Roth Conversion Marketing for 2010??

[scagnt83]

Anyone doing marketing campaigns specifically for roth conversions this year?
Direct mail, web based, billboards, newspaper, radio, etc...


Im sure a lot of people will be googling it, so I have been thinking about local marketing over the web.
I also plan to try a direct mail campaign or two this year and see how they go.
But I think a well placed billboard or newspaper add might bring in some prospects as well...

 

[lalh20]

If you're doing roth marketing, you should know that a very small part of your target market will be a good candidate for a roth once you do the analysis. You'd be better off advertising "Roth Conversions - for 10% they make a LOT of sense. Lets find out if you're a candidate to have more wealth at retirement"
- you don't want them to think they're only coming in to GET a roth and then to want to leave as soon as they find that a roth isn't appropriate for them, and you don't want to have to lie to keep them in the office. let them know up front that you'll find out if its for them or not, then they'll be happy when you're honest if it doesn't end up being - and you'll earn a client.

 

[scagnt83]

If you're doing roth marketing, you should know that a very small part of your target market will be a good candidate for a roth once you do the analysis. You'd be better off advertising "Roth Conversions - for 10% they make a LOT of sense. Lets find out if you're a candidate to have more wealth at retirement"
- you don't want them to think they're only coming in to GET a roth and then to want to leave as soon as they find that a roth isn't appropriate for them, and you don't want to have to lie to keep them in the office. let them know up front that you'll find out if its for them or not, then they'll be happy when you're honest if it doesn't end up being - and you'll earn a client.

Well obviously its not something for everyone to do. Advertising is more about some type of hook or attention grabber to gain interest. And lots of people do have interest in this. Offering a roth "analysis" would most likely be the term I used.

I wouldnt expect but a small percentage to be candidates, but to do the analysis you have to review all of their current assets. Therefore giving you a chance to reposition existing assets if there is an opportunity.

If I met with 50 people I would guess maybe 6 or 7 of them would be conversion candidates. But at least half of them would have some type of asset that I could reposition to benefit them in some way!
Thus making it a wise marketing investment.

 

[lalh20]

Well obviously its not something for everyone to do. Advertising is more about some type of hook or attention grabber to gain interest. And lots of people do have interest in this. Offering a roth "analysis" would most likely be the term I used.

I wouldnt expect but a small percentage to be candidates, but to do the analysis you have to review all of their current assets. Therefore giving you a chance to reposition existing assets if there is an opportunity.

If I met with 50 people I would guess maybe 6 or 7 of them would be conversion candidates. But at least half of them would have some type of asset that I could reposition to benefit them in some way!
Thus making it a wise marketing investment.

agreed - the main point I was trying to get across, which I might have strayed a little from, is stay away from the "come get your Roth conversion" ads and be clear up front that you're doing (just like you said) an analysis.

another note, with all the roth ads, there's so many organizations pumping them, they're not going to be super effective for long. it may be time to dust off some old gems - such as "when was the last time you looked at who you had listed as beneficiaries on your 10 year old accounts?"