The FeeOnlyNetwork.com: A Bid to Build Visibility for Fee-Only Advisors

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That’s the goal of NAPFA (National Association of Personal Financial Advisors) with the recent launch of the FeeOnlyNetwork.com for its more than 1,500 Fee-Only member advisors across the country. A parallel goal is to build the NAPFA brand and promote the benefits of working with NAPFA-registered investment advisors (RIAs) for comprehensive financial planning and fee-only compensation.

This comes as Fee-Only Registered Investment Advisors (RIA) have surged and changed the way Americans invest.  This in a climate where investors are more risk adverse, want to be involved in the investment process and, for all generations, increasingly use the web to “self-sell” before engaging.  Having a strong web presence  — including a dynamic web marketing hub, social media significance, thought leadership content and digital marketing programs — is not an option, but an imperative for advisors to be relevant and competitive today.

With FeeOnlyNetwork.com, Individual NAPFA members receive a free, search optimized profile and those who wish to pony up $250, receive a more sophisticated profile with more content, enhanced optimization and linking features. The value proposition seems solid: members can piggyback on the broader branding effort around “Fee Only” with NAPFA and generate leads and SEO value at a reasonable cost per year.

There are a number of things for members to consider in maximizing the value and effectiveness of their profiles. (See FeeOnlyNetwork mockup)

    • Differentiate the message beyond “Fee-Only”
      Use the bulleted specialties adjacent to photo and paragraph beneath it, to provide more depth and breadth surrounding resources and investment options offered, akin to what you might get from a broker dealer.
    • Choose messaging carefully
      Avoid “generic” messages like “specializes in financial planning and investment management”; be more sophisticated.
    • Align Profiles & Links
      Make sure your profiles line up across all your channels – LinkedIn, Website, Facebook, Twitter, FeeOnlyNetwork, etc. – including key words, messaging and positioning.
    • Include Links 
 Make sure all your publicly available links are reflected on the profile and picked up by FeeOnlyNetwork.
  • Complete all of the Profile Features
    This includes links to all of your social media profiles, recent articles, media mentions, welcome video and the like.  If you have more than one location, be sure to include it as well.  Also complete the company profile tab.  There will be an ability to cross-link with other NAPFA members in your company.
  • Show Bench Strength:
    The network is very “planner” and individual based rather than the firm… some investors may want to see that they can engage a firm with a broader set of expertise and specializations within the firm.  This can be done with the company profile tab, but perhaps you can influence the site’s positioning if you want to highlight both you and your company more strongly.
  • Generate Leads:
    Currently, the “Contact Me” button generates an email, however there are plans to enable a form.  Be on the look out and perhaps influence its development.  For example if it were a “Learn More” link instead of “Contact Me”, that could lead to a landing page on your website where they can further “opt-in” to learning without feeling the need to email you right away. Many “buyers” want to self-sell and learn about you (and others) without converting immediately to an email or meeting.

NAPFA says it has made a significant investment and allocated considerable resources to the FeeOnlyNetwork.com, a partnership with Advisorology, LLC, the parent company of the FeeOnlyNetwork.com and FinancialAdviceNetwork.com.  The partnership promises to continue to enhance the FeeOnlyNetwork.com.  Members would do well to actively participate in its evolution.

 

Thérèse Byrne is a Client Partner & Digital Strategist with Revenue Architects specializing in helping clients take advantage of modern marketing approaches to projects from the vantage of creative, innovative and agile solutions to growth. She works with a number offinancial advisor clients developing strategies and implementing compliant marketing solutions enabled by technology and inbound marketing.

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Marketing Automation: Selecting the Right Solution

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So, you’ve realized that you need Marketing Automation! What now?

With a variety of different solutions available – from enterprise to start up – how do you know which solution is right for your organization? Marketing Automation evaluations typically involve both a diverse stakeholder team and a myriad of potential solutions.

