Analysis from Gartner exhibits that 84% of gross sales leaders see successfully cultivating their group’s tech stack as a key to assembly income targets. So how are you going to make sure you’re optimizing your tech stack to fulfill key enterprise objectives?
Shawnna Sumaoang: Hello, and welcome to the Win Win Podcast. I’m your host, Shawnna Sumaoang. Be a part of us as we dive into altering traits within the office and find out how to navigate them efficiently.
Right here to debate this matter is Jonathan, or JB Belair, the vp of recruiting expertise options at Osaic Wealth. Thanks for becoming a member of us, Jonathan. I’d love so that you can inform us about your self, your background, and your function.
Jonathan “JB” Belair: Thanks for that and thanks a lot for having me on the podcast at this time. My title is Jonathan, or JB Belair as everybody calls me. I’m the VP of our recruiting expertise right here at Osaic, and Osaic is a big broker-dealer. In my particular function, I look to assist our gross sales crew higher recruit monetary advisors who wish to be a part of our agency. And simply to put that down, so everybody is aware of precisely what we do right here. By way of my expertise and background, oh my goodness, I’ve been in expertise longer than I wish to publicly admit. Typically within the entrance finish, additionally within the again finish, and in improvement. However, a part of my background can be being a monetary advisor. I’m distinctive to this function as a result of I get to speak about expertise. How monetary advisors can come to our agency right here at Osaic, have a extremely nice expertise, but in addition I can depend on my expertise as a monetary advisor and nonetheless am a monetary advisor. That’s a little bit bit about what I do. It’s been about 15 years now since I’ve been on this {industry}, totally registered in addition to a dealer. Additionally as an funding advisor myself. Along with that, my duty actually extends past that as effectively to assist handle a number of the expertise that’s utilized in our enablement crew.
To make sure that our recruiting efforts are each efficient and progressive for our, what we might name our shoppers, that are recruits seeking to be a part of the agency right here. Additionally, I assist articulate our Osaic expertise story to potential monetary advisors or monetary professionals. It’s the {industry} time period we use simply to allow them to perceive what we have now to supply and likewise in order that they’re with us, which is a agency that basically prioritizes having that advisor-centric expertise, and instruments accessible for them to assist them service their shoppers develop their huge e-book of enterprise, and, after all, thrive.
SS: JB, one of many issues that caught my consideration was in your LinkedIn. You talked about that your experience per your introduction is in harnessing expertise to drive innovation. I’d love to know from you, what are some greatest practices for curating an efficient enablement tech stack?
JB: Completely, that’s an excellent query. Relating to enabling a tech stack—and I’m filled with anecdotes left and proper—I inform everybody it takes a village, and it actually does. However, one of many key issues is ensuring that it aligns with what you are promoting targets. You need to ensure you have your purpose outlined, proper? Guaranteeing that the expertise that you simply’re taking a look at—on this case, Highspot—actually traces up with one, our agency’s targets. What we’re on the lookout for in development, and likewise effectivity. Now we have to additionally ensure that we have now stakeholder buy-in in addition to one other vital factor. You need to just be sure you contain these key stakeholders from throughout totally different elements of the agency to make sure that one, we have now this for our use in recruiting. However, is there a cross-departmental want as effectively, proper? Do we have now different elements of our agency that would additionally profit from this?
In order that was a be aware, sneaking that into later down in our podcast the place we speak about why we selected Highspot, however that’s one of many items. I believe it’s additionally, from a greatest apply, good to prioritize integration and compatibility—that’s an enormous one. Everyone knows as bigger companies, usually, we use our CRM instruments and we have now totally different automation instruments.
We need to ensure that Highspot, as I say, performs good within the sandbox. That’s vital, as a result of if we lose your software, then we don’t have any integrations. It’s not going to do us any good, actually, on the finish of the day. But in addition, another greatest practices in there are ensuring that you would be able to give attention to the person expertise as effectively. It’s vital to us to have instruments which are intuitive and user-friendly in order that we all know then that adoption amongst workers—whether or not it’s our group or across the agency—will simply get on board with that. However, additionally, there’s coaching and help as effectively. I actually would say that I’m a Highspot professional. Debbie DeLuca on my crew can be the Highspot professional of the crew, fingers down. And he or she undoubtedly does coaching with a few of our different teams, that’s one other piece of it. However exterior of that, a number of the different items the place I make options are the cost-effectiveness. What’s the ROI on the software that you simply’re on the lookout for?
