Understanding the advisor's sales process (2018)

foundational understanding

Target: 401(k) specialist advisor (Advisors who focus on employee benefits)

Challenge: How might we improve and streamline the 401(k) Advisor’s sales process? 

Summary: Businesses are increasingly using specialist advisors or consultants to purchase benefits. The organization had a strong relationship with many traditional advisors, who often needed a lot of assistance in the sales process. We knew very little about the specialist advisor. We conducted individual interviews, emotional journey mapping, ideation, and concept testing to arrive at actionable insight.  

Process: 

• Individual interviews with specialist advisors, conducting emotional journey mapping, and synthesis into opportunities

• Ideation and concept development with internal stakeholders

• Concept testing with specialist advisors

• Gallery walk share-out for product owners and marketing teams 

Insight: We learned that specialist advisors wanted us to help them to show off. They wanted white label support, information, and novel infographics that made them look like the rockstar.  Our organization previously considered itself to be a partner. At this point, we had to come to terms with how we could be the best provider in the field.   

Result: Marketers improved resources for advisors based on this insight, and saw a 60% increase in unique views by 401(k) participants.