Employee Benefits Marketing Checklist (10 Points) now added to Solution Library
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This 10 point checklist is designed for employers and advisors to use during the evaluation and validation of a marketing proposal. All considerations should be reviewed in order to both initiate marketing (request to quote (RTQ) / request for proposal (RFP)) with providers as well as during the presentation of competing proposals in an advisor or broker's marketing report. The checklist represents advisor best practices when presenting and evaluating employee benefit proposals from providers. It should be noted that this approach is specifically designed to expose the inadequacies of only presenting a rate comparison spreadsheet and the additional required depth of information advisors provide as well as what an employer plan sponsor should have access to in order to make a fully informed decision.
Strategies with the Marketing Checklist
1. Use the Checklist to Educate Prospects and Clients on Broker versus Advisor Value Proposition
- review the checklist with a plan sponsor to reveal the multi-step process that goes into an effective quoting, proposal decision to switch provider.
- discover the missed consideration even within the only bullet point that relates to premium cost comparison (hint: premium = volume x unit rate)
2. Use the Checklist to evaluate marketing needs, objectives and process with Clients.
- lead a thoughtful discussion with clients about the triggers for marketing as well as the pitfalls and marketing myths perpetuated by salespeople.
- engage the checklist as part of developing a comprehensive marketing proposal to clients
3. Share the Checklist with Client Decision-Makers to use when evaluating proposals from competing brokers.
- freely share PDF copies of the checklist with decision-makers in the organization who will be approached by agents, brokers and salespeople with proposals
- review common areas missed or overlooked in pursuit of quick discounts and flipping plans to new providers
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