There’s some scalability and suppleness, as effectively. It’s simply as vital that your software is ready to scale up and scale down with us, proper? As a result of that helps once we consider issues like, let’s say, future-proofing a few of our instruments. As we develop, we need to ensure that instruments can increase. That’s an vital a part of the puzzle.
One other couple of issues that I might say, too, everybody does it: go to Yelp, go to Google, take a peek on the critiques, and see what individuals must say. You may often inform fairly rapidly if persons are having an excellent expertise with the software or in the event that they’re not having an excellent expertise as a result of if there’s one factor all of us do in our Reddit tradition is there’s a subreddit on every part.
SS: No, there undoubtedly is, and proper me if I’m fallacious, I consider you guys have been utilizing a distinct resolution previous to Highspot. What have been a number of the main challenges that your crew was confronted with throughout that point?
JB: There was a scarcity of a hub for info. We all know that one of many the explanation why our gross sales enablement crew is so efficient is we are able to have a hub for us, proper? And the opposite platform didn’t enable us to create personalized pages that would function centralized hubs if you’ll. That basically makes it tough to prepare and entry collateral and different info in methods that’s actually intuitive for the individuals who must get their fingers on it.
Along with that, we had restricted analytics with that software. It wasn’t constructed to be a gross sales enablement software per se—air quote that one for these of you who can’t see me. I believe it served numerous functions. It did some issues effectively, but it surely didn’t do something very well, and that may be a difficulty for us particularly. We didn’t have an excellent Salesforce integration with that software—full disclosure, we use Salesforce. In order that was crucial for the way we have a look at our recruits, and hold info, and the way we monitor contacts—that was a extremely vital a part of the puzzle as effectively.
Additionally, Pitch analytics. If we despatched one thing out from the opposite software, we weren’t getting something again. It simply wasn’t detailed sufficient, so that may additionally actually hinder our effectiveness at measuring how we’re making an attempt to interact, but in addition that helps us perceive what’s touchdown and never touchdown effectively. So, that’s difficult. In the event you can’t perceive if the Pitches are making sense to whoever you’re sending that to, that may very well be an issue. So these are a number of the items, but in addition it simply appeared a little bit disjointed, as a result of we didn’t have that integration to Salesforce.
Once more, we use that as our CRM right here, and that simply made it tough as a result of we misplaced out on the integrations and that move we need to have. Additionally, I might say, simply the transparency throughout the agency. Trigger we actually work with different groups on this function and never having that potential to see, “Oh, Hey, it seems like JB despatched out a Pitch on X, Y, Z.” That may be actually useful to a different particular person having a dialog. And we didn’t have that in our system.
SS: Completely. And so it appears like there was a extremely good impetus for change. And, clearly, you all determined to accomplice with Highspot—thanks. Since implementing Highspot, how have you ever been in a position to overcome a few of these earlier challenges and actually drive innovation?
JB: It’s industry-leading expertise, proper? So that you all at Highspot supplied cutting-edge tech that basically positioned us on the forefront of our {industry}. Within the enablement world, if you’ll, we actually have companies that we compete towards. I don’t know technically who makes use of Highspot, however we actually know who doesn’t use Highspot, I’ll let you know that. Having some superior options and capabilities was crucial to make sure that we may very well be in that main expertise spot, proper? That’s a part of our model id in addition to our agency. We’re not making an attempt to be the stodgy outdated, broker-dealer that appears like a legislation agency, we need to be industry-leading with expertise. We all know that’s the place persons are going, and we’re seeking to entice these sorts of professionals to our agency. In order that sort of helps in it, but in addition these enhanced analytical insights that we get, that’s vital, proper? That was a serious driver and the necessity for us to have extra sturdy instruments, deeper insights into our recruits, what they’re taking a look at, what’s touchdown effectively, what doesn’t land effectively, and actually the analytics.
