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4 Strategies to Keep Your Business Thriving

We're all about helping you grow your retirement plan business. Check out four key strategies to help you build a sales pipeline and set your business up for success in the new year.

Strategy No. 1: Dedicate time to market your business

It takes time to promote your products and services, but consider this time well spent. A crystal-clear marketing plan can elevate your business by helping you communicate your value to clients and partners.

Complete your marketing plan, then review it on a regular basis. Your goals are the heart of your plan, so dedicate a consistent time — like an hour each month — to assess your progress toward them. Soon it’ll be routine for you and your team to check your plan, refine your marketing activities and celebrate your wins.

Strategy No. 2: Create a content library that shows your expertise

Make sure your written and digital materials align with your marketing plan. When you have a solid content library, you’ll always have the right information to share when you need it. Match the content to the three stages of the pipeline — awareness, consideration and intent:

  • For the awareness stage, create materials that provide value to your clients without explicitly promoting yourself.
  • For the consideration stage, include materials that talk about the value you bring and your differentiators.
  • For the intent stage, share content that really plays up your differentiators and helps you make the sale.

If the idea of creating a content library sounds daunting, remember that you can reach out to your provider partners — like The Standard — for materials. Review and update your library regularly, and make sure your materials do more than shine a spotlight on you and your business. Provide value to your clients whenever you can.

Strategy No. 3: Build awareness at events

Think about your prospects, then plan to attend or host events that target them. Check out this list of virtual and in-person options:

  • Webinars
  • Seminars
  • Prospect or client roundtables
  • Joint client meetings with centers of influence, like TPAs, DCIOs, CPAs or ERISA attorneys
  • Speaking engagements at industry conferences

For each event, decide how and where you’ll engage with prospects. Will you host a dinner during a conference? Greet attendees at a booth? Send emails after a webinar?

Strategy No. 4: Turn to prospecting resources

In the early stages of lead development, certain resources can save you time and help target the right prospects. For example, The Standard can connect you with tools that leverage data on retirement plan opportunities in your area. Take advantage of market share analyses, plan searches and employer plan reports, which can help you decide if a lead is the right fit for your practice.

When you’ve identified leads, start engaging with them through social media, email campaigns and virtual meetings. Save in-person meetings for qualified and active prospects.

For more help building your business, contact your retirement plan consultant at The Standard.

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