Happy New Year and thank you for reading Uncovered UK during 2011.
Scottish Provident’s Next Level Tour marketing campaign, starring Duncan Bannatyne was one of the most exciting projects I have been involved in. Over 800 advisers attended the 4 events and of those that filled in the post event survey, 95% rated the sessions as either “Excellent” or “Very Good”.
Bannatyne obviously couldn’t tell advisers how to give advice, that clearly wasn’t the point of the roadshow. But his insights into marketing, communications and business development obviously struck a chord with the audience. Here are some of the messages I came away with.
1) Market your business within the local community.
This is not just about advertising in local newspapers, it’s developing PR relationships with those newspapers. Getting onto local radio. Sponsoring events in local schools and clubs. And above all embracing social media to create a network of links across Twitter, Facebook and Linkedin to draw visitors to your website.
Just getting ready to speak at the Scottish Provident event at Intercontinental Hotel
— Duncan Bannatyne (@DuncanBannatyne) November 28, 2011
2) Seeking business development opportunities from legislative changes.
When Margaret Thatcher changed legislation for the care of the elderly in the 1980s, Bannatyne cashed in on this opportunity by developing a chain of care homes. In 2012 we will see more legislative changes in financial services than we have ever done before. RDR of course with its radical change to the way advice is given and paid for. The gender directive, changes to life company taxation (I-E), and Solvency II will put upward pressure on the price of protection products.
On the whole the media tend to focus on the negatives of these changes. But what are the opportunities? Perhaps gender neutral pricing will make us look for other ways to create value based upon different factors. And the price increase, after a decade of falling prices, is not going to make the products any less or more affordable than they are now. The key problem will still be overcoming people’s objection to buying protection – and that’s a communication problem not one of affordability.
3) Relentlessly network for new ideas and opportunites.
Either online or face to face our industry colleagues, and again those in the local community all face similar challenges but all will have different views and solutions as to how to solve them. Again through social media we have access to a world wide club of like minded people, and a library of ideas, and business tools.
Here’s what some of the attendees tweeted about the Next Level Tour.
Had a great nite met @DuncanBannatyne what a inspirational gent and many thanks for the free book #NextLevelTour
— Craig Gilks (@craigbeauwater) November 28, 2011
Just got home after an inspiring talk by @DuncanBannatyne. A true legend! Thanks @Roger_Edwards and #ScottishProvident #TheNextLevelTour.
— Tim Brookes (@Timo_Brookes) November 29, 2011
Over to you: Please tell us what you are going to do to take your business to The Next Level in 2012, using the comments box. Or Tweet using the button below.