the annuity to Paul in exactly the way that appeals to Paul. He now understands the annuity, how it differs from the competitors and how to position it in the clients portfolio. SALE IS MADE!

But what if Jennifer wasnt the same communication style?? The three-pronged marketing campaign to promote your #1 ranked annuity would fail on more than half of the advisors. Not because you dont have a good product but simply because you havent customized your message.

Still thinking the soft side of big data doesnt produce revenue?

Maybe now is the time to take a look at a behavioral marketing system that can make a big difference in the effectiveness of your marketing campaigns.

 

Do You Really Know What Lies Beneath the Surface of Your Clients?

7 to 17 seconds. According to many research studies that is how long it takes to form a first impression.

This first impression is based 55 percent on appearance, 7 percent on the words we use during course of our conversation and 38 percent on the tone of the voice.

So even before you get sufficient time to demonstrate your abilities, prospects and clients have formed their first impression and created labels (serious, fun, blunt, friendly, etc.) about your personality.

customer behavior discovery, who are your customers, understanding customer personalitiesThe same is true for you as you meet prospects and clients.

Why is it so important for you to prove (or disprove) these first impressions to understand who your customer really is deep beneath the surface?

Because it has major implications for three areas of your business:
1.?? ?Attracting new clients
2.?? ?Designing portfolios
3.?? ?Ongoing service

Attracting new clients is all about the ability for you to quickly build trust. This involves understanding not only your clients personality, but your own personality strengths and struggles.? Are you a natural listener?? Are you empathetic or more focused on outcomes?? If your style is matched with the prospects, you will build trust with less effort.

When designing a portfolio, many advisors neglect to plan for the financial personality risks. Some clients will envision themselves as bigger risk takers than what they project themselves to be with you.? Or, they may say they are a saver when their expense account proves the contrary.? Discussions on these subjects are very delicate because many clients do not want to admit (or even know) who they really are a deeper level.

Finally, how can you customize your client experience when you may not even know who your customer really is beneath the surface?? You have a lot of different personalities working with you in your office and each one may have to adjust their style to make the client feel truly cared for and understood.? Every marketing action should be tailored to the personality of your clients.? No need to send a long newsletter filled with market data and facts to your big picture clients.? Are you looking for more referrals?? Certain types of clients are much more likely to give them to you if you know their personality.

Is there a way you can know a customer within the first meeting, or even better beforehand?? Or, do you need to wait a year to observe whether their actions and words match to find out who they really are?

Dare to get beneath the surface with your clients. Discover practical and actionable behavioral solutions that you can use with your clients to uncover who they are to create unique customized experiences.

Learn more by visiting http://www.financialdna.com

Customer Engagement Planning with your Head in the Cloud

As the year ends and plans are in place for 2013 many companies will have focused heavily on where social media fits in their business and more importantly produced endless statistics to support (or not) reasons to invest in more social media stuff. The CMOs will be all for it; the CFO will only be interested in ROI; the CTOs will have their exclusive opinions.

Customer Engagement

I wonder where the strategic conversations will turn to How can we attract and/or retain customers?

By now the majority of companies will have some elements of a social media some of which will be integrated with their CRM. But what actually needs to shift significantly to effectively engage customers for the long term lies not in the whizziness of the latest social media investment but more importantly in getting to know your customers communication style and matching service, advisors, product to them.

Social media is changing customer loyalty; suddenly customers have access to faster, wider rages of choices than ever before. Having the ability to track customers behaviors and their preferred communication style could be the difference between keeping and losing a customer.

Click here to see how you can get ahead of the game.

Your DNA Just Got More Personal

Personalized Reports make it easy to customize DNA Natural Behavior data for your clients and employees

The most recent product release for the development team is our new DNA Talent Report and customizer. Personally, I am excited because this gives all DNA users a chance to play me (e.g. Product Development Manager) for the day and design their own reports from start to finish.

This new feature provides our users ultimate flexibility in the application of DNA Reports, regardless of the application.? This new flexible model allows us to apply personality data into any application and simulate how an individuals natural behavior style will apply in a specific role whether it be a client/ customer role, job role, or any other role you define.

Get started and build your report by following the 2 simple steps below.

1. Choose to build your report using our templates or start your design from scratch

In our beta testing for this product, we did tests with sample groups who were in our Business DNA & Financial DNA communities and also in very niche communities such as book promotions, Leadership Coaching, or manufacturing. Through these tests we developed template reports which you can use or choose to start completely from scratch.

Custmized reports, report features, dna behavior, financial dna, business dna, personality reports

Templates Available:

Financial DNA Investor Talent Report
Financial Advisor Talent Report
Leadership Talent Report
Business Talent Report
Wholesaler Talent Report
Accounts Receivable Talent Report
Accounts Payable Talent Report
Outside Sales Talent Report
Inside Sales Talent Report
Career Talent Report
Sports Talent Report
Entrepreneurial Talent Report
Family Life DNA Report




2. Choose 10 items which you wish to show on your report

Next, choose 10 items which you wish to show on your report- choose any factors or insights available on our reports and choose descriptor words which will represent the success factors or risks which may apply to that specific insight you chose. Our system will do all of the calculations for you, show you what their score is for that attribute as well as determine if it is a success factor or a risk for the given role you specify.

3. Design your report

Finally, add colors and graphics to your reports to make it your own. Customize the heading colors, graphs and logos.

To start customizing your report, email inquiries@dnabehavior.com and request a Report Customization Guide.

Engaging Customers to Inform Growth Strategies

customer engagement case studies, employee engagement case studies

There is endless chatter around engaging customers; understanding the consumers headspace; how they are using the cloud; understanding their buying behavior and how to shift focus to engage this new breed of customer to improve business bottom lines. IT departments and Marketing heads are likely left asking what it all means for their business. But they know they need to get on board in order to leverage customer insight to inform growth strategies.

To cut through the confusion the first step is to realize that there is an essential difference between winning market share and engaging and retaining customers. Going after market share as a priority is between business competitors and rarely involves the customer. However, engaging customers through gathering and understanding behavioral intelligence creates a high-value relationship, one that customers see as having worth.

To provide a tangible solution to this problem, more and more organizations are realizing the power of behavioral profiling; using this approach to not only understand how to communicate more effectively with customers but also to understand their decision making style.

With technological advances such as this it is now possible to understand, like never before, your customers behavior and communication style. This holistic knowledge of your customer will fundamentally improve how your organization interacts with customers. Taken a step further it allows businesses to match sales people and advisors to the communication and decision making style of their customers.

For more information, visit the Communication DNA website.