In marketing, understanding your buyer is key – and the same can be said for stock plan management. Understanding your participants (your “buyers”) will help you to engage them and communicate in a more effective way. Developing buyer personas for your participant pool can help you segment your audience and target your messaging accordingly. As we say in marketing-the more targeted the message, the better it works.
Justin, a mid-level operations executive, pops into Carol’s office one day. Justin is seeking advice from the company’s long-time stock plan administrator about tapping funds for his son’s college tuition next fall. While Justin has several options for meeting college costs for his son, Aaron, he’s trying to understand the net after-tax proceeds if he used options to fund tuition costs.