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Recently an advisor said to me, “Our number-one problem is getting leads – and we’ve tried everything including social media, email blasts, and a new website – but none of these things are working effectively.”
I told him: “In a low-volume/high-margin business like advisory, sales conversion (not lead generation) is where the real leverage is.”
Contrary to industry thinking, you don’t need more leads. You need to convert all the qualified opportunities in front of you.
Spending more money and effort pushing free content through high-traffic channels = attract attention at scale = get more leads – isn’t as profitable as you think.
“Spray-and-pray” marketing is a good model for selling t-shirts – not so good for getting advisory clients.
Why?
Free content pushed at scale is generic, unspecific, and addresses people indirectly as a group.
You might get leads from it, but most of what you catch either slips through your net, or you end up throwing them back (like fishing in the wide ocean).
Instead, use the “one-call sale” approach.
With the one-call-sale model, you don’t fish in the wide ocean.
You fish in “ponds” where your ideal clients have already gathered.
You don’t promote commoditized solutions. Instead you target problems only (the issues that cause your potential clients the most stress).
This way, your qualified prospects feel you’re addressing them directly as a person, not as a group, and that creates a baseline of trust which sets you apart from everyone else.
The advisory sale is a direct, one-to-one situation, that requires trust to succeed.
Getting in front of more prospects, so you can have more meetings, to (hopefully) get more clients is the wrong line of thinking.
Shift your mindset to:
Who is my ideal client, what’s their core issue, and how can I address them specifically to differentiate myself so they trust me to solve their issue?
To learn how to shift your approach to a trusted authority-centric model, order your complimentary book and consultation below.
Ari Galper is the world’s number one authority on trust-based selling and is the most sought-after high-net worth/lead generation expert for financial advisors. His newest book, “Trusted Authority” has become an instant best-seller among financial advisors worldwide – you can get a free copy of Ari’s book here and, when you click the “YES” button in the order form, you’ll also receive a complimentary “get new clients” lead generation consultation. Ari has been featured in CEO Magazine, Forbes, INC Magazine and the Australian Financial Review. He is considered a contrarian in the financial services industry and in his book, everything you learned about selling will be turned upside down. No more chasing, no pressure, no closing.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.