  • Diverse choice – many marketing automation suppliers, sales force automation solutions, eMail marketing solutions, etc.
  • Committee buying – the need to facilitate a group of stakeholders in the decision (often including the board of directors)
  • Stakeholder viewpoints –managing a variety of needs (tactical vs. strategic) to align sales, marketing and technology teams
  • Political persuasions – more often than not, key team members bring pet projects and pre-established preferences
  • Organizational culture –implementing a marketing automation solution involves business alignment across the organization – the culture must be supportive and aligned to adopt the new strategy.

We recently published this eBook to serve as a guide to provide you with the information you will need to assess marketing automation vendors and choose which solution is right for you.  Our view? The process should be objective and facilitative to align the organization around a clear choice. Need help? We can help you facilitate the process with our Objective Solution Selection (OS2) methodology:

  1. Document Requirements
  2. Determine the short list
  3. Conduct the evaluation
  4. Rank the vendors
  5. Perform due diligence
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Offer MQLs to Sales as "Decision Support"

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Often sales people do not actively follow up on marketing generated leads. This may be a result of poor sales behaviors, but it is more likely that sales teams are not confident in the quality of the sales leads they are getting. Marketing Automation is a powerful technology, but it is important not to “over automate” the classification of the lead.

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10 Measures to Justify Marketing Automation

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Marketing automation isn’t just about efficiency; it’s a powerful tool for driving revenue growth. While there are numerous operational benefits, the ultimate goal is to increase your bottom line. Here are some ways marketing automation platforms – along with your campaigns and programs –  can boost revenue performance:

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Everything's Going Mobile…End of Story

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We were fortunate to escape the confines of the office in order to attend a NEDMA (New England Digital Media Association) Conference at the Boston Common Hotel and Conference Center.  From the moment we walked up to the second floor, we were immediately submerged in innovative ideas and new data that will help shape future marketing campaigns.

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Considerations in Newsletter Publishing

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It is not new news that a newsletter can help to strengthen your relationships with clients and to draw in potential new clients.  Small and medium sized business owners that we work with are publishing issues on a weekly, monthly, or quarterly basis. The format, time frame, and content will depend on budget and  priorities, but we recommend a level that you can maintain easily with your capacity and resources. While more publishing and corresponding social media engagement can increase the level of activity on your website, it is pointless to over-commit and detract from your brand identity.

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Get Revenized

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This article was posted on www.revenizer.com. Revenizer is an affiliate business to Revenue Architects focused on building useful business applications that support revenue acceleration.

Revenue growth requires focus.

Today, there are almost unlimited sources of data and opportunities to invest time in complex analysis. For most businesses, analysis can suck in time but have little business impact. Is an hour spent by a business owner exploring Google Analytics to uncover that she has a customer in Russia useful? Does using a social analytics package to discover that 60% of users are female (based on an algorithm that analyses names) drive a business forward. Probably not.

The Bugatti Veyron is a $2.4 million piece of technology. It can reach 253 miles per hour. There is no shortage of data that could be presented to the driver. There is only one thing that matters given that the objective is to accelerate as fast as possible. Engine revs – because this metric is the leading indicator for speed and also communicates engine damage risk potential. The rev counter is the center gauge on the console. In an environment where time and attention is limited, this is the driver’s main focus.

Businesses need to have the same laser focus on leading indicators. Social media may not directly create leads but it shows an ability to create community around an idea. The essence of a brand. Web traffic means nothing unless it converts but generally increasing traffic will lead to good things.

The big lesson – metrics are about communication not analysis. Communication makes people accountable, gives direction and motivates. The rev counter in the Bugatti makes the driver accountable for engine damage, tells her when to change gear and gives her a clear target range. This focus means 0 to 210 miles per hour in 27 seconds.

Are you focused on a few leading indicators that matter and motivate?

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Launching the Revenizer!

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The recently published CMO survey (link:  https://www.cmosurvey.org/blog/marketing-metrics-what-cmos-report/ ) is quite timely for our team at Revenue Architects. The survey indicates both the growing importance of key revenue metrics and the relatively poor and inconsistent adoption of the right metrics as indicators of revenue performance. While no two businesses are exactly alike, there are a number of key metrics that are leading indicators of future revenue performance.

