Asset Accumulation Series Webinar 4 of 7: Identify Default Next Steps August 27, 2014.
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Transcript of Asset Accumulation Series Webinar 4 of 7: Identify Default Next Steps August 27, 2014.
Asset Accumulation SeriesWebinar 4 of 7: Identify Default Next Steps
August 27, 2014
Agenda
• Overview of ActiFi and the 2014 Redtail Webinar Series
• Recap of Previous Session
• Business Development Process: Identify Default Next Steps
• ActiFi
• Why it is important
• How to define requirements for Redtail on paper
• Redtail
• Translating requirements from paper to technology
• How to make it work on Redtail
• Q&A
• Preview the next Webinar in the SeriesAll Rights Reserved to
ActiFi2
Getting the Most Out of Technology
What Percentage of Technology ROI is tied to Advisor Utilization?
Answer: 100%
How much benefit does an advisor/planner get if they use their old processes on the new technology?
Answer: NONE
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WHY
HOW
Keys to Success
Keys to Success – ALWAYS REMEMBER
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9For illustrative purposes only
Overview/Define Your
Process
Define Classifications and Sources
Define StagesIdentify
Default Next Steps
Create Pipeline Report
Segment Your Client Base
Analyze Your Client
Base/Identify Ideal
Opportunities
Define Your Business Development Process
Define Your Classifications
Classifications are the kinds of relationships you have with people
from the time you first hear about them until they become a client.
Examples include:
• Lead: Not acquainted, acquired contact info by referral or some other method
• Qualified Lead: Determined to be a good “fit”
• Prospect: Not yet a client, building a relationship
• Client: With an opportunity or life event on the horizon
• Center of Influence: Not necessarily a client, but a potential or existing referral source
• Affiliated Professional: Tax attorney, divorce attorney, insurance agent, etc.
Write down your exact words and how you define them
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Define Your Source Types and Names
Source Types and Names help you identify where a prospect came from.
Source Types are broader categories, while Source Names indicate which specific Source Type generated the prospect.
Write down your exact words and how you define them for your Source Types.
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Examples of Source Types
Examples of Source Names
Marketing Campaign Direct Mail, Newsletter
Center of Influence COI Name
Affiliated Professional Attorney name, CPA name
Personal Networking Rotary, Kids’ soccer
Event Social Security Education seminar
Define the Stages in Your Pipeline
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Get contact info
Introduction
Discovery
Proposal
Commitment
Onboard
Stages define where you are in the sales process with each prospect
Write down your exact words and how you define them
Define the Processes for the Stages in Your Pipeline
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Get contact info
Introduction
Discovery
Proposal
Commitment
Onboard
Each Stage has a process outlining the steps involved, what materials are used or introduced, what role is responsible, and the due date.
Depending on the advisor and the prospect, the time and number of steps involved to move to the next Stage may vary.
Defining a Process Activity
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What is the activity (action verb)
Who does it (role, not name)
When does it occur (in relation to the milestone)
How long does it take
What triggers the activity
How do you know when the activity is completed
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Business Development – The Golden Rule
Always, ALWAYS, ALWAYS, ALWAYS have a time
specific NEXT STEP attached to every
opportunity!
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STEP 1:List and define all types of client “touches” that you make
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For illustrative purposes only
STEP 2:Define the Default Next Steps for Your Pipeline
Define the Default Next Steps for Your Pipeline
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21For illustrative purposes only
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Managing Your Sales Process on Redtail
Terminology and language really matter. Identify and define your terms and make sure everyone is in agreement.
Balance optimism and realism in your opportunity forecasting.
You can’t monitor what you don’t measure. Accurate data is important, but only to the extent that it serves management review and decision-making.
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Managing Data on Redtail -- Tips
Redtail is your data source. Excel is a tool used to manipulate the data, not to store it.
Talk to Redtail about tips and tricks they have to manage your client data.
This is not a one-time project. Things are always changing with your clients. You should review your data regularly to make sure your data remains accurate.
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Overview/Define Your
Process
Define Classifications and Sources
Define StagesIdentify
Default Next Steps
Create Pipeline Report
Segment Your Client Base
Analyze Your Client
Base/Identify Ideal
Opportunities
Next TimeWednesday, September 10th
4:00 Eastern/1:00 Pacific
Today’s presentation and slides (along with all webinars in the Series) will be made available by Redtail via
email to the link below:
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http://help.redtailtechnology.com/entries/52534094-Redtail-Presents-ActiFi-s-Asset-Accumulation-Series-
Questions?
Brian Kostick763-746-1267
Rick Williamson800-206-5030 x1067