Sales and Marketing Lessons During the Pandemic

It’s been an eventful year, and no one could have predicted many of the events that took place—from the pandemic to the ups and downs of the equity market.

Management decisions made when major, unexpected events happen are informative. For example, when the equity market was falling earlier this year and the economy closed, the in-person distribution model was severely impacted.  Many asset managers have countered by reducing their sales and marketing efforts rather than revising their business model.

Hindsight is 20/20. Here are some lessons from a pandemic:

  1. Be nimble. With uncertainty for a considerable part of 2020, a key to success is the ability to be nimble with your communications and ready to change your sales and marketing strategy based on the current market situation and operating environment.
  2. Focus on retaining assets. In turbulent markets and uncertain times, make it a priority to retain assets by connecting with your clients and the owners of your funds.
  3. Keep the sales momentum – by phone and email. No matter where Financial Advisors are working, continue to communicate by email and phone.

In any environment, new business initiatives, pipeline development and asset gathering should be a critical part of your growth initiatives.

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