Let's call it Digital Career Marketing!
Published: August 07 2014
I’ve discovered that a big problem with a lot of things in this modern world is - you don’t know what you don’t know! Technology has not made the situation any clearer, in fact most of what I don’t know - I don’t know - is because of the rapidly expanding universe of technological advancement. I could go on, but either you have felt this or you have attained enlightenment and are beyond the scope of this article! Here is something that may be new to most of us normal people! Lead nurturing is one of the most valuable tools you can implement when trying to land Top Financial Advisor talent! “I did not know that” - you say! This is because hardly anyone is using this technique in Recruitment, but chances are that you have been nurtured on the product side and even there it remains a secret weapon of the masters of marketing (Amazon comes to mind, but just type “Lead Nurturing Case Studies” into Google and you will have 1.68 million articles you can read on the subject). But on the Human Resources/Recruiting side, Lead Nurturing hasn’t been implemented properly by more than just a few organizations. Therein opportunity lies! Curious? It is perhaps easiest to understand Lead Nurturing in the context of dating! How effective is a strategy to attract a partner that starts with “Will you marry me?” I suppose that this approach might work occasionally - I wouldn’t base my recruiting strategy on this premise – BUT MANY COMPANIES DO JUST THAT! When the basic call to action for Candidates is “Apply Now”, isn’t this the equivalent of saying something like…. “Well you don’t know me very well, because … how could you? I’ve only written 3 paragraphs about myself and most of that was what I expected you to know or do. But nevertheless, you must be desperate, so go ahead and click that Apply Now button!” In other words, why don’t you make a really important career/life decision with almost nothing to go on! Do you really even want someone who would make such a cavalier decision about something so important? Lead Nurturing is the polar opposite of this. To illustrate, let’s go back to our example of Looking for Mr. or Ms. Right – traditionally courting required some gifts; flowers, candy, jewelry, dinners, drinks, movies, popcorn and so on. Of course, you must always be on your best behavior and not talk about yourself all the time! (Your mother also says to wash your ears, open the door for a lady, and BE YOURSELF!) In recruiting, we forget these lessons all the time! We don’t give the Candidates squat….we don’t do anything at all for those Candidates who fail to fall for our Apply Now traps. Instead we spend our time diligently weeding out the bad Candidates who DO Apply (not bothering to tell them that they don’t qualify and why) and wondering why finding good FA Candidates is so hard. And in the face of dismal results, we vow to do the same thing, but more of it - more postings, more traffic, more search arguments! Enter Lead Nurturing So if you followed the dating analogy, you already know what to do… Give Candidates some “gifts. Tiffany jewelry might work, but I’m actually referring to something of Value to a Financial Advisor. This could be something that you already have in your possession (I am talking about digital materials, mostly. Whitepapers, videos, links and so on. Physical materials can also be used; like direct mail pieces) It is sad how some of this good stuff seems to just lie on the HR library shelves at some firms, but just doesn’t seem to be able to get into the right hands. Here are some examples of things of value:
- Practice Management Tips and Techniques
- Portfolio Management Tips and Techniques
- Research Samples
And as you progress and begin to build a “relationship” you can provide information about:
- Your firm’s Culture
- Benefits of working for you
- Branch Office Profile
- And finally, pop the question - APPLY NOW?
Do this and do it properly and I think you will be amazed when, in time, the Quality of FA Candidates who are applying to your firm explodes through the roof (read some of the case studies)! What now Yoda? Now you are saying, yes, this makes sense, but how do you do and not just try? This is where technology has come in to make things both easier and more complicated – all at the same time - (as only technology can do)! But let me make it more simple for you than that – you don’t need to know HOW all this works – after all do you really care about how your car’s transmission works? It just gets you from Point A to Point B. Capabilities exist – (this is where an unabashed plug for BROKERHUNTER inevitably comes in) - to Nurture Financial Advisors (this sometimes used to be called a Drip Campaign) at the Branch Office (and higher) level! We can help Branch Offices of Broker/Dealers and RIA firms make it happen. Sound complicated and expensive? We have built in a basic capability for FREE with our new BranchPac and AdvisorPac products and can tailor and expand a campaign just for you. We can implement this base plan with minimal effort on your part - we know how busy you are! All you have to do is talk to us, let us learn more about what you are trying to accomplish. Drop us an email at email@example.com or click here to schedule 15 minutes to learn more about how your firm or office can leap to the leading edge of FA Recruiting and we promise to buy you some Popcorn!
Put yourself in the shoes of a Top Financial Advisor for a moment – here are some things that you realize about yourself:
- You have worked hard to become successful in a job that not just anyone can do!
- You know that there is an actual shortage of experienced, successful FAs.
- You have built a business that is coveted by many
- Your book of business is worth a lot to you and to Firms.
- There is no shortage of Broker/Dealer firms, Branch Offices or RIAs who would hire you in a New York Minute.
- If you are going to ever change firms, you are going to absolutely do it in an orderly fashion to minimize client discomfort and fall out.
- You have heard horror stories about Producers being fired (for whatever reason) and the Branch going after the clients in their book, while they are trying to move to a new Firm.
- Because of number 6 and 7 – you are incredibly discrete in any overtures you may make toward other Firms.
- You have a short list of Firms that you would CONSIDER working for.
- You have a list of Firms that you would NEVER CONSIDER working for.
- You want to discretely keep abreast of what is going on in the market for Top Financial Advisors like yourself – so you read trade publications and visit Job Boards (like BROKERHUNTER), to see who is hiring in your area, what they are saying about themselves and what they may be offering.
- You wish there were more ways where you could stealthily learn more about what is out there without “outing” yourself.
