Centurion Consulting CMO

One of the best ways to get answers to questions that you might have about your business, or your services or any number of other issues is to survey the people who can best answer your queries.  Advisors use surveys in a variety of ways, such as querying clients about the level of services provided, colleagues on interest in webinar topics, referral sources on qualities that they value when referring business, employees about the firm’s benefits package, etc.

Surveys are an excellent public relations tool as well.  Recipients are impressed when they find out that the advisor is interested in their opinions, especially since so few advisors use surveys.  Surveys also provide a benchmark and, when used on an on-going basis, can indicate the success or failure of a specific program or campaign.

Surveys can be completed by telephone, mail, in person, in a one-on-one situation or in a focus group, or on-line.  The survey method depends on the type of information needed.  A telephone interview is good for a small group of interviewees where probing questions are useful.  A written survey is more appropriate for a larger participant pool with close-ended questions (Yes/no answers, multiple choice, etc.).  Face-to-face interviews are time-consuming and, oftentimes, the incremental value is not worth the cost, unless the topic requires a discussion.  On-line surveys are an easy and cost-effective way to obtain information from participants.  Platforms such as Constant Contact, Qualtrics, Survey Monkey and Zoomerang are useful tools generate graphs automatically.

If you’re considering using a survey, here are some simple guidelines to help you.

1.      Pose the question that you want answered.  For example, you may want to know what additional services you should provide your clients.  The question is, “What other services do our clients need?”

2.      Select the group who can best answer the question or, in this case, the target group to whom you will be marketing the new services.

3.      Develop a short survey of 8 to 15 questions.  Use close-ended questions when surveying a large number of people and open-ended questions when conducting a focus group or telephone interview.

4.     Ask unbiased questions.

5.      Whenever possible use a Likert scale in multiple answer questions, such as one to five from “not helpful” to “very helpful.”

6.      Decide who will execute the survey.  For example, can you conduct the survey with in-house personnel or should you hire an independent third party for confidentiality and candor?

7.      Decide on the survey method. For example, do you want a telephone survey or an on-line survey?

8.      Send correspondence to the selected survey participants informing them that someone will contact them about a survey.

9.      Offer a reward for participation, such as a gift card for the local coffee shop, to increase participation.

10.  Allow 10 days for survey completion.

11.  Most results will be generated within the first week with participation dropping off thereafter.  A reminder notice a few days before the survey close, generally, spikes response rates.

12.  Analyze the results.  Be aware of small sample sizes, since they may not accurately reflect the opinion of your targeted population.

13.  Make your decision based on the survey results.

Surveys are one of the best ways to find out about the perceptions of your clients, referral sources, employees and others.  Too often, advisors are ready to make decisions without appropriate research.  A simple survey can provide concrete answers, can offer a course of action that is well supported and can benchmark the progress in reaching your goals.

An additional benefit of surveys that is oftentimes overlooked is its leveragability. Surveys have the greatest leveragability of all marketing activities, because they are unobtrusive, great for research and increase your exposure to multiple individuals.

For example, the results of a survey can be written up in an article, a blog and a press release, included in a newsletter, pitched to the media, posted on a social media page and website, and serve as the basis for a speech, a webinar and a white paper.

Overall, surveys are a great marketing tactic. They help you find out more about your clients, improve your business through analysis of results, and are easily convertible into other marketing outlets. With the right tools, and the proper information, you are now on your way to conducting surveys and successfully marketing to improve your business.

Please contact us if you would like more information about using surveys to drive your marketing.

That’s the question that I’ll be discussing at the National Institute of Pension Administrators (NIPA) Annual Forum & Expo in Las Vegas next week.

NIPA distributed a survey, which I created, to thousands of NIPA members. The survey contained questions about their social media usage and the success of their social media participation. I’ll be revealing the results of the survey in my 90-minute general session presentation “Effective Use of Social Media” on Monday, April 29. Two roundtable discussions will take place; the first, later on Monday and the second on Tuesday.

One of the survey results reflects the fact that LinkedIn drives business. The NIPA survey confirms two previous annual surveys that I’ve conducted through Centurion Consulting Group, the marketing firm that I founded in 1995.

Of all social media sites, including Facebook, Twitter, Google+ and LinkedIn, the latter plays the largest role in generating business. At the NIPA conference, I’ll share case studies that detail exactly how LinkedIn is such a successful marketing tool.

The most important best practice is to create a well-developed page. To optimize your page and attract prospective clients and potential referral sources:

1. Write in the first person
2. Use key words that prospects will search
3. Create a descriptive headline
4. Develop a company page
5. Fill out all of the available sections

Take time to tell your story and explain why you do what you do. This is critical as it fosters a connection with the reader on an emotional level, which drives business.

 For more information on LinkedIn best practices, click here. If you’re attending the NIPA Annual Forum & Expo, please introduce yourself.

 Find out more about social media in my book, Get a Black Belt in Marketing: The Marketing Success Book for Retirement Industry Professionals. Based on my black belt in karate, this 100-page book includes business development concepts, strategic and tactical marketing, as well as spreadsheets, charts and war stories from the marketing trenches. The book is available as a PDF from my website or as a softcover from Amazon.

The blog contains excerpts from the speech that I gave at the NAPA/ASPPA 401(k) Summit on March 4^th. I’ll be speaking at a NIPA general session on ”Effective Use of Social Media” and conducting a workshop on “Business Development Through Social Media” on April 29 & 30 in Las Vegas.

There are two ways to get press: one is to write an article and the other is to get quoted in an article. This blog examines both types of media coverage.

Authoring articles that appear in industry or consumer publications is an excellent public relations technique to promote your firm to potential clients and referral sources.  By-lined articles can be used as a client development tool. Generally, articles run about 800 to 1,200 words, depending upon the publication.  The article can be reprinted and given to potential clients and referral sources. Articles can be included in the material that you hand out with your brochure and on your web site.

Any speeches that you make should be converted into articles for publication.  Since tape-recording a speech and transcribing it into an article requires relatively little work, this is a cost-effective public relations tool for you.  The speeches can also be used for your e-newsletter articles.

One of the fastest ways to write an article is to use a tool, such as Dragon Naturally Speaking, which I have used for years. The software allows you to speak into a microphone and the words are typed automatically. For about $100, you can purchase the software, load it into your computer, read a couple of paragraphs (so the software learns your voice and accent), and then you’re ready to use the program. Most people can talk 150 words per minute, whereas typing is not nearly as efficient.

The procedure for placing an article in a publication is as follows:

1. Select the publication that matches the target group with whom you want to communicate. Generally, there are two potential target audiences: prospects (end-users of your services) and referral sources (those who refer business to you).
2. Brainstorm article ideas that can generate work for you. You don’t want to write an article on Cash Balance Plans if you don’t offer those plans.
3. Contact the editor and suggest an article idea.
4. Write the article tailored for the publication.

Another way to obtain media coverage is through quoted articles. Getting your name in the press not only gives you immediate exposure to the people who read the publication, but also provides you with an opportunity to reprint the article and send it to current clients, referral sources and, more importantly, to potential clients and referral sources.  Reprints are an ideal way to increase your profile in the business community. People are usually impressed if they see that you are quoted in a publication; they feel that the reporter called on you because you are an expert.

As a former reporter, I always had my favorite sources, whom I consistently quoted. I’ve developed a number of tips, so you can become a reporter’s favorite source. Talking to reporters is a two‑edged sword.  You can receive great publicity or you can be misquoted, which, unfortunately, happens frequently.  Here are some suggestions to minimize the possibility of receiving unfavorable or misinterpreted publicity:

1. Take the reporter’s call immediately.  Reporters are constantly meeting deadlines and sometimes they can’t wait five minutes for a return call.  While you may think that you can return a call within the day and it may not make a difference, reporters usually cannot wait.  Once a reporter finds a good source, who picks up his or her call right away, the reporter will use this person as a source over and over again.

2. Alert your staff that press calls are a priority and you should be notified immediately about a call.

3. Ask the reporter for the angle of the story.  You don’t want to complete an hour interview with the Business Journal on “financial advisory firms” only to discover that the story was on “fraud at financial advisory firms.”

4. Answer questions beginning with the question and then completing the answer.  For example, “What are the major aspects in designing a financial plan?”  Your answer, “The major aspects when designing a financial plan are…” By starting the answer with the question, you will be more difficult to misquote, especially when the reporter is using a tape recorder and he or she hears the questions repeated in your answers.

5. Try to give more than “Yes” or “No” answers.  These short answers don’t provide the reporter with any good quotes.  Add a sentence or two, but don’t answer questions at length (such as a paragraph).  Allow the reporter to ask the next question.

