New Advisor Introduction Plan

The following document serves as a campaign-specific guideline for the introduction of a new Financial Services advisor to their credit union and its member community.

Introduction

Most credit unions incorporate a financial advisory program to their list of offerings looking to capture a larger share of deposits, enhance client service, and maintain member loyalty. The addition of an experienced and enthusiastic advisor can directly benefit the momentum of these directives.

When promoting your Financial Services Program, a strong line-up of brand identification, consumer education, and community involvement, can result in positive positioning, as well a potential increase in membership and overall assets. Effective, positive campaign materials, in combination with internal and external public relations in support of your financial advisory services, are recommended.

Internal Promotions

Before the execution of any campaign, the new advisor must “brand internally.” Clearly show support of your new representative, and the mission of your credit union’s Financial Services Program, from Senior Management. Management “introductions” of a new advisor should include internal communications as well as personal introductions to the front line staff.

CSR/Teller Engagement

Your Customer Service Representatives are your window to the member. Engaging them in the mission of the credit union’s Financial Services Program, and the benefits this program brings to members, is key to the success of your program.

Conduct an internal training session for your front line. This will not only provide an opportunity for the new advisor to build a relationship with your staff, it will empower them in identifying and making qualified referrals.

Secure a window of inclusion in the new teller training process. This will engage the new staff member at the onset, and create an awareness, and energy, regarding your advisory program.

Include your advisor in all staff meetings, allowing them to use that window for continued teller education, and relationship building.

Consider implementing an incentive program. Keep it entertaining, and/or competitive – your incentive program can be as simple as awarding a printed certificate of achievement or a monthly gift card for a local coffee shop, to a larger, monetary incentive awarded monthly, quarterly, or bi-annually. Keep your team abreast of the status each month. Let them know who is leading, who is trailing, and what types of referrals are most common. This will keep the staff engaged in the process, while helping them identify areas of strength as well as areas for improvement. Moreover, they will continue to have a strong awareness of the credit union’s Financial Services Program as they look to service each member.


Campaign Materials1

Continuous exposure to the mission, services, and community presence of the credit union, will position it as a strong, community-minded organization that has the highest quality services available. In the introduction of your newest Financial Services advisor, brand identification is an essential factor in generating new clientele while strengthening member loyalty. Overall, members must feel they are getting the highest quality and most options available for their personal and financial investment.

Suggested materials to create and utilize in the development of your new advisor introduction campaign include:

Displays/signage within your various branch offices

Don’t limit this to one market only. Building awareness of your growing Financial Services team will only strengthen your members’ belief in your program and possibly cause them to consider your credit union for their own portfolios, or result in a referral outside of your current membership.

Placement is critical – avoid burying your signage within a collection of other materials. Again, the addition of a Financial Services advisor will only strengthen your position within the minds of your current membership. Place introductory materials in easy-to-spot locations, such as:

Lobby tables

*Acrylic stands; Brochure, 8 ½ x 11 free-standing, Poster point of purchase display – only you can determine what will fit best in the space allotted at each branch location. Signage should be concise – announcing the arrival of your newest team member. Personalize with a headshot, and 4-6 bullets identifying the experience and/or benefits your new advsior brings to the member. Include a call to action such as, “Contact (name of representative)Today!”

Signage at Entry Ways/Vestibules

We suggest a larger, 81/2 x 11 or 11x17, flyer placed in your windows – please note that window displays and ATM signage have a captive audience for a brief period. Keep the content concise. Utilize larger images/font sizes.

Tip: When determining signage content – remember – less is more. Your ultimate goal is to get the member/potential member to CALL your advisor, not recite their biography. Announce their arrival, help them identify a need, and place a call to action/sense of urgency in their minds.

Novelties

Consider providing your front line with a series of lapel buttons that highlight your new addition to your credit union’s financial services. “Whaddaya say (advisor first name)?”, “Are you ready?” or “I didn’t know you did that!” – incorporate statements that will result in an inquiry from the member. Be sure to provide your front line with a few key responses (script) to help them feel more comfortable in these interactions, and drive the conversation to your Financial Services advisor.

* Website

Announce the arrival of your newest team members on the home page of your website. Provide a “one-click” access to your Financial Services area, with a feature that allows visitors to ask questions of your advisor/team directly, by linking them to a general information, or individual e-mail address. Ensure that the Financial Services program link remains a one-click access to visitors.

Tip: Consider contacting the Investor Connection team for a thorough review of your current site, its navigation features, and content to ensure you are presenting your products, features and benefits efficiently and effectively. Keep in mind that members recruited to your Financial Services program, with e-access to their advisor through the credit union web site, will receive multiple exposures to your additional products and services. It’s an opportunity for cross-selling with every log in.

* Direct Mail Letter to Members

Letter directed to each member of the credit union, introducing your new advisor and outlining their qualifications. Your introductory letter is a great opportunity to expand on the features and benefits of the Financial Services program at your credit union.

Direct mail card/letter to Qualified Non-Members

Take advantage of this opportunity to introduce your community to the Financial Services offering at your credit union. Utilize a mail-house to identify residents in your community that meet your ideal retirement planning demographic. As you announce your new advisor and outline their qualifications, you are introducing the features and benefits of your Financial Services program, and educating the community on the services available through your credit union.

* Referral cards at lobby tables (“Contact Me About…”)

Cards should allow the member/potential member to review and choose from a generalized list of interests, such as “how can I generate more retirement income?”, “I’d like to begin preparing for my retirement”, “I need to begin a strong investment foundation”, etc. Allow for write-in requests as well. Identify those inquiries that are a match for your specific Financial Services program. Cards should be designed for easy identification of qualified referrals, retrieval of contact information, and a clear and concise format for requesting information.

