⛽ A Free Pass on Gas

What happens when you double-swipe your rewards card at the gas pump? At one Nebraska station, you get free gas.

One woman took advantage of this obvious glitch and got away with filling up her tank for months before anyone caught on. 

She even let another woman use her card, charged her a fee, and made some cash on the side.

By the time this gas bandit was caught, her card had been swiped 510 times and she made off with 7,400 gallons of fuel.

The next time you're at the pump, don't get any ideas. No one in this economy is giving away the black gold!

- Team Advisorist

In Today’s Issue 👇️ 

• 6 must-track email marketing metrics

• The power of a re-discovery meeting

• A simple hack for a blank monitor

📧 6 Key Email Metrics You Need to Track

Email marketing is still king when it comes to generating leads and engaging with your audience. 

(Take that, TikTok! 👊)

If you have a solid strategy going, it's important to track how your campaigns do so you know what's working and what isn't.

While no two email campaigns are exactly alike, there are several core metrics and KPIs you should be monitoring no matter what. 

Let's dive in. ⏬

Open Rate: Tracks what percentage of subscribers actually opens your emails. A low open rate may mean you have an issue with your subject lines.

Pro tip: Experiment with different subject lines to see which ones result in the most opens. Try testing out different lengths and adding emojis.

Bounce Rate: Which percentage of your emails don't reach your subscribers. A high bounce rate could indicate you have a lot of fake email addresses on your list.

Pro tip: Use a double-opt in to cut down on bogus subscribers. A two-step authentication ensures you're dealing with a real person.

Click-through Rate: How many people click on the links in your emails. A low click-through rate might mean your content isn't relevant to your audience or you're talking to the wrong audience entirely.

Pro tip: Try segmenting your email list and tailor your content to more specific subsets of your audience. Stay up to date on what your audience wants to read about the most.

Unsubscribe Rate: How many people remove themselves from your email list. A high unsubscribe rate could indicate that you're not sharing the right content or talking to the right people. 

Pro tip: Avoid being too salesy in your emails and make sure you're providing high-value content. Provide an easy way for people to unsubscribe to build trust.

Conversion Rate: How many subscribers clicked on a link which resulted in a specific action, like signing up for an event or booking a call. A low conversion rate could mean there are kinks in your funnel. 

Pro tip: Check your opt-in strategy and landing page and make sure it's easy for people to complete the process. Revisit your content and make sure it's valuable and relevant.

Spam Reporting: How many of your messages are winding up in your subscribers' spam folders or junk email. A high spam reporting rate could be a technical issue or that your audience doesn't value what you're sending.

Pro tip: Rule out any technical issues with your email platform. If there's nothing technical going on, it's time to reevaluate your email marketing strategy. 

Headline Roundup

🏠 Affecting Your Clients

• Wages in the US are Falling at a 'Striking' Pace [FOX]

• Homebuilder Sentiment Positive for the First Time Since July [CNBC]

• Auto Insurance Keeps Inflation High, Holding Consumers 'Captive' [Y!]

📈 Markets & Economy 

• Analysts Unveil New Nvidia Price Targets Ahead of 'AI Woodstock' [Y!]

• Dow's 125-point Rally Led by Gains for Shares of Apple, Intel [MW]

• Oil Extends Gains on China Data and Russian Refining Attacks [B]

💼 Industry Roundup 

• High Rates And A Hot Market Make Tax Returns Trickier [FA]

• JPMorgan Fined $348M for Gaps in Trading Surveillance [TA]

• Annuity Sales Set More Records in Q4, Break $100B [INN]

🙄 That Don't Impress Me Much

Your clients love you…or at least you think they do. 🤔

Even if they're not outwardly breaking up with you, they could still be less-than-happy with the service you provide.

Let's look at some results from a recent survey of advisors' clients with at least $1M in investable assets:

• 61.4% completely or somewhat agreed with the statement “My advisor understands what is really important to me and my family.”

• 50.6% completely or somewhat agreed with the statement “My advisor reaches out to me on a regular basis.”

• 56.3% completely or somewhat agreed with the statement “I have a high degree of trust in my advisor.”

Ideally, these numbers should be at least around the 80% mark. The fact that they're significantly lower means we've got some work to do.

One surefire way to make sure your clients are happy with your relationship is to understand them inside and out. 

The discovery process is usually something we only think about when it comes to prospects, but there's value in going through the process with existing clients, too. ✅

If it's been several years since you last had a meaningful conversation, you might be missing out on key changes in their life that could impact how you serve them.

Here's a cheat sheet of questions to ask in a discovery meeting:

1. Values: What matters most to you about money? When you think about your finances, what feelings and concerns come up? What personal values influence your money decisions?

2. Goals:  What are you most proud of achieving in life? What would you like to accomplish in the future, both personally and professionally? 

3. Relationships: Who's most important in your life (family, friends, employees, pets)? 

4. Assets: What do you currently own (businesses, real estate, investment accounts)? Where and how are your assets held? 

5. Advisors: Who do you go to first for advice? How do you feel about your current professional relationships? 

6. Process: Do you prefer to take an active or passive approach to managing your money? How do you prefer to work with financial professionals?

7. Interests: What do you enjoy doing when you're not working (sports, hobbies, charities, religious organizations, family life)? 

Why not make it a point to rediscover your clients and get to know them all over again? 

Chances are they'll welcome the opportunity to connect, feel valued, and continue their relationship with you for years to come. 🌟

🗓️ Upcoming Industry Event Calendar

Mar 24 - 25: Shift: Human First Financial Guidance

Apr 8 - 11: NAPFA Spring National Conference

Apr 28 - May 1: NAAIM Uncommon Knowledge National Conference 2024

🤖 Tech Tip

The next time your PC’s monitor gives you the black screen of death, don't hit the power button to restart. 💻

Instead, hit Windows + Ctrl + Shift + B. 

This little trick alerts your computer that there's something wrong with your display and refreshes/resets your graphics driver.

The more you know!

✌️Good Vibes

Who says dads can't braid? 

England native Sarah Eaton started up "Dad & Me" workshops to teach dads how to do their daughters' hair. 

These classes teach men hair basics so they can help their girls get ready for school.

After they're done, dads walk away with all kinds of techniques, from how to detangle hair to how to master a ballet-style bun.

Sarah's run three workshops so far and popularity is growing. Moms are happy to have the help and the dads are super-proud to show off their skills.

A win-win for the whole family! 👧🏻💜

Sharing looks good on you.

When you copy that link at the bottom and share it with a few financial planning colleagues, you look like the smartest advisor in the room by keeping them informed.

Plus, you earn rewards. Sweet.