Highspot helps us with that, but in addition it helps us keep organized, which is a superb factor. So for these of you who don’t have Highspot proper now, we love the search subject as a result of it really makes use of AI. So when persons are in there on the lookout for collateral, they will sort in a phrase that they’re looking for. They are saying, “Oh, I do know that this piece had this phrase, proper?” It helps join these issues collectively, but in addition these enhanced analytics, after I hit on that matter. It allowed us to open up different items that folks didn’t know have been accessible. So, perhaps there’s somebody in a distinct a part of the enterprise who stated, “Hey, I didn’t know that we had this particular collateral piece, proper?”
As a result of perhaps it doesn’t contact that group per se frequently. In order that helps, it creates extra engagement. But in addition, on the finish of the day, the largest factor, after all, was the seamless integration into our ecosystem. That’s an vital piece of the puzzle. If it might probably’t combine with what we’re doing, we are able to’t get that into our CRM—which is Salesforce on our finish—it simply isn’t going to do us any good.
SS: I couldn’t agree extra. JB has not been compensated for the issues that he’s saying, he simply actually loves the platform and is utilizing it in an exceptional manner. So, thanks for sharing that. Now, Osaic has skilled numerous change this yr, together with a rebrand following just a few acquisitions. What are your greatest practices for driving, as you name them, recruits to have a constant expertise with you all amidst all of this modification? And the way are you leveraging Highspot to assist?
JB: Completely, that’s an excellent query and an fascinating one. We went by means of an enormous rebrand, so we was once a number of companies. We introduced everybody collectively into one Osaic, proper? And Highspot has performed a extremely vital function, particularly on the recruiting aspect of the puzzle. As a result of identical to something, while you hear a brand new model, you should have nice collateral. You need to have the Gross sales Performs and different issues that you would be able to go in and Pitches that we are able to get out so we are able to speak about who we’re.
As a lot as we’d wish to assume that everybody is aware of who we’re—perhaps they acknowledge one in all our outdated companies like Woodbury, or Royal Alliance, and people companies, perhaps that was at the back of their thoughts. We have to ensure that we are able to speak about our new agency, proper? Osaic, who’re we? But in addition that helps us bridge the timeline for these individuals who is probably not conscious that we’ve been round greater than two years. We’re not the nucleus of the block, we simply introduced the factor. Principally, we took all of the items collectively to make a very nice agency from all of our different broker-dealers. We had sure strengths from totally different companies and we introduced that every one collectively to create and curate an excellent expertise for monetary advisors.
One of many methods is known as a unified voice. Once we ship out collateral, it’s constant and it has the appropriate model voice on it, which is vital, particularly throughout a rebrand. It’s important we have now that in all of our communications as a result of we need to be actually in keeping with that. Highspot helps us as a result of one factor, I’ll let you know—and that is for anybody listening, whether or not it’s our {industry} or, prescription drugs, whoever it might be—what we didn’t need to have was individuals utilizing outdated collateral they saved on their desktop. I’ll ship them out this piece, and perhaps it had our outdated branding. As a result of what does that do? It creates confusion as a result of they’re going to say, “Wait a minute, you’re Osaic, however why are you sending me one thing from Advisor Group? I assumed your title was Osaic.” So, it helps that simply from a procedural manner, as a result of in the event that they’re sending it from Highspot, they’re sending it from Osaic. We all know it’s essentially the most up-to-date model.
One other profit, once more, I’m not paid—I do settle for free espresso, and I’ll drink espresso all day lengthy—is that as we replace items on our finish, it updates in Highspot itself, which is nice. So we have now essentially the most present model that’s on the market. We actually have a advertising and marketing crew, we have now a design crew, and once they make these modifications it’s uploaded to a software that we have now. After which from there, it’s up to date in real-time in Highspot. In order that’s vital, however I believe additionally Highspot can be utilized not solely simply as an enablement platform, however you should use it to assist prepare as effectively.
Keep in mind, the cool factor is, you’ve bought these Spots that you would be able to make. And I’ll let you know a narrative: apparently sufficient—and this can be a greatest apply for anybody on the market who desires to tune into this a part of the podcast—once we initially created our Spot, we thought of it from the standpoint of ‘what we need to see in enablement’, proper? What’s vital to us? What will we need to see? It was fascinating, we went to your convention out in Seattle, which was actually enjoyable—huge plug for anybody who has not gone, Spark was tremendous enjoyable, go for those who get an opportunity—and we had a while to sit down down with Katie and Elise. Have a look at our spot, and communicate with somebody, one in all your professionals there who may give us suggestions and recommendation on our Spot. What we discovered was, and I’ll take full duty for this one, the sunshine bulb went off in 60 seconds. I’m like, oh my gosh, we created this for us to make use of. We didn’t create it for the tip person.
