7 Steps to Master Your Follow-Up Process

Elevate your 401(k) advisory game

Imagine you’re on the golf course, standing on the first tee, with a clear game plan for each hole. As a seasoned golfer, you know that skipping the basics—like proper stance, grip, and follow-through—can quickly ruin your score, no matter how skilled you are. These basics aren’t just routines; they are the foundation upon which your game is built. Skipping them could mean the difference between a satisfying score and a frustrating one. Similarly, in building your book of business as a retirement plan advisor, there exists a fundamental yet often overlooked process crucial for success: the follow-up process.

Mastering the art of follow-up is essential for building strong client relationships and expanding your business. Each follow-up step—sending recap emails, scheduling next meetings, staying connected, providing valuable resources, and asking for referrals—plays a pivotal role in converting pars into birdies. Imagine trying to play a round of golf without a clear strategy for each shot; you'd quickly find yourself struggling to make par. The same happens in business when you don't have a structured follow-up plan.

In this article, we will outline a step-by-step playbook for creating a follow-up prospect process tailored specifically for retirement plan advisors.

Step 1: Send a Recap Email

After each meeting with a prospect, it's essential to send a follow-up email that recaps the key points discussed during the meeting. This email serves as a reminder of the value you bring to the table and reinforces the prospect's interest in your services. Be sure to personalize the email and highlight any action items or next steps agreed upon during the meeting.

PRO TIP

To add more intention behind your email, include a specific guide, checklist, or article link related to your main conversation point. This shows expanded knowledge and active listening. Ideally, use a piece from your firm, but if you don’t have one, all good, reach out to your Home Office, DCIOs, and recordkeepers who might have topic relevant pieces and then include that as the attachment.

Step 2: Send a Calendar Invitation for the Next Meeting

During your initial meeting, if a follow-up meeting was discussed and confirmed, promptly send a calendar invitation. This demonstrates professionalism and ensures that both you and the prospective client have the meeting scheduled on your calendars. Include details such as date, time, location (virtual or physical), and any agenda items to set clear expectations.

Step 3: Establish Social Media Connections

A commonly overlooked step is sending a connection request via LinkedIn. It’s no secret that social media has become an integral part of networking and maintaining professional relationships. After an initial meeting or conversation with a prospect, connect with them on LinkedIn to stay updated on their professional updates and activities. Engage with their posts to show genuine interest in their work and to stay on their radar.

PRO TIPS

• Click on the prospect’s profile and like their most recent post.

• Send a connection request to other company decision-makers.

• Follow their company’s page.

• Look for 2nd degree connections. These people could be your biggest advocates and help you get to the next meeting, especially if the prospect happens to go cold (which happens frequently in the long retirement plan sales cycle). Proactively reach out to your 2nd degree connection and ask them how they know your prospect.

Step 4: Add the Prospect to Your Email Distributions

As you nurture your relationship with the prospect, consider adding them to your email distribution list. This allows you to keep them informed about industry updates, relevant insights, and any upcoming events or webinars. Personalize the content based on their interests and needs to provide value with every communication.

PRO TIP

Utilize tags to share targeted information effectively. For instance, tags like prospect, 401(k), HR, millennial, female, ESG, under 100 employees, SHRM, and others can help segment your lists for sharing relevant materials with specific audiences. The larger your list the more important tags become. It is a best practice to start tagging people early on, so as your list grows, it’s easier to manage, personalize content, and optimize targeted campaigns.

Step 5: Utilize Personalized Touchpoints

In addition to the core follow-up steps mentioned above, incorporating personalized touchpoints can help you stand out and build stronger rapport with prospects. Consider sending a handwritten note, relevant articles, or invitations to an upcoming event. These gestures showcase your commitment to the relationship and can leave a lasting impression on the prospect.

Step 6: Offer Valuable Resources

As part of your follow-up process, offer valuable resources to prospects that can help them make informed decisions about their retirement plan. This could include a SECURE 2.0 update article, managing a multi-generational workforce guide, 401(k) cybersecurity checklist, information about in-plan income solutions, interactive tools, or access to educational webinars. By providing valuable resources, you position yourself as a trusted advisor and resource to that prospect.

Step 7: Seek Feedback and Referrals

Throughout your follow-up process, actively seek feedback from prospects regarding their experience interacting with you. This feedback not only helps you improve your approach but also fosters open communication and trust. Additionally, don't hesitate to ask satisfied clients for referrals or introductions to other potential prospects. Word-of-mouth recommendations can be a powerful tool in expanding your client base.

Mastering the follow-up process is crucial for retirement plan advisors looking to convert prospects into clients and nurture long-lasting relationships. By implementing a structured and personalized follow-up strategy that incorporates social media connections, email communication, calendar invitations, valuable resources, and proactive engagement, you can enhance your chances of success in the competitive landscape of retirement plans. Stay consistent, genuine, and value-focused in your interactions to create meaningful connections with prospects and drive business growth.

Just as in golf, where success lies in the details and consistency, mastering the art of follow-up can transform your business. By diligently applying these steps, you ensure that every interaction with a prospect is purposeful and impactful, setting yourself apart in a competitive field. Keep your eyes on the flag, follow through, and watch your client relationships flourish, driving your business toward sustained growth and success.

Thanks for reading and Happy Marketing!

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401(k) Marketing is the modern marketing agency for the retirement plan industry. We are proud to support our clients through custom engagements, content marketing campaigns, sales material innovations, thought-leadership consulting, interactive workshops and speaking events. Our mission is to empower the retirement plan industry with high-quality marketing, ultimately inspiring Americans to become financially prepared for their future.

Retirement Plan Marketing is the solution for retirement plan advisors looking for an ongoing and scalable marketing process to generate awareness, streamline sales opportunities and earn more 401(k) business. This comprehensive, strategy driven marketing program includes digital content and sales material specifically designed to help retirement plan professionals attract the right decision makers.