missing piece client engagement

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.


How to Motivate and Inspire Yourself, Your Customers and Your Team in 2014

DNA Behavior, Business Planning, Behavioral InsightsThe year is almost over – and for me, that means it

Are Your Communications Connecting and Engaging?

In a single day there is so much vying for your clients attention: work, family and the never-ending to-do lists. As an advisor, you are in constant competition merely for the chance to connect and develop your relationship.

Connecting with your client is critically important to the continued long-term success of your relationship.? The strength and staying power is directly correlated to how well you engage your clients.

Heres a snapshot of your current client marketing/engagement plan:

  • Annual Meetings
  • Newsletters
  • Client Events

Now how can you turn that into a behaviorally smart plan?

  1. Uncover the behavioral style of your client
  2. Tailor your newsletters to the 2 communication styles that most reflect your client base
  3. Create a unique experience at the clients annual meeting
  4. Design and market your events to the different styles

Lets see how each of these steps would work in your practice.

Step 1: Use an objective system to discover the unique behavioral style of your client.? Lets use Lifestyle as the primary client style for purposes of illustration. This type of individual likes open conversation, fun, big picture overviews with minimal details.

Step 2: Your newsletter should have pictures of people, bullet points, and not a lot of details (or you can link to details).? Be sure to use examples and stories that illustrate your main points.

Step 3: At your annual meeting, allow more time for Lifestyle clients than you normally would for other styles. ?Ask them an engaging question about their life and let them talk. Be sure your office is very comfortable and that the Lifestyle client feels you have done something special for them. You and your staff should smile and have an upbeat attitude.? Even in challenging situations, try to find the positive.

Step 4: If you are conducting educational events and want the Lifestyle client to be engaged, consider holding the event at a fun, new restaurant or coffee shop.? In your invitation, you will need to emphasize the opportunity not just to learn but to meet new people.

Get more hits than misses by targeting your marketing message to the behavioral style of your clients.? The results for your efforts will be higher client retention rates and increased referrals.

Peggy Mengel ? Vice President, Human Behavior Solutions Advisor at DNA Behavior

Specializing in financial services, Peggy uses behavioral intelligence to help businesses navigate human differences to unlock performance potential. DNA Behavior helps grow behaviorally smart businesses and financial advisors worldwide to increase competitive advantage using the most reliable behavioral discovery and performance development systems on cutting-edge technology platforms.

Visit the Financial DNA website to learn more about building client engagement in the financial planning process.

How Behavioral is Your Big Data?

What if you could empower your sales and service people with bigger behavioral data that could generate 23% more revenue?

Many of my financial advisor coaching clients look at their CRM as a necessary evil. At times they can be frustrated with all the data input done for each client.

But like most things in life, when we run into frustration, we may need to change the lens to get a different view.

The key question to shift our view: What do you do with this data?

The standard response:? Marketing activities.Behavioral Data, CRM Behavior, CRM Personality, Behavioral Marketing

We email our newsletter to all the $250,000+ accounts, invite our $5 million clients to our annual summer wine tasting event and send out invitations to our clients who are 55+ to attend our pre-retiree lunch and learn programs.

Now, change the lens.

What if you could add a little personality to your CRM and take your marketing efforts one step further?? Imagine segmenting your 55+ pre-retirees by whether they are more goal or people oriented and then tailoring the presentation to engage each of those groups in a unique way.

As suggested in Using Big Data: Act Like You Know Your Customer, financial institutions have barely scratched the surface in creating unique client experiences.

The new behavioral business model requires your firm to go beyond the traditional demographic data and get beneath the surface of actions(one type of behavior) to the real core of personality (why you behave as you do).

Engage a client on their terms and you will have less effort, more referrals, and more compliant product recommendations.

Isnt it time to get bigger behavioral data at the point of sale to create a unique experience thats centered completely on the customer?

To learn more about client engagement, please visit the Financial DNA Website.

Try Financial DNA free for 30 days!

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 and request a Report Customization Guide.