Pub. 6 2016-2017 Issue 3

22 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S TOM O’ROURKE ALTERNATIVE FUNDING PARTNERS “We are thrilled to have the ability to support so many fine charities that work tirelessly to help Coloradans and make our state a better place,” Waller said. FEATURE ARTICLE O kay. You read last month’s article on the power of amarketing strategy built around centers of influence (COIs), or those people who serve as trusted advisers to your ideal clients. You agree with the rationale and you see the value in focusing your new business development efforts on building a powerful network of COI’s. Your mindset is clear and you’re ready to go. But how do you get started? Following the seven steps below with commitment and purpose will provide both short- and long-term benefits. 1. Create a compelling STORY for gain- ing introductions and referrals. Ask yourself what makes you as an individual and as a bank special and unique in the marketplace. Determine what new value you can provide to COI’s that differenti - ates you from the “me-too” story of your competitors. Focus on the exact needs of your COI’s and create a tailored message that shows how they and their clients will benefit from working with you. 1. Carefully TARGET the right list. Start by defining the clients that you can serve best. Your niche may be based on geography, size of business, industry, or your areas of expertise. Once your niche is defined, then profile the COI’s who are best positioned to help you reach those targeted businesses. Thesemay be CPA’s, attorneys, business advisers, or associations. Your personal network often proves to be a top source of referral opportunities and warm introductions right at your fingertips. Local media, journalists, publishers, and editors are also great relationships that can allow you to be quoted publicly and become the expert in your space. Media outlets are always looking for ways to add value to their audience, and your niche might just be the ticket. 2. SMART initial marketing and out- reach. The smartest BDO’s carefully plan out the best strategy for approaching their targeted contacts. A smart mix of email, phone, networking, blogging, newsletters, associationmemberships, invitations and personal visits will serve you well. With each of these techniques, use targeted messaging that focuses on what’s in it for your COI’s and ends with a succinct call to action (CTA). Remember that your goal is to develop win-win alliances by delivering solutions that help your COI’s to help their clients to be successful. Your CTA's should always focus on scheduling a meeting in-person, jumping on a call, or meeting at an event. And with all of your outreach activities always be sure to measure the Return On Investment from your efforts with careful tracking of the bottom-line results you create. 3. Be 100%PROACTIVE. Your COI's lead busy lives, and as a result you can easily slip to the back of their minds. Consistent, scheduled follow-up on all of your market - ing and outreach efforts will help combat this. Success requires that you maintain top-of-mind-awareness (TOMA), so be sure to schedule blocks of time weekly for repeated follow up. For example, every Tuesdaymight be your “call day” when you follow-up via phone on your outreach ef - forts, while every Thursday might be your "email day" when you send an e-newsletter and personal follow-up emails.. 4. CONTINUOUS focus on introducto- ry appointments. Following the above steps will enable you to schedule intro - ductory appointments with COI's in-per - son, online, and on the phone. But what should you do with this valuable time? Be prepared to discuss the following: a. Why you chose to contact this person, firm or group. b. Your credentials, expertise and service offerings. c. The types of clients you work with and serve. d. How you are different from other bankers they may work with. e. How you see yourself helping them and their clients. Seven Steps to Building Productive and Profitable COI Relationships