So, we went again to the drafting board, we refined what we did, and we discovered in a short time that when it was talking to the tip person, that’s the place we had the liftoff. That’s the place every part began coming collectively as a result of then our recruiters may go in and say, “Oh, hey, that is the spot we slot in. Right here’s the knowledge we want.” In order that was one of many items to how I believe that surprisingly by means of this rebrand, you may really use Highspot for a little bit bit of coaching as a result of we are able to create these pages and put these items there with a story as effectively to assist out with that.
Additionally, Playbooks. It’s one other factor you are able to do in there as effectively to information you thru totally different eventualities. There are numerous methods that you would be able to handle a rebrand, it was so thrilling. But it surely’s, once more, one of many sort of bringing these feedback to an in depth. It’s so vital that it’s in keeping with what we do to drive dwelling our model message: who we’re, what we stand for, and what the thematics of our agency are. I’ll let you know, that was the entire level of our rebrand, is ensuring that folks knew who we have been. With out that consistency, that coaching, and all the opposite help, it wouldn’t be as profitable because it’s been.
SS: I find it irresistible, and thanks for the plug. I do hope you’re popping out to Spark ’24 in October this yr once more. However, I need to speak about Performs, since you touched on it simply now and you’ve got achieved a formidable 67% adoption of Gross sales Performs. I’d love to know what are your greatest practices for constructing efficient Gross sales Performs after which how are you driving adoption of these together with your groups?
JB: Completely. So one factor that I’ll inform anybody—and that is whether or not it’s a Play or the rest you’re doing—for those who can gamify the method and make it enjoyable, individuals will get on board. If you may make it a problem perhaps there’s a—, and full disclosure, we have now actually run little competitions with totally different teams about this. At any time when it’s a recreation individuals get excited they usually actually get into it, so I discovered that has labored effectively. However because it involves constructing efficient Gross sales Performs, I’ve bought, once more, Debbie DeLuca, who’s on our crew, who’s superb.
She is absolutely the professional at making these Gross sales Performs. However, at the start, it’s a must to begin with a transparent goal. What’s your purpose? Defining that purpose for every of the Gross sales Performs, whether or not it’s to introduce our model story or adoption of messaging to help a selected product or initiative we have now; that’s vital. You’ve bought to have a transparent goal as the primary level. However then additionally alongside that, you should be certain it aligns with the enterprise technique itself. The place does that match into these puzzle items? Tremendous vital. Primary, that clear goal. Quantity two, I might say is knowing who your viewers is, proper? So we are able to tailor Performs to totally different roles and groups, as a result of perhaps the recruiting crew could have a really totally different Play than our engagement crew, or perhaps one in all our product, skilled teams, or our retirement plan gross sales consulting group, proper? So, it’s going to look totally different. It’s at all times vital once more, to recollect who your viewers is as you concentrate on that. We like that Highspot permits us to actually create rule-specific Performs as effectively. So, that signifies that everybody has that related and actionable content material, proper? But in addition have their persona focus in there as effectively, proper?
So, customise the messaging: who’s it to, who’s the tip person? An instance of that might be if I’m speaking about our expertise to an present particular person at our agency. That message could sound totally different to a recruit. What voice are they seeking to hear? But in addition, we do work with third-party recruiters as effectively. Once we contemplate that, the voice is a little bit bit totally different as a result of they’re listening to their shoppers. They’re our shopper, per se, as a result of they contract by means of us. Their shopper is definitely that finish advisor. In order that voice is a little bit bit totally different. In order that’s actually good, but in addition leveraging the steering, be certain it’s structured in there, what are the step-by-step items, proper? Clear step-by-step directions are vital.
