Creating and implementing an email drip systemArticle added by Darren Wiseman on February 2, 2012
Henry Glass

Darren Wiseman

Scottsdale, AZ

Joined: November 01, 2011

I have been told that for the next 20 years about 10,000 boomers will be retiring each day. As an advisor in 2012, this is your new demographic. You need to ask yourself, what makes these prospective clients different from the traditional senior generation?

The boomer generation is typically Internet savvy and wants to be educated over being sold. They prefer to shop around in the sense that they feel empowered by making their own financial decisions, which helps bridge the trust gap. Fulfilling these requirements increases the buy-in process timeline.

In order to retain prospects and increase closing ratios, it is imperative that an email drip marketing system is in place for all modern advisors.

The first step when setting up an email drip system is to, as Franklin Covey says, begin with the end in mind. Ask yourself what would you like to accomplish through your email system? Make sure that goal is attainable and specific.

A good example would be, “To satisfy my prospects curiosities about annuities so they are ready for a face-to-face meeting.”

The second step is to hedge content. I don’t recommend too high of a frequency because prospects may get disengaged or even annoyed. This means you’ll want to have enough content prepared for about one email a week.

Our most successful advisors currently implementing drip marketing typically send out a newsletter, a webinar invite, a pertinent article (from a reputable source) and a seasonal/holiday email all in the span of a month’s time.

The third step is to segment your database records based on their current buy-in state or interests. This way prospects or returning clients can be sent the material that is most relevant to them. For example, someone who is new to the system would benefit most from content that welcomes or introduces over something product specific.

Lastly, you should employ the proper program or service to manage content. This could range from anything like existing CRM software to a cloud based service such as Constant Contact. Before you jump in and start sending emails, it’s always a good idea to review the legality behind each record to ensure that your communication isn’t considered spam.

The best way to do this is to make sure that all your outgoing email communication has an unsubscribe button and that you have a prior existing business relationship with your contact. Constant Contact does a great job of helping you make sure you are sending legitimate email communications to your clients and prospects.

Some tips and tricks that will help:

  • Address each email as if it was directly to that person and not a mass email. Most email services will have a variable data area at the top of the email that will automatically have a spot for the recipient’s name. An email may read something like, “Hi Jeff, I wanted to make sure you received a copy of our monthly newsletter. You may find the financial article of particular interest to you. As always if you have any questions that I could answer for you, please feel free to contact me at xxx-xxx-xxxx.”

    Always have a call to action.

  • Determine the best stage to introduce social media. Getting a prospect to join you on a social network is a step closer to a face-to-face meeting, which is often the end goal of an email drip system. Social media makes it easier to get the conversation started.

  • Track your opens and reads and fulfillment of calls to action. By monitoring these statistics you can better determine the level of success you’re having with specific emails and their content.
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