We get it; marketing is not easy. You spend way too much time crafting your marketing messages and making social media posts yet still don’t get any leads. And we know why—most financial advisors fall into the same marketing pitfalls that cause frustration:
The Great Wall of China is an architectural feat that still amazes people to this day. Each brick was molded by hand and then transported in wheelbarrows, on workers’ backs, on camels and horses, and so on. It took them 300,000 soldiers, countless townspeople, and over 20 years to build the first iteration of The Wall.
But think about all the time, money, and resources the Qin Dynasty could have saved with trucks, forklifts, and an assembly line. An infrastructure engineer hypothesized it could take as little as 15 months to build The Great Wall with modern technology.
Ancient Chinese engineers didn’t have that choice, though—because they didn’t have modern technology. But you do. Doing your marketing without automation is like voluntarily building The Great Wall without factory-made bricks. Hand molded bricks work fine, but using an assembly line leaves you time to focus on the engineering (i.e., your marketing strategy) rather than the manufacturing (i.e., posting daily, sending emails every week, etc.).
Imagine this: You receive a call from an unknown number. You pick up, just in case it’s someone important, but as soon as you answer, a telemarketer starts rattling