Additionally, for those who can put eventualities and use instances in there, that’s at all times useful as effectively. And naturally, it wouldn’t be Highspot for those who didn’t have the flexibility to combine some cool stuff—media, photographs, displays, PDFs, these sorts of issues, these go a great distance, proper? If I provide you with a play and it’s only a Phrase doc, let’s be actual—you’re dropping curiosity in 5 seconds, you’re finished. However, if we’ve bought photos and different issues in there, that additionally helps to interact customers, however once more on prime of that, it’s a help piece. I wish to name it help collateral, I might say that goes in there.
So we are able to hyperlink in items from our collateral library, templates, scripts, and issues like that we have now that make it good. But in addition, along with that, we are able to return and have a look at the efficiency, too. Are these Performs, are they hitting effectively with the viewers, or are they not? As a result of in the event that they’re not, we would have to return and work out, okay, if we have now a 2% open charge, what are we doing fallacious? What messaging isn’t getting there? And I might inform anybody, “Hey, the perfect factor to do is attain out to a kind of individuals that you simply’re actually creating the Play for.” It’s possible you’ll be shocked—what you assume they need to hear and what they really need to hear are two various things, however analytics assist. If it’s a must to swallow your delight from it and be like, “Okay, I assumed I used to be proper, clearly I used to be fallacious, let me make the telephone name to escrow, what do you need to hear?”
Together with that, some greatest practices within the Performs is facilitating the collaboration. We are able to collaborate throughout groups on there, too, which is nice. I do know that was a brief query, however numerous particulars on that one. Once more, I’ve bought an excellent crew of those who I work with and we love Highspot, clearly, so among the finest methods to make use of this software, is it must have a suggestions loop on these items, proper? That’s how one can actually refine it and make it nice as a result of that’s the entire objective of us utilizing this: to interact, educate, and do every part we do.
SS: Completely. Now, I need to speak concerning the impression that this has had, and also you guys have seen some actually spectacular will increase in quota attainment and win charge. Are you able to inform us about a number of the enterprise impression that you simply’ve been in a position to obtain since implementing Highspot?
JB: Now we have had—this final quarter, into this yr—a number of the greatest recruiting that we’ve had on document, which is nice. Now, there are lots of people who can take credit score for that, proper?
There are lots of people who contribute to that purpose, however I can let you know that what we’ve seen is you may obtain greater effectivity in what you’re doing through the use of Highspot. As a result of, now if we have now recruiters or different teams all through our agency who need to leverage the software, they don’t must shoot in the dead of night to search out 50 locations and discover the collateral or the instruments they want of their function.
That helps, as a result of there are numerous fingers within the cookie jar in terms of bringing monetary advisors over, and in my function particularly. Frequently, we have now to work with numerous totally different teams. That’s one factor that’s vital. It additionally will increase the sort of quota attainment itself, we all know when persons are partaking with us, and we all know once they’re not as a result of we have now analytics to that. If we see somebody that’s engaged, that’s a manner higher manner for us to spend our time. Let’s speak to that recruit, let’s proceed the dialog. Or, perhaps we’ve had somebody who opens up emails or they simply have a look at it and look. Possibly it’s time for a telephone name, proper? So a pair methods [it can help] is one, it might probably assist us gauge is the lead cooler than we predict, or is the lead hotter than we predict? How will we need to take these actions? It additionally helps us drive greater win charges as a result of we have now these knowledge pushed insights, that’s vital. I do know we’ve talked about it so much, however these superior analytics to assist our crew perceive what’s vital to that particular person they’re talking with and that’s throughout the agency. For example of the recruiting aspect, are they fascinated by listening to about our wealth administration providing, perhaps it’s our succession and acquisition planning we have now, are there providers that we have now that they’re actually fascinated by?
We are able to plug into that, have an excellent dialog and go from there. It does assist us obtain these greater win charges, but in addition simply from successful standpoint. We’ve seen, as they are saying, the proof is within the pudding. There’s lots of people in our {industry}, in our market, in our mannequin, in our — even who compete with us, however we’re seeing actually nice recruiting success. I believe a part of that’s our potential to assist drive constant messaging, have these collateral, but in addition share why individuals would need to see themselves with let’s say Osaic as a agency. That takes a narrative, it takes collateral, it takes groups, it takes consistency. I believe while you add these all up, these contribute to that.
