asset accumulation series webinar 2 of 7: define classifications and sources july 30, 2014
TRANSCRIPT
Asset Accumulation SeriesWebinar 2 of 7: Define Classifications and
SourcesJuly 30, 2014
Agenda
• Overview of ActiFi and the 2014 Redtail Webinar Series
• Recap of Session
• Business Development Process: Define Classifications and Sources
• 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
SourcesDefine Stages Identify Default
Next StepsCreate Pipeline
ReportSegment 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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Worksheet: Define Your Classifications
Classification Definition
Example: Prospect Not yet a client, building a relationship
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Classifications are the kinds of relationships you have with people from the time you first hear about them until they become a client.
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
Worksheet: Define Your Source Types and Names
Source Type Example Source Names
Example: Client Referral Client Name
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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.
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
SourcesDefine Stages Identify Default
Next StepsCreate Pipeline
ReportSegment Your
Client Base
Analyze Your Client Base/Identify Ideal
Opportunities
Next TimeWednesday, August 13th
4:00 Eastern/1:00 Pacific
Today’s presentation and slides will be made available by Redtail. Look for
an email when it is posted and ready for you to access.
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Questions?
Brian Kostick763-746-1267
Jessica Weisner800-206-5030 x1066