6. Don’t use technical jargon. Speak in easy to understand language.

7. Never say, “As I said before…” Reporters may ask the same question looking for a more concise answer.

8. Never talk “off the record.”  These sentences somehow find their way into print.

9. Use humor with caution.  You may have a dry sense of humor and the reporter may interpret your sarcasm seriously.

10. At the end of the conversation, suggest that the reporter call you with any additional questions.  Ask when the article is scheduled to appear and then monitor the publication.

11. Never call a reporter and inquire about the status of the article or when it will appear.  Reporters dislike being bothered with these types of calls.

12. If you know a reporter will be calling on you, prepare yourself by verbalizing answers to the questions you may be asked. Use the interrogatories – who, what, where, when, why and how.

13. If you use your client’s name in an interview, be sure the client has given approval prior to your discussion with the reporter.

14. Leverage press by posting the article on your website, in collateral material, on social media, etc.

Order Get a Black Belt in Marketing: The Marketing Success Book for Retirement Industry Professionals to learn more about dealing with the media.

This time of the year is the best time for planning your marketing strategy for the next 12 months. The strategic plan, which is the foundation for your marketing strategy in 2013, is a vital first step to growing your business.

I’ve cruised around the world, but never the Caribbean, so I’m taking a seven-day Western Caribbean cruise and offering four marketing seminars during two days at sea.

The Carnival Liberty cruise leaves Miami on Saturday, December 29th and returns to Miami on Saturday, January 5th stopping at Cozumel in Mexico, Belize, Mahogany Bay in Honduras and the Cayman Islands. Current listed prices range from $759 per person for an inside cabin to $1,999 for a suite.

The end of the year is an ideal time to map out your strategic plan for 2013 and your marketing plan. Research indicates that firms with strategic and marketing plans generate more revenue than those without plans.

The marketing seminars on the cruise include the following topics:
• How to Develop an Impactful Strategic Plan
• How to Build a Successful Marketing Plan
• What’s All this Talk about Social Media: Which Platform is Working for Business Development
• How to Get the Most Out of LinkedIn
• 50 Ways to Love Your Leverage: How to Capitalize on Every Marketing Activity
• Using Webinars to Develop Business
I’ll be discussing many topics in my book, Get a Black Belt in Marketing: The Marketing Success Book for Retirement Industry Professionals, which is filled with strategies, tactics, recommendations, success stories and action plans to ensure that your marketing is developing new business for you.

Each seminar will be approximately one hour in length held during the cruise’s two days at sea. I’ll be available for one-on-one consultations as well.

Let me know if you plan to cruise, so I can book the appropriate size venue for the marketing seminars.

Last year I spoke at the fi360 Conference in San Antonio on “Get a Black Belt in Marketing” using my black belt in karate as a springboard for discussion points. It was standing room only at my session and I had a lot of people come up to me after the presentation to ask questions. I realized that I couldn’t help everyone who needed marketing advice. On the plane ride back to Los Angeles, I decided to write a book on marketing for retirement industry professionals to help them navigate the marketing arena.  

Get a Black Belt in Marketing: The Marketing Success Book for Retirement Industry Professionals includes concepts, strategies and tactics peppered with stories about success and lessons learned, along with a plan of action to accomplish the goals.  

Industry Guru Bob Veres read the book and wrote the following testimonial after reading the book: “Black Belt Marketing presents a variety of interesting marketing tips, ideas and techniques, including some things I have never seen before: the leveragability factors of different kinds of marketing efforts, the distinction between features and benefits in an advisor’s service offer, and how to use LinkedIn to best effect.  But the real value can be found in the practical daily and weekly activities that any advisor can do right now to start a genuine marketing initiative.” 

Read the  Table of Contents and the Introduction to learn more about the topics in Get a Black Belt in Marketing: The Marketing Success Book for Retirement Industry Professionals.   

The book is available in electronic version for $9.95 and in a soft cover on Amazon.com for $19.95. If you’re not happy that you purchased the book after reading it, I’ll refund your money — a money back guarantee.  

This is the Second Annual Centurion Consulting Group Social Media Survey to assess the use of social media in the financial services industry. Last year’s survey results showed that 10 percent of respondents secured clients from LinkedIn, while no respondents got any clients from Facebook or Twitter.

If you complete this survey, you will receive a report with the results. The survey should take less than 90 seconds to complete.

Please follow this link to take the survey: http://www.tinyurl.com/d8q6va3. Please respond by Tuesday, July 31st.

As a former reporter, who wrote for The Wall Street Journal, as well as a number of other publications, I always called certain people as resources to quote them in the article that I was writing. When I work with my clients, I train with them on how to become the ideal resource for reporters. One of the first mandates is to take the reporter’s call immediately and, if that’s not possible, to return the call as soon as possible.

