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Rewrites for the unsuccessful
May. 22nd, 2003 08:45 amYesterday at work I spent the whole day writing a proposal document. It was one I was planning on producing by the end of the quarter, but the timetable got moved up when my boss, Gina said that her boss, Mary, the vice president wanted it on her desk Friday. I had to write it yesterday since gina needed to see it before she left for the Indianapolis 500 this weekend.
So I wrote it. It's a proposal for how we can market our new web product to clients. We introduced it a few weeks ago, and the response has been a bit, underwhelming. The product allows plan sponsors and administrators look at the information for the entire retirement plan, by company (some have more than one). The function that excites our upper management is the part where the sponsor can put in their own data for new contributions and send it directly to us. There would be no need for us to do data entry, thereby reducing headcount cost (see, i told you that I was creating my own layoff).
Here's the problem. People don't like doing their own data entry, and they aren't comfortable with giving us their bank account information so we can bank-draft their account for the money when the submit contributions. We have gotten calls to tell us this. we have 300 users, a very small number. only a third have said they would consider using the product to make and pay for their contributions.
So I knew we needed a motivating factor, or we would be spinning our wheels, calling all of these clients who won't make the switch. It's all about bang-for-the-buck. Why spend time and money on something when you know the results will be poor?
There's a motivating factor out there. In what should start in 2004, we will charge an extra fee to plans that have us do the data entry. If you want to avoid the fee, move to the web product. this has been decided, months ago.
So I wrote that we would get the best response if we sent a letter this summer stating, here are the fees, they start soon, if you want to avoid them, call us. Then the clients call us, we don't waste time trying to catch them, and they have a reason to move that might override their fears of the internet and the pain of data entry. Then we follow up by contacting the clients who haven't called us.
The problem is, upper management isn't ready to talk about fees to the clients. This would move it up a few months. Of course, if I was going to be charged a new fee, I would want to know about it sooner, rather than later. Really, this shouldn't be a problem.
So I stated timelines, expected results, obstacles and things that must be resolved as we gear up. We would start in August and end by or before December depending on how successful the letter campaign is. I was pretty happy with the document.
Gina comes out of her office demanding a rewrite. She says Mary is looking for a fast and dirty plan that will have us starting next month. I said. "I can do that, but you know it won't be successful, and we don't have the manpower to do it right now since we're still trying to clean up data from our conversion three months ago." She replied, "Yes, but this isn't what Mary wants, just tell her what she wants."
This is before Mary has even seen the document. She's been on vacation, how does Gina know exactly what Mary wants? I know she's just trying to save her own skin, since Mary has been demanding lately, but come on, know what's best for your group!
So today I'll rewrite the document, but I'm going to be bold and try to do it my way...I'll give Mary her quick and dirty plan. We build a list of clients, and call them, out of the blue, and hope for the best... BUT...I'll add in, "here's a plan we think will be more effective, if you're willing to wait, and give us permission to push the fee communication up a little." I at least have to tell her there's a better way.
Of course, if she chooses the quick and dirty, we might all be staying around a little longer.
So I wrote it. It's a proposal for how we can market our new web product to clients. We introduced it a few weeks ago, and the response has been a bit, underwhelming. The product allows plan sponsors and administrators look at the information for the entire retirement plan, by company (some have more than one). The function that excites our upper management is the part where the sponsor can put in their own data for new contributions and send it directly to us. There would be no need for us to do data entry, thereby reducing headcount cost (see, i told you that I was creating my own layoff).
Here's the problem. People don't like doing their own data entry, and they aren't comfortable with giving us their bank account information so we can bank-draft their account for the money when the submit contributions. We have gotten calls to tell us this. we have 300 users, a very small number. only a third have said they would consider using the product to make and pay for their contributions.
So I knew we needed a motivating factor, or we would be spinning our wheels, calling all of these clients who won't make the switch. It's all about bang-for-the-buck. Why spend time and money on something when you know the results will be poor?
There's a motivating factor out there. In what should start in 2004, we will charge an extra fee to plans that have us do the data entry. If you want to avoid the fee, move to the web product. this has been decided, months ago.
So I wrote that we would get the best response if we sent a letter this summer stating, here are the fees, they start soon, if you want to avoid them, call us. Then the clients call us, we don't waste time trying to catch them, and they have a reason to move that might override their fears of the internet and the pain of data entry. Then we follow up by contacting the clients who haven't called us.
The problem is, upper management isn't ready to talk about fees to the clients. This would move it up a few months. Of course, if I was going to be charged a new fee, I would want to know about it sooner, rather than later. Really, this shouldn't be a problem.
So I stated timelines, expected results, obstacles and things that must be resolved as we gear up. We would start in August and end by or before December depending on how successful the letter campaign is. I was pretty happy with the document.
Gina comes out of her office demanding a rewrite. She says Mary is looking for a fast and dirty plan that will have us starting next month. I said. "I can do that, but you know it won't be successful, and we don't have the manpower to do it right now since we're still trying to clean up data from our conversion three months ago." She replied, "Yes, but this isn't what Mary wants, just tell her what she wants."
This is before Mary has even seen the document. She's been on vacation, how does Gina know exactly what Mary wants? I know she's just trying to save her own skin, since Mary has been demanding lately, but come on, know what's best for your group!
So today I'll rewrite the document, but I'm going to be bold and try to do it my way...I'll give Mary her quick and dirty plan. We build a list of clients, and call them, out of the blue, and hope for the best... BUT...I'll add in, "here's a plan we think will be more effective, if you're willing to wait, and give us permission to push the fee communication up a little." I at least have to tell her there's a better way.
Of course, if she chooses the quick and dirty, we might all be staying around a little longer.
