A Five-Step Sales Process that Drives Results

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Many advisors spend time and money on marketing efforts in hopes of growth. Yet, few have the sales infrastructure and processes to effectively capture, manage and covert leads into clients (and then turn those clients into advocates).

A sales process doesn’t have to be complicated. You likely have an ad hoc system in place. By formalizing your approach – aligning your marketing and sales efforts and resources (technology, data, people, etc.) with an ideal client journey – you can improve outcomes.

Don’t leave your prospect and clients’ experience up to chance. First impressions matter and resources are limited.

I spent years at an RIA and then a fast-growing asset management firm with over 30 sales territories. The best practices that large distributors use to sell are incorporated in this article. You can replicate them in your advisory business.

Before you invest time and money on marketing, ensure you have these five things in place:

  1. Clear and measurable goals;
  2. Target audience profiles (be specific);
  3. Marketing plan – how to best reach and engage your target audience;
  4. Sales process – what you do once they are in your pipeline to convert them to a client; and
  5. Client service model – the consistent, ongoing client experience you want to deliver.

Determine your marketing approach

Your goals and prospect profiles should drive your marketing approach. Marketing is meant to increase awareness and engagement with your target audience, and support and validate client relationships.

When looking to grow your marketing efforts, focus on content and tactics that are relevant to drive your ideal targets to take action. No dead ends; always have a call-to-action (CTA) to lead prospects to a deeper level of engagement. Ultimately, your marketing efforts should inspire them to connect with you.

If you’re focused on a referral-based approach, your marketing should reinforce your credibility and value.