Unbeknownst to me, a client sat on a message from a Time Magazine reporter for 24 hours. By the time he got around to calling the reporter back, the opportunity had vanished. On the other hand, another executive committed to taking the reporters’ calls at anytime and anywhere. Within a year, he was quoted in publications on a weekly basis because of his accessibility for reporters. Always alert your staff that press calls are a priority and you should be notified immediately about a call.

Ask the reporter for the angle of the story. You don’t want to complete an hour interview with the Business Journal on “financial advisors” only to discover that the story was on “financial advisor fraud.”

Answer questions beginning with the question and then completing the answer. For example, “What are the major aspects in designing a plan?” Your answer, “The major aspects when designing a plan are…” By starting the answer with the question, you will be more difficult to misquote, especially when the reporter is using a tape recorder and he or she hears the questions repeated in your answers.

Try to give more than “Yes” or “No” answers. These short answers don’t give the reporter any good quotes. Add a sentence or two, but don’t answer questions at length (such as a paragraph). Allow the reporter to ask the next question. Don’t use technical jargon.

Never say, “As I said before…” Reporters may ask the same question looking for a more concise answer.

Never talk “off the record.” These sentences somehow find their way into print.

An article with good quotes from you could be sent to clients, referral sources and prospects and used as an excellent public relations tool. For more information about becoming a great source for reporters, please sign up for our free 30-minute webinar on Thursday, April 19th at 1 PM PT.

https://www1.gotomeeting.com/register/176552769

I’ll also talk about how to get your articles published in your target magazines and newspapers. And I’ll discuss how to set up an on-line newsroom on your website to attract the media.

Do you have a written strategic plan for 2012? In this free webinar, we will discuss the framework of the strategic planning process, so you can use the valuable components with you and your own firm or with your clients. From Mission to Vision, you will learn how to define your goals. Using SWOT Analysis (Strengths, Weaknesses, Opportunities and Threats), we will discuss what accelerates and hinders the accomplishment of your vision.

On Thursday, January 26th at 2 PM PT, we’ll provide a 30-minute demonstration on how to create a blueprint for achieving your goals in 2012.

Strategic Planning: The Key to a Successful 2012 will provide a step-by-step, easy-to-follow methodology for developing you plan, which will help you accomplish your 2012 business goals. The strategic plan is the foundation for your marketing plan. According to research, firms with strategic plans and marketing plans generate more revenues than those without plans.

Please click here to sign up or copy and paste this URL into your browser to register:
https://www1.gotomeeting.com/register/687951937

Thursday,January 26th.
2 PM PT to 2:30 PM PT.
3 PM MT to 3:30 PM MT.
4 PM CT to 4:30 PM CT.
5 PM ET to 5:30 PM ET.

Warmest Regards,
Barbara Lewis MBA
Your Outsourced Chief Marketing Officer

The ancient Roman God Janus, which has two faces looking to the past and to the future, is the namesake of January. Appropriately, the month is a time for analyzing last year’s data and results, which can substantially impact your 2012 marketing activities and success.

This blog  includes recommendations on how you can kick off the New Year to ensure that this year is better than last year.

Top 10 Marketing Tips for a Successful 2012

1. Analyze all of your new clients from 2011 and use the results to develop your 2012 marketing plan. (Read Accounting Today, “Analyze This” article for more information on data analysis.)

2. Identify marketing activities that have proved the best return on your investment.

3. Track data on all new clients in 2012, periodically analyze and adjust marketing accordingly. (Watch The Standard webinar, “Get a Black Belt in Marketing: How to Avoid the Six Biggest Mistakes for Successful Marketing.“ Watch in WMV or MP4.)

4. Create a database for prospective clients, referral sources and prospective referral sources. (Read the article in Financial Planning, “How to Build a Database to Track Your Clients.”)

5. Develop a strategic plan, which includes a SWOT analysis (strengths, weaknesses, opportunities and threats) and action plan as the foundation for the marketing plan. (Read the blog post “If You Fail to Plan…Plan to Fail“ on February 16, 2011.)

6. Perform gap analysis on current clients to determine where services can be expanded.

7. Identify current and prospective referral sources and market to them specifically.

8. Create a marketing plan with a schedule of activities for 2012.

9. Leverage all marketing activities. (Watch the webinar, “Marketing Leverage.”)

10. Use LinkedIn to develop relationships that enhance new business.  (Read “LinkedIn Best Practices” white paper.)