BUSINESS STRATEGIES
Strategic planning from page 22
Getting social
The second top advisor I sought out for input on 2021 planning is Matthew E . Schiff , CLU , ChFC , president of Schiff Benefits Group , which specializes in the design , implementation , financing , and ongoing administrative support of non-qualified supplemental executive benefits programs . Mr . Schiff has more than 27 years of experience in the financial services business and is recognized as a leader in the deferred compensation field . With regards to my question about planning at such an uncertain time , Mr . Schiff said , “ I am making plans that every meeting will be via Zoom . In years past , I travelled all over . Now , I will be talking with clients via the socially accepted method of Zoom , which has been a long time coming . And as for our business approach , we now are spending more time putting marketing videos on YouTube , and enhancing our social media presence . While social media helps us get our message out , it doesn ’ t drive our sales .”
Further to the pandemic , I asked the three what they ’ d learned from 2020 that they ’ d take into account as they put together their strategies for 2021 . Mr . Gagne told me , “ Million Dollar Round Table members have extensive experience providing their clients with support during uncertain times . During this unprecedented year , I ’ ve continued to leverage insights shared by fellow members at the MDRT Annual Meeting Global Conference Virtual Event and via the MDRT Resource Zone , and I ’ ve found them to be so relevant and timely for 2020 .
“ Strategies on cultivating emotional intelligence have been particularly helpful this year ,” he continued . “ Since we ’ re now meeting with clients virtually more often than not , it can be challenging to read body language and emotions via video or chat — but it is key for us to continue connecting with clients on a personal level . In fact , a recent MDRT study found that 85 % of Americans would be more likely to trust recommendations from financial advisors if they demonstrate emotional intelligence . Demonstrating emotional intelligence means actively listening and acknowledging our clients ’ needs , communicating clearly , following through on our word and showing our clients that we care about them as people .
Tapping into emotional intelligence
“ By sending a client homemade cookies or calling them to check in ,” Mr . Gagne said , “ we can continue to demonstrate emotional intelligence through small actions , even though we ’ re not faceto-face . And if we can continue cultivating meaningful client relationships in the midst of hardship , we ’ ll be able to maintain
“ We now are spending more time putting marketing videos on YouTube , and enhancing our social media presence .”
Schiff
client trust as we advance into the future . The key is to have a communication plan . For us , we have embraced ‘ update videos ’ that we send to all clients every two weeks . These are short 3- to 5-minute videos that are used as a touch point for our clients .”
Mr . Schiff told me that what he ’ s learned from the pandemic is actually a very strong positive note about our business . “ People want our product . In fact ,” he said , “ in times of uncertainty , we provide the certainty that they are looking for . Experienced advisor Tom Hegna , who has a great message for clients on how to ‘ survive ’ retirement , has a new marketing piece that we will be adding to our platform . Between his videos and marketing program , the ‘ education ’ he provides to clients motivates people to engage us — the financial advisor — to help them . If we do nothing but add that , we can have a great year . But we also are working with employers on ways to retain employees in a COVID environment , and what we are finding is that both the employee and the employer are concerned about both guarantees going forward and growth . People in our business are ideally suited to care for their clients during these times .”
Mr . Dona ’ s biggest lesson learned was the importance of quick adaptation . “ We learned that we have to be able to adapt and learn , and do it quickly . Not only did we have to change , but we had to help our advisors adapt to their new world . Many had never done an e-app before . For many of them , this may be a blessing in disguise in that it forced them to change , and after they get used to the change , I think we ’ ll all appreciate the efficiency that electronic apps can bring . We also had to move quickly to educate advisors on the resources available to sell remotely . Zoom and Microsoft Teams meetings are now becoming second nature , but a few weeks into the pandemic , we were doing seminars on how to set up Zoom calls and change client meetings to work in a virtual setting .
24 Perspectives Q1 2021