In this unprecedented time, the world is in a panic. Every business is feeling the effects of COVID-19. From local coffee shops to international conglomerates, everyone is impacted. Now, it’s more important than ever to show leadership.
When communicating with clients, you should reinforce that you are available, here to support, and together we are going to get through this. Remind them of your value. When you show that you are present, it strengthens confidence. Your messaging should emphasize that they are not alone. They have access to investment professionals who can provide actual knowledge.
This is Scary
No one knows what exactly to do. Will this quarantine last for 10 weeks? Ten months? No one knows. With each passing day, we swallow another spoonful of fear.
During this time, it might feel better to stay quiet, hide from the panic, and let this storm pass. But even if every fiber in your body says to run away, we must face the darkness.
Your courage is the light. Clients need to see you, hear from you and feel taken care of.
You should be sending your clients email with status updates on how COVID-19 is impacting your office. This could include that all team members are working from home, during normal hours, and are available. Give them any additional information specific to your office.
While it may seem like we have all received 100 response emails from every vendor we’ve ever given our email address to, it is important. This shows your clients that you are here for them and that even in this crisis, you are still their trusted retirement plan advisor.
Read more commentary by Rebecca Hourihan here.
Plus, your clients care about you. They want to learn that you have a backup plan, that you and your team are safe. Maybe advisors have had clients for decades, and these relationships will appreciate an update. Each community feels ripples; coming together (digitally) strengthens our connectivity.
Be the Leader
When the storm passes, clients are going remember who communicated the best. They will remember who kept them informed. They are going to see those companies and people as leaders. Be their leader.
Now is the time to increase digital communication. This includes e-newsletters, emails, social media, webinars, videos, podcasts, and other distance media. Just because you can’t meet physically face-to-face with your clients doesn’t mean you should stop communicating with them.
Rather, take this physical distance as an opportunity to become digitally close. Make them feel like you are on top of the news, changes, and updates. More and more people are in front of their computers, phones, and devices. They want information on what is going on. Be their source of information and take charge—be their retirement plan leader.
Doubling Down on Communication
In times of crisis, you have the ability to help employers wade through the turbulent waters of this storm and keep the retirement plan faith. From the discussed SBA loans available to possible new safe harbor provisions to other new information about hardship withdrawal, everything is changing lightning-fast.
From small check-ins to the bigger updates, reenforce with your clients that you are here for them. Your team is their trusted advisor and, together, we will get through this.
Thanks for reading and Happy Marketing!
Rebecca Hourihan, AIF, PPC, is the founder and CMO of 401(k) Marketing, which she founded to assist qualified experts operate a professional business with professional marketing materials and ongoing awareness campaigns.