It may seem counterintuitive, but creating a regular meeting to bring together a team may help reduce the time you spend coordinating marketing efforts. For one thing, a weekly meeting can avoid the possibility of duplicate work.
By this point in February, most people have stepped aside from the aspirational goals they set for the New Year. Gym machines are less busy and the produce isle at the grocery store seems less full. But resolutions around business usually do not. For many advisors, increasing their marketing efforts made it into their goals for 2025. It can be difficult to carry through on this goal. The key may be to find ways to maximize efficiency when it comes to marketing.
The path to business efficiency always starts with delegating. As we said when discussing prospect research, the keys to effective marketing delegation are both finding the right person, as well as pointing them in the right direction.[1]Leadership experts suggest that three elements of delegation are explanation, authorization, and accountability. That means when delegating a task, the manager should explain the task in detail including the who, what, where and why, as well as provide them the authority to do the actions needed to perform the task. And, importantly, continue to check in on the task to ensure deliverables are completed on time. [2] Checking in on staff does not need to occur daily. Instead, a weekly meeting to review processes could be sufficient. That can help avoid the impulse to micromanage.
Many managers shy away from delegating as they do not always know where to start. One group suggested creating a list of categories as a fall back when starting. When it comes to marketing, that can include paperwork details of marketing, appointment scheduling and confirming, and bookkeeping details.
In addition to delegating repetitive, simple aspects of marketing, another place to look to improve efficiency can be to remove roadblocks in marketing workflow. Finding these roadblocks does not need to be an overwhelming task. Instead, it can be as simple as asking staff to recommend processes they think could be simplified. There may be outdated office machines or software causing office workarounds that slow down marketing details. It may be time to break up with the office printer you have had for decades.
It may seem counterintuitive, but creating a regular meeting to bring together a team may help reduce the time you spend coordinating marketing efforts. For one thing, a weekly meeting can avoid the possibility of duplicate work. It can also provide time to check in on the progress of delegated tasks. A weekly meeting can also provide time for staff to propose workflow improvement, instead of managing those suggestions piecemeal.
Some advisors find that reorganizing their offices have also increased efficiency. Some efficiency experts suggest changing the layout of an office for increased workflow and decreased distractions. “The key to optimizing working space is understanding how your staff interacts with their environment and leveraging technology.”[3] This can include moving file storage or commonly used equipment. A new office set up should consider ways to “support a variety of work modes, from deep focus to collaborative projects and remote work.”[4] That reorganization can also be a time to evaluate office machines and label commonly used files and supplies. [5]
[1] https://www.bcgbenefits.com/blog/prospecting
[2] https://www.rightpath.com/3-keys-effective-delegation
[3] https://www.deskbird.com/blog/office-space-optimization
[4] https://www.deskbird.com/blog/office-space-optimization
These articles are prepared for general purposes and are not intended to provide advice or encourage specific behavior. Before taking any action, Advisors and Plan Sponsors should consult with their compliance, finance and legal teams.
Before leaping into the unknown, we recommend a thorough examination of your plan. Because we are experts in the field, we know the marketplace and know what your existing vendor is capable of offering. Through this examination, we can help you optimize the service you receive.
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