However once more, the opposite vital half as we take into consideration that too, is that helps drive income. There’s that scalability issue, all these issues play into that success. We’re fortunate that we’ve been in a position to depend on Highspot to be a part of that. As we are saying, it’s not concerning the quantity of touchdowns you get. It’s all about shifting the gamers down the sphere and Highspot helps extra effectively transfer the gamers down the sphere, as a result of that’s what you may management. And we all know that results in higher win charges.
SS: JB, final query for you. As you look to the long run, how are you persevering with to drive innovation by means of expertise at Osaic and the way do you propose to leverage Highspot to assist?
JB: Completely. I like tech, I may speak about all of it day. However for us, as I take into consideration ways in which we’re persevering with to drive that innovation, Highspot permits us to be user-centric with what we’re doing. And that’s vital, whether or not it’s the interior person who’s utilizing it on the within, but in addition the user-centric piece on the receiving finish.
Once we’re speaking to these recruits that may very well be our present shoppers, who could be monetary advisors, and professionals who’re already with us as a complete, proper? Having that expertise permits us to repeatedly refine what we’re doing, and scaling up and cutting down is an enormous piece of that. We’re fortunate sufficient that what I might inform individuals, the analogy that I take advantage of after I’m speaking about our story right here is, there’s numerous companies who— whether or not they’re bigger than us or smaller than us—all of us have comparable capabilities, most of the time. Let’s be actual, proper? Everyone knows that. You’ve bought 20 totally different espresso outlets, all of them serve espresso. However, what makes us stand out? One of many issues we’ve finished with our expertise is ensure that as an alternative of placing issues along with band-aids—I wish to say fishing line, and hope it really works—one of many issues we did over these previous few years is we ripped out the wiring, we ripped out the plumbing on the home, we did the arduous work first. A part of that was additionally us bringing on instruments like Highspot, as a result of when we have now a greater expertise infrastructure as a complete, these items are cool as a result of we are able to scale up, we are able to additionally scale them down.
The opposite piece to that too, as I look to drive that innovation, are these tailor-made experiences as effectively? That’s vital. I’ve seen emails from some companies and it’s the very same factor. I believe to myself, how fascinating would you be as the tip person to get three of the identical emails from three totally different companies? How loopy is that? We are able to create that tailor-made expertise, and It additionally helps us present that we’re listening as effectively, as a result of for those who’re leaving the agency, you’re not leaving since you don’t have something higher to do together with your time. There’s a purpose, so allow us to assist tailor that to your expertise. But in addition, innovation-wise, we are able to actually drive dynamic content material as effectively, which is vital that adapts to our customers journey. Once more, that may very well be inside or exterior once we use that as effectively. However, I believe numerous it may be summed up with one huge factor: I’m seeking to foster that tradition of innovation, to assist carry that torch throughout our groups and all through the agency. I’m fortunate sufficient that, fairly actually from our CEO and our president down, they’re so supportive about empowering us to create that innovation. We need to be the expertise leaders in our {industry}, proper in that broker-dealer area.
So there’s numerous issues I’m actually trying ahead to in terms of innovation. These are simply a few them on driving that innovation. However, for anybody on the market, even for those who don’t have Highspot now and also you’re listening to this and also you’re like, “Hey, we bought a distinct software.” Simply know that tailor-made expertise, the analytics, the flexibility to, scale up and scale down and all of the integrations for us at Osaic, we discovered that’s the place the magic occurs and that interprets on to our win charges and success in different areas. We are able to create a extremely clear dotted line from A to B, and understanding what that ROI is as vital as effectively. As a lot as I can speak about——, for those who ask me, I’m going to say every part is unbelievable. We’re making nice progress and having nice wins. We’ve nonetheless bought to again it up with some metrics, too, and that’s the place it is available in, on the analytic aspect. I might simply I might do all emojis hey, right here’s our complete scorecard. Every thing’s an emoji. However often individuals need some extra tangible numbers to be alongside that as effectively.
SS: J. B., thanks a lot for becoming a member of us at this time. I actually respect the time. Thanks once more.
JB: Thanks a lot on your time, it’s been a pleasure.
SS: To our viewers. Thanks for listening to this episode of the Win Win podcast. You’ll want to tune in subsequent time for extra insights on how one can maximize enablement success with Highspot.
