If you have taken even a brief look at emergency planning, you know the slogan:
Build a kit. Be informed. Make a plan.
Well, folks, unless you think “It’s different this time,” the events of 2016, 2008, 2000 and on and on will repeat.
Shocks will hit the economy. Terrorists will strike again. Markets will dive. Your clients will panic.
A true prediction, right? The only thing missing is: when?
Which is why you need to make a plan. Or perhaps adopt the one I have developed and have taught my clients for nearly two decades.
If you are going to implement a hand-holding strategy, you need some letters and emails. I have created a “mini hand holding library” for you at www.billgoodmarketing.com/hand-holding.
Fire Drill Plan
Before we dive in, let me suggest: rip out this page or, if you are reading it on the thinkadvisor.com website, print it. Put it in your “Emergency File.”
Our strategy is: communicate repeatedly and often through the crisis. One email doesn’t do it. Here goes:
1) Save the hand-holding messages you downloaded. Make sure you also save the “Bill Good Copyright Permission” document. You will need that.
2) Decide which one to send first. Make any tweaks. Rewrite as necessary. These are your messages.
3) When alarming news hits, print a list of all clients with phone numbers.
4) Draft all staff and call every client. OK to leave messages.
Here is your script:
We know you are concerned about today’s news. [FA_Firstname] is working on a message for you now. As soon as we get it through compliance, you will see it in your inbox. Here is a key question. How often do you check email?
Daily: Good. Keep an eye out for it.
Not often: S/he will get a letter out just as soon as we get approval. But check your email every day, OK?
Just to let you know, we have a good plan. Ups and downs happen. In the next few days, we don’t want you to read or watch financial media. Be on the lookout for his/her email/letter.
5) While your team is pounding away, go to your hand-holding folder. Make sure the message you decided to send first is still the right one. Make any last minute tweaks. Submit the email and letter versions to compliance.
Why both? When you really want to make sure your clients get your message, send it on both email and snail mail channels. Get the email out the door first. And then do your best to get to the post office today with the letters. In most areas, a letter posted before 5:00 p.m. will be delivered in the same metro area tomorrow.
6) When all clients have been called, start calling prospects.
Here is a suggested script: