Branding Guidebook - CUNA Mutual Group

Branding GuidebookA step-by-step guide on how to mapyour brand to your marketing plan

Extending the branding commitmentbeyond the basics and into tangibletools and resourcesDear Financial Advisor,Congratulations! Now that you have completed the initial branding training and have learned the exercise of analyzing and definingyour business brand, you have differentiated yourself from the vast majority of your competition. To quote Donnie Deutsch, hostof the hit CNBC show The Big Idea and author of a marketing book of the same title, “Branding is all about discovering and stayingconsistent to a core value. Find your brand, perfect it, and stay true to it,” (Success Magazine, December 2008).You have taken the first step —finding your brand. Now we want to help you expand your brand thinking to focus your retirementpractice on strategic, tactical actions that will help you put your brand into action.In this branding guidebook, we will ask you to think like a business owner while you work “on” your business vs. “in” your business.We will build upon what you already learned in the previous coaching sessions. What makes you better than others in yourbusiness? What do people get when they get you? We will provide you with the tools to communicate your brand at everytouchpoint. We’ll help you build your brand equity.Brand equity is the end result of perfecting your brand. Right now your brand is an idea, a concept waiting to be put into actionor it’s place and simply needs to be enhanced. How do you extend your brand beyond its current status? Based on our work withsome of the best advisors in the country, we’ve identified a set of key fundamentals that do just that. Be prepared to learn howsome of the best in the business build brand equity.Next, you will learn to utilize brand audits to identify gaps. On the tactical side, we’ve designed some strategic tools to assist youin the identification of any brand gaps or areas for improvement. And finally, you know the old saying, “It’s not a plan until it’s inwriting.” Brand auditing and brand mapping are both useful tools whether you are just starting your personal brand quest or feelyou already possess a defined brand. More importantly, these tools will aid you in perfecting your brand, monitoring its development,and staying true to it.So when you complete this guide, you’ll have a well thought out branding game plan and the tools and resources to accomplish it.Good luck, and remember, your partners at CPI Qualified Plan Consultants, Inc. are with you all the way.Sincerely,Gary A. Weuve, CLU, ChFC, RFC ® , CRPC ® , CFP ®Registered Corporate CoachThe Center for Advisor ExcellenceProvided by CPI Qualified Plan Consultants, Inc.Your business … POWERed by CPI.Table of ContentsGrand Re-Opening with Existing Clients........3Spreading the Word.......................................... 4Growing Your Brand Equity............................. 5Test Your Readiness.......................................... 62

Grand Re-Openingwith Existing ClientsHow are you viewed by the outside world? What do people say about you? Now that you’ve done a few of the basic brand buildingexercises, 1 does what your current clients, networking outlets, plan sponsors, plan participants, and community see reflect who you are?Now’s the time to have a “Grand Re-Opening” to let the people you currently have active relationships with know what you stand for.Don’t be concerned about sharing your newly enhanced brand with existing relationships. The face of the financial services industrychanges all the time. Financial solutions need to keep pace with the world we live in. Providers come and go. You can thrive on creativeways to exercise “brand you,” and remain relevant within that environment, without compromising relationships and values. Here aresome tools to share the news with existing relationships:Introductory letter/emailUse your new positioning statementto lead your customers into yourgrand re-opening and express yourvalue proposition. Make sure all thecontacts in your email account haveheard the word.Telephone recordingMake sure anyone who calls yourcompany knows what you represent.Press releaseSend out a press release announcingyour grand re-opening to local areanewspapers.Service contract templateUpdate your service contract withyour current customers to ensurewhat you promise to deliver reflectsyour value proposition.How about internal staff? Do you have an office manager,sales assistant, or staff member that works in your office?What are they saying about you and your business’s brand?How are you building your brand image with them? Whatdo they know or understand about your capabilities, howyou work with your clients, or what is important to youpersonally? Do they value “brand you?”Internal communicationShare your values, goals, andbusiness’s brand with anyemployees who may represent youto clients or centers of influence.1You can find the Brand Development Worksheet, and other helpful branding tools on www.centerforadvisorexcellence.comFor internal use only. Not to be viewed by or distributed to the general public.3

Spreadingthe WordIt’s time to spread the word. Now that your currentcustomers are aware of your business’s brand, it’s timeto let your prospects know. A vital part of making sureyou are reaching all potential clients is to fill out thebrand audit on pages 6 and 7 in the back of this bookletto determine if you are truly market-ready and able tobuild your brand equity.To reach your prospects, you’ll want to make sure youhave covered all of your visible branding touchpoints.Here are some samples of visual branding touchpoints.Website:• Does your website clearly represent your brand?• Do you have a web banner ad that you can post on websites of centers of influence, localnewspapers, and local radio stations?• Do you have the right type of website to match your brand?Visit www.centerforadvisorexcellence.com for more information.Communications:Do you have letters, postcards, and drip messages ready to send to prospects? Do you havean ad to post in local newspapers?Centers of Influence:There are key contacts you should have to help promote your services. Choosing the right partnerscan make or break your business. Some important relationships to have are with TPAs, insurancecompanies, and fund companies.Often times, chamber groups will host business updates. You could offer to speak at these. Doyou have relationships with local CPA and attorney associations? Local law and CPA firms thataudit 401(k) plans have required continuing education credits they must meet. You could hosta training session to help them meet these requirements. For information on finding local CPAfirms and other influential organizations, visit www.centerforadvisorexcellence.com.4

Growing YourBrand EquityContinue to grow your brand equity. Brand equity is like abank account. Your actions, behaviors, and interactions—conscious or unconscious—either contribute to or take awayfrom your business’s brand bank account. A deposit goesinto your brand equity account when clients have strong,positive feelings about you. Conversely, your account goesdown when clients have a low opinion or no opinion at all.The goal is to grow your brand equity account as much as possible.When a problem or error occurs, will your business’s brand equity bestrong enough to overcome the setback? When markets are unfavorableor other events occur that are out of your control, strong brand equitywill help you retain and acquire clients.“We build personal brand equity by practicingconsistent behavior, over a long period of time, thatreinforces the word or phrase we want others tothink of when they think of us.”-Tim O’Brien, The Power of Personal Branding, 2003.There are three key fundamentals to creating brand equity:1. Establish yourself as a brand to be remembered. Youaccomplish this through positive interactions, consistency,credibility, and authenticity.2. Reinforce their perception of you until you are top of mind.You become their “go-to” advisor. You have earned their trust.3. Finally, utilize a full range of strategies to maintain andreinforce that position and generate loyalty.When these multiple streams of you converge, you have achievedbrand equity.What does your title say about you? What types of continuing educationdo you commit to each year? Growing your expertise is an essentialcomponent of being able to project credibility, authenticity, and togenerate loyalty. For continuing education resources, visit websitessuch as www.asppa.org or www.shrm.org. Additionally, on the backcover of this guidebook, you will find a listing of Center for AdvisorExcellence workshops to help you grow your brand equity.5

Test YourReadinessBrand AuditStrong brands evolve over time. This evolution mayresult in the extension of your brand to additionalmarket segments or specialized markets. This evolutionwill impact the way you communicate your brand. Theevolution may require refocusing or augmenting yourbrand attributes as you continue to grow your career.A brand audit benchmarks the current position and shows you what your brandingefforts must accomplish in the future.Brand Experience AuditVisible BrandingInvolves all touchpoints relative to the client experience and tangiblydemonstrates your personal brand attributes, building brand equity.Invisible BrandingInvolves the intangible aspects of the client experience. Thesecritical elements of brand equity add up to what is often describedas professionalism.Getting Started• Identify all brand touchpoints.• Rate your brand experience from thecustomer’s point of view: Positive,Neutral, or Negative.• Identify gaps between your brand promiseand the actual experience.• Prioritize gaps and areas for improvement.• Set improvement objectives andmonitor progress.6Rating Scale: 1 = Positive, 2 = Neutral, 3 = NegativeVisible Branding Brand Look Rating Brand Promise Rating Priority LevelPersonal AppearanceOffice or MeetingEnvironmentAdvertisingProfessional DesignationsWeb PresenceCommunicationMarketing CollateralPresentation MaterialPoint of Purchase MaterialClient AppreciationInvisible Branding Brand Look Rating Brand Promise Rating Priority LevelService StandardsStaff TrainingCenters of InfluenceDevelopmentInternal CommunicationsBusiness PlanningPersonal EducationTechnical ProficiencyVendor SelectionCommunity InvolvementPlan Monitoring

Here are some additional audit questions:Internal Training and Communicationsr Did you train your staff on your business’s brand?r Can each staff member easily explain your brand and value proposition?Office Lobby Presentationr When your customers enter your office, is it obvious that you offer retirement plan services?r Is your signage and messaging easy to find and is it attention-getting?r Do you have retirement plan literature within easy view and access?r Does your answering service have a message that states your value proposition?Websiter Do you promote your retirement plan services prominently on the front page of your website?r How many “clicks” does it take to get to information about the services you offer?r Are you using web banner ads to promote your business on other partner or local business websites?r Is the content about your business updated and fresh?r Is your contact information current?r Are you creating ongoing reasons for customers and prospects to visit your website such as articles,research, statistics, speaking engagements, tips, and tools?r Do you offer your business prospects a no-cost, no-obligation retirement plan assessment?Public Relationsr Did you create a press release to announce your grand re-opening?r Do you regularly network with area organizations to establish ongoing relationships and gain business leads?r Do you volunteer to speak at meetings on retirement-related issues?Retentionr Do you have a plan in place to provide unmatched service to your plan sponsors and participants oncethey buy a retirement plan from you?r Will you provide ongoing education to plan participants?r Will you provide ongoing communication to sponsors through email, direct mail, and face-to-face contact?Now, assess your results. How did you do? Did you identify any gaps? Set your priority on gaps to tackle, then utilize the samples andtemplates on the website to complete these efforts. Visit www.centerforadvisorexcellence.com.7

Your business building resources do not have to endhere. The Center for Advisor Excellence provides awide variety of tested and proven business buildingbest practices for financial advisors like you. Thisservice is a value-add brought to you by your partnersat CPI Qualified Plan Consultants, Inc. The success ofyour business is important to us.Visit www.centerforadvisorexcellence.com to learn more about these additional workshops:Branding 1.0Branding 2.0ManagingYour BusinessGoal Settingand Strategic PlanningFor more information about how to get a personalizedtraining session, contact your Sales Representative atCPI Qualified Plan Consultants, Inc.800.279.9916, ext. 765www.cpiqpc.comExcellence in Marketingand New Client AcquisitionExcellence in BalancingYour Life, Work, Familyand FunFor advisor training purposes only. Not to be viewed by or distributed to the general public.10001471-0511 © CUNA Mutual Group, 2011 All Rights Reserved.