For these 12 Reasons and more – Post and Pray is no longer (if it ever were) a viable strategy when it comes to hiring Top Financial Advisor players! Take a moment and refer to one of our previous posts - “The Most Important Thing You Don’t Know – You Don’t Know - (About Recruiting Financial Advisors)!” and learn more about something that DOES work – because it addresses the issues that are important to the best Financial Advisor talent. Stay tuned for more on how we can create a complete and comprehensive Recruiting Campaign for you and make you look like a genius!
If Recruiting is not an Option, maybe you should take a few minutes to read this! If you read my 2 previous posts, here and here - (and I wish you would), then you know that there needs to be another angle when attempting to recruit Top Financial Advisors. You can either:
- Accept that a BROKERHUNTER subscription package that gives us (yes, us - because we are in this with you and will help you every step of the way) all of the basic tools we need to accomplish your mission. This is put together in one tidy, affordable bundle design specifically for securities industry Branch Offices. So .... you should just call us up and let’s wrap up any details and answer any questions and get on with your Campaign!
- Or you may fit into this category: you know who you are, those that are from Missouri – either actually (like me) or in spirit, i.e. “SHOW ME”! It is for you natural born skeptics that I’m offering some details about our annual BranchPac package for securities Branch Offices who are looking for Financial Advisors or RIAs. You can click here for an expanded explanation of each bullet point, but here is what is included in a BranchPac for your area:
- Unlimited Job Postings
- Automated and Unlimited Resume Search
- Lead Nurturing Emails
- Database of all FINRA Registrants
- Social Media Promotion
- Training at BROKERHUNTER University
- Complete Support and Service
In other words, if there is a War for Talent, then you must fight on all fronts! This is why we created this product for you. But here is the best part:
We know how busy you are – you tell us this all the time! So …we do as much of this for you as we can!
What do I mean?
- Starting with the Job Postings – we have a professional copywriter on staff who will either critique your existing Posting, edit it or write a new one for you as part of our service.
- Resume Search is automated so you only get pre-qualified Resumes in your email as soon as the Candidate registers on our site.
- We have created a 3-part Candidate Lead Nurturing email sequence that will be automatically setup and implemented to touch Candidates multiple times on your behalf. We can help you write and set up additional emails in a sequence to Nurture your universe (at a very reasonable additional cost to you)
- The FINRA list is worth the price of the BranchPac by itself. Get a list of everyone with a Series 7 in your area and implement a Direct Mail Campaign, for example. (We can help with this too).
- Social Media Promotion – In particular, LinkedIn – where we own Financial Services Groups with over 100,000 members. A perfect place and audience where we will share your job openings and help you start a dialogue with potential Candidates. Take it from a Missourian who has seen the light – it is powerful!
- BROKERHUNTER University – you may be too busy to attend, but you can probably delegate! Educate your group (and I recommend yourself) on the fine points and art of recruiting FAs. This 12-part series is targeted at recruiting FAs and is taught by Peter Weddle, who is – trust me on this - one of the most qualified people I know to teach this topic! It will be time well-spent!
And just know this – the BranchPac is scalable for those with multiple offices – (we just gave it another name – AdvisorPac!) The next step is to contact us. We don’t bite, twist arms or insult you if you don’t buy! We are actually very nice and friendly! Call: 888-955-6795 x202 or 203 or email firstname.lastname@example.org. If you prefer, just select a time from our calendar for a 15-minute conversation about what you are trying to accomplish to determine if there is a fit. (If you will call us - be sure to ask us about auditing Session 3 of BROKERHUNTER University on July 10 no charge, no obligation) -
- Session 3: Recruitment Advertising – 7/10/2014 – Writing Job Postings Top FA Talent Will Notice - by Peter Weddle
- Includes one or more templates
- This session will provide the key principles and best practices for writing and formatting job postings to ensure they both differentiate a financial service company’s value proposition as an employer and persuade even the most passive of top financial advisors to explore and ultimately accept its career advancement opportunities.
It's not too late to register for this Session contact email@example.com Digital Career Marketing Employers need to implement more effective Digital Career Marketing. We define Digital Career Marketing as a strategy that uses the latest technical capabilities to market a firm’s Career brand to the most targeted audience possible. It is recognition that an employer must Market their firm and opportunities to attract the most desirable job Candidates. We believe that a job board must recognize that the job posting is just one spoke on the Marketing wheel that must include adequate exposure to the target group, rational and progressive calls-to-action, alternative media exposure and lead nurturing techniques. Here is some background: Since the FA is reluctant to apply to any job posting, a firm must offer them alternatives to “Apply Now”. Generally speaking, the FA candidates who apply for jobs are not the highest quality. Firms are looking for experienced FAs, with proper and current registrations and, ideally, a book of business/proven track record, clean compliance record. To attract the right Candidates in the Financial Services space, employers should move to adopt a more FA friendly approach – and this is where building a Community - where their important collateral is available for only the price of a (sometimes anonymous) email address. There are many details that can be discussed about how this could implemented for Enterprise level Firms with BH being the provider of the services required. Here are just a few: We currently maintain a behavioral database of candidates who show interest in a particular firm, (by clicking on a job posting or firm page on BH). This information is coupled with the demographic data we have for the user and can be used to send specialized Lead Nurturing communications via Marketo: emails primarily, but a campaign can be augmented with direct mail, telemarketing, webinars, roadshows/events and so on. Most HR Functions at even the largest and most progressive Financial Services employers are behind the digital marketing curve when it comes to creating a complete Campaign to target FA talent and we feel that we are in a great position to help them learn about and implement better strategies, for a fee. These Enterprise/AdvisorPac campaigns, start with Job Postings on BH, LinkedIn BH Group participation, Events – Webinar, Virtual Career Fair, Email Nurturing and other digital and non-digital marketing tactics to reach the target audience. Stay tuned for much more about this idea in subsequent posts!