In order to quickly generate benchmarking data to use in any lead-generating activity or an initial prospect meeting, you can create a demo group for yourself and use it over and over again with any plan design attached.
Step 1. - Create a Group with a generic group name like "Prospect 1" and Group Status "Prospective"
Step 2. - Generate Benefits Basic Comparison and Benefits Basic Ranking Reports
For additional help please review "How to Generate Benchmarking for a Virgin Group?"
These reports will have a blank or N/A left-hand side and no primary color-coding on the right-hand side however the data will all be there for you to act on.
Let's review two strategies:
- run "blank" benchmarking reports to learn insights about benefit trends or norms within a certain industry, region or group size that you are targetting. Reference data points in marketing material such as brochures, by phone, by email or social media posts! Remember to hashtag #poweredbyCloudAdvisors and tag @CloudAdvisorsCA so we can give you a ReTweet and Like!
Initial Prospect Meeting
- Search for your prospect group and generate the benefits basic comparison report. This report shows you benefits included versus not included. If the group has a plan they will likely begin to share what benefits they have included already as well as being to take note of some interesting insights they hadn't considered such as new benefits or asking for more information. This is your opportunity to offer a custom evaluation of their plan, all you need is the plan booklets. But wait, there's more!
- Generate a Benefits Basic Ranking report! As opposed to included or not included, this report shows a simple summary of how various benefits by line rank in the comparison group. Prospect groups should begin to wonder where they stack up or perhaps other details that aren't revealed on the basic ranking.
- The next step is to ask for their plan booklets so you can run these reports with their data but also include a full detailed comprehensive report.
Next Steps...with Booklets in Hand
Once you've got a prospect's benefit plan information you can create them as a prospective client using their name in CloudAdvisors. Now is the time to not only enter their plan design information but also any pertinent details you learn during each meeting, including starting a basic governance listing.
You can then return for a follow-up meeting, reports in hand (or on-screen, after all, it's Time to Tablet!) and with unique and supported insights as a valuable offering to your new prospect.
- Offering to go through benchmarking, as if they were a client, is a great way to demonstrate part of your value proposition as an advisor, your expertise in how you interpret data, ask questions and would ultimately advise them if appointed.
You're now on a path to earning the appointment with a new prospect, all from differentiating yourself with benchmarking and advising with insight!
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