Last week Revenizer was formed as a new company to deliver a performance-oriented revenue scorecard and collaborative tool for executives. Revenue Architects’ Phil Rogers and our colleague, Satish Boppana, and I formed Revenizer to build and deliver a new generation revenue performance scoreboard and collaborative platform. Betaspring in Providence, RI is backing the project with their industry leading accelerator program.

The vision is to help revenue executives create a growth and revenue culture.

As we talk about all the time at Revenue Architects, sales, marketing and service must work together in a more joined-up and collaborative process for revenue. The days of separate and non-aligned sales and marketing organizations are giving way to a more unified revenue value chain. The disruptive forces of digital and inbound marketing and social media in the buy-sell process is accelerating this trend.

Revenizer will integrate leading web apps from social to CRM to give business leaders one place to go for the key revenue indicators needed to manage performance. It will also provide best practices and expert and user collaborative content to guide teams on revenue performance improvement strategies. With Revenizer, a business can better execute its revenue strategy with greater transparency, focus, organization and knowledge  – accelerating revenue growth.

If you want to join the beta team of users and help shape this exciting solution, please contact us!

 

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Please Don't "Set it and Forget it!"

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Trigger-based emails, rules-based emails, real-time emails, or auto-responder emails are great tools for today’s marketers. Regardless of what you call it, these are the emails we receive as customers after doing something or buying something. We get order confirmations, email reminders, survey invitations, e-newsletter subscriptions and product cross-sell promotions. As an online customers , my inbox is bombarded. Some of them are relevant and timely and catch my attention, others I ignore and then eventually unsubscribe.

A “promise” of trigger-based emails is that you can “set it and forget it.” However, there are several variables in email marketing that can always be tested and optimized. Some examples are the subject line, preheaders, design, layout, copy, calls to action, timing, message/offer, etc. Given this, how can a trigger-based campaign be truly set and forgotten about?

I think some companies have forgotten about me. At some point, ignoring emails leads to annoyance and opt-outs. We have advised clients to look at bounces, open rates, and click-through rates to develop rules to purge non-responders, or move them to a campaign with fewer communications. While trigger-based emails are automated, they require the human brain to set them up for success. The last thing businesses need, especially in B2B, is customer fatigue and  a shrinking opt-in email list they worked so hard to develop.

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Leveling the Playing Field (Again)

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The arrival of ecommerce and other web technologies created a lot of talk about the leveling of the playing field between small / mid-sized businesses and large business. For a while, there was some truth to this. Today, scale and size are back in town. Big and well resourced firms can again spend their way to success supporting multi-channel, content-driven campaigns.

Channels

What started with a web site with some site analytics then advertising is now video, Facebook, Twitter, email, etc, etc, etc. Each channel has its own subtleties and each are rapidly evolving as all the players try to own the future. For the average small or mid-sized business – life in the fast lane is tough. Dizzying is probably the right word.

Content

Participating is a start but you are only really going to engage your target audience if you have some interesting to say. Not sure how many thought leaders there are in your business but inspiration is sometimes tough to find. Making sure the invoice goes out right gets the priority. Even collecting and distributing other people’s creative genius is hard work. How much credit do you really get for retweeting?

Support technology

This is a lot to manage. Staying on top of marketing automation, web analytics and social media monitoring tools etc, etc, etc is tough. Startups with great tools keep turning up but they are often focused on making their money by working with big companies so good luck getting a reply to your email. Otherwise, they are so busy developing their product that they don’t have time to actually sell it. So again, good luck getting a reply to your email. You can try signing up for a trial. Unfortunately, most providers have not taken the lessons of companies like 37 Signals. The monthly fee might be small but you have to donate half of one person’s week to figure out how to make it work. Multiple that by X for every platform that you want / need to try.

So…. What to do?

Don’t give up

Stay involved. Things will improve. Applications will get simpler. New solutions will emerge. Stake your claim on every new thing so you don’t have to come up with some convoluted user name / handle in the future.

Campaign in a box

A campaign in a box is coming. The obvious market opportunity is to wrap services around some good low cost technology applications to give small and mid-sized businesses what they need to compete. No learning curve, help with content and social media management in partnership with your existing team. More to come from us on this. We think that it is time to level the playing field (again).

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