Effective Strategies for Participant Education at Partner Conference
Explore successful strategies for educating participants at Partner Conference 2014, focusing on wealth accumulation, fiduciary responsibility, learning styles, challenges, multi-channel delivery, and audience-driven approaches. Understand the importance of tailored education to different generations, genders, and demographics to promote positive financial behaviors and outcomes.
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Presentation Transcript
Strategies in Participant Education Suzan Huckaby Brian Nicholson, CRSP Partner Conference 2014
Partner Conference 2014 Why Educate?
Partner Conference 2014 Why Educate? Wealth Accumulation (a focus on outcomes) Fiduciary Responsibility/404(c) Financial/Physical Wellness Employer Benefits The goal of education is to create a call to action of good behaviors .
Partner Conference 2014 How We Learn A successful strategy incorporates how we learn into the communication plan
Partner Conference 2014 Challenges To Effective Education Learning Style Differences Information Overload Attention Spans Complex Topics Human Behavior Doesn t Apply To Me Reluctance To Make Decisions/Choices Cost Effectiveness
Strategies Partner Conference 2014
Partner Conference 2014 Multi-Channel Delivery A well-rounded education program has multiple delivery channels Group Setting Individual Meetings Printed Materials Web Based (i.e. Mastery Point) Social Media Pod Casts/ Web Casts/ Conference Call Small Business Servicing Strategy Email or other Messaging X Contribution Reminder Brian, IT S TIME TO TAKE ANOTHER LOOK AT YOUR DEFERRAL PERCENTAGE!
Partner Conference 2014 Audience Driven Approach Differences in generations, gender, and other demographics force the need for different approaches to education and communication strategies Baby Boomers (Born 1946 1964) Gen X (Born 1965 1980) Gen Y (Born 1981 2000)
Partner Conference 2014 Audience-Driven Approach Differences in generations, gender, and other demographics force the need for different approaches to education and communication strategies Male/Female Salary Education Level Other Demographics
Partner Conference 2014 Targeted And Personalized Relevant topics to the group you are trying to reach When targeting communications consider the demographics of the group Keep it Simple Tie to personal goal achievement Put numbers and projections into context
Partner Conference 2014 Just In Time Education, to be most effective, should be delivered just in time Tell me what is relevant for me to know now Education or facts that are not relevant to your audience should be omitted
Partner Conference 2014 Social Engagement Strategies Gamification the use of game mechanics in non- game contexts, to engage users in solving problems and learning. Suzan Audience Engagement Peer Comparisons 90% Gamification/Incentives Brian Audience Engagement 88% Other Social Media Overall Engagement 89%
Partner Conference 2014 Other Thoughts Consider holistic education to improve overall financial literacy Implement Auto Plan Features Simplify Investment Menus
Partner Conference 2014 Building A Successful Program Effective education programs have an employee centric focus Set/Create an Education Policy Targeted and Personalized Relevant Must be consistent, persistent, and multi-channel Track progress toward goals Gather feedback from participants Establish relationships to minimize taxable distributions at retirement
Partner Conference 2014 BPAS Tools Available Printed Materials Web Education Financial Resources Mastery Point Guidance AdviceWare/RJ20 Retirement Gap Analysis Income Projections Conference Calls/Web Casts
Partner Conference 2014 Questions? 16
Partner Conference 2014 Contact Suzan Huckaby BPAS shuckaby@bpas.com Brian Nicholson BPAS bnicholson@bpas.com 17