Reverse side of card may contain a business reply card (BRC) feature. The BRC feature will allow your guest to review and complete the card at their leisure, and will assist in database development.

Consider a tear-away feature where the member can keep the rep information while returning the postage paid “contact me about…” information inquiry card.

Referral cards should be placed at the base of each signage/display featuring the new advisor announcement.

*Subscription Cards (“Sign up for our Newsletter”)

Members are hungry for advice on an array of topics. Your advisors may be so busy addressing the needs of their current client-base; they won’t have time to develop fresh content for communications pieces every month, quarter, etc. Utilize a 3rd party vendor that allows you to customize member-focused newsletters to appear as though they were written by your in-house Financial Services advisor(s).

Providing subscription cards for this valuable information will allow you to gauge member interest, build your contact database, and continue to position your Financial Services advisor as a valued source of information and expertise for members.


*Statement Stuffers

An introductory piece, flyer or introductory letter, should accompany your member’s monthly statement.

Design the statement stuffer to work like a media fact sheet. Let your members know that the service they receive from your credit union, and the products available through your Financial Services advisor, are of the highest standards. Keep in mind that consumers tend to shy away from information-heavy pieces. Consider listing only highlights of your advisor’s applicable skills, a brief listing of products/services available through that advisor, and his/her contact information. Be sure to mention that the advisor is a welcome addition to your staff of experienced professionals and that his/her addition is a result of your ongoing effort to offer exceptional products and service, customized to the needs of each, individual member.

* Print Ad

Print ads are an effective resource for creating a brand identity, while educating and informing consumers. Print ads, similar to fact sheets/statement stuffers, should increase consumer awareness.

The ad should emphasize three key points:

1. Your credit union is local

2. Your credit union’s Financial Services Program offers products and customized, personalized services

3. Your credit union is proud to announce their newest addition/ growing team of experts/expanding Financial Services offerings

Ads should be placed in local newspaper (ideally in business section, or births/obituaries area – the highest read sections by retirement services demographic.) Consider ad placement or announcements in various faith-based community publications as well. Worship centers often offer advertising opportunities through newsletters, bulletins, etc.

Ads should run one day, for a period of three weeks. Two weeks on, one week off, one week on. Frequency is key to consumer recall. This pattern will allow for multiple viewings. Positioning the bi-week in the 3rd week allows you to spread out the life of your media buy, while avoiding a lapse in recall. More often, they will not know a week was omitted.

Press Release

Be sure to provide an announcement regarding your addition of a new Financial Services advisor to your local media.

Tip: Look to identify any unique attributes your new advisor may bring to the table. Are they involved in any community groups, fraternal organizations, etc.? Cater your placements throughout the year to include publications that address their community ties; such as local sports activities programs, faith-based publications, women’s groups, Optimist, Kiwanis, etc.

Special Events

The ultimate goal of promotional events is to build awareness, and generate interest among your surrounding communities as well as your current membership. Be creative – events are not limited to those outlined below. Keep all activities focused on providing personalized, professional, offerings that these individuals will not have access to outside of your credit union.

§ Welcome Reception

Internal: Position as formal, corporate-sponsored gathering where credit union management and staff (from all branches, when applicable) are invited to meet your new advisor. This is a good opportunity to relay the collaborative and cooperative nature of your Financial Services.

External: Coordinate an open house at a specified branch location. Open to all members, inviting them to meet your new advisor. Engage all Financial Services Representatives (where applicable) in this event. Relay the collaborative and cooperative nature of the Financial Services structure, and emphasize your commitment to providing professional and personalized services to each credit union member.

§ “Meet the Specialists for Coffee”

Position as an informal, relaxed, gathering where guests are invited to ask general questions of the specialist (a.k.a., new advisor) Invitation only event with an RSVP required – branch specific. Consider sending invitations to targeted members within a demographic (i.e., all members age 45-60 residing within a specific target market.) Consider hand-addressed (“wedding style”) invitations – they will imply that the advisor specifically selected that individual and that being considered for this event is an exclusive opportunity.

Come prepared with a list of topics to stimulate conversation in the event guests are not participating. Encourage dialogue and engage them.

§ Begin Seminar Series*

Promote internally with various signage and statement stuffers. Through targeted direct mail (males/females, 45-65, residing within a 10 mile radius of the identified branch, or print advertising, open these sessions to the community.

Consider print advertising in addition to direct mail when promoting your seminar series.

At each event’s closure, have appointment cards at the ready for guests to complete. The rep can follow up with each individual, and use the response cards to build their database. Identify ideal fits for your program/services and foster those relationships with handwritten thank you notes. Consider sending a gift to “ideals” – such as coffee mugs and coffee, with the program brand – accompanied with a personal note from the advisor either thanking them for attending or inviting them for coffee, etc.

Additional, low-cost PR techniques to consider:

Have your advisor…

- Write a letter to the editor of a local newspaper regarding personalization of retirement planning

- Call a local radio program and volunteer to be a guest speaker on issues regarding retirement planning or long term care

- Become a contributing author for articles related to Financial Services or retirement planning. Author an article for your CU member communication, web site, and alter them to meet the format of various, area publications. Focus on community shopper stoppers/papers and local business publications. They are often eager to hear from area experts, and welcome the editorial content.

These contributions will position your Financial Services advisor(s) as local area expert(s) in the field.

Networking

Never underestimate the power of networking! Identify networking opportunities through local business groups, your Chamber of Commerce, or your members. The best way to position yourself within your community is to participate in organizations that contribute to betterment of that community.

We recommend that all campaign materials work together to inform existing and potential members of the following:

§ Your credit union’s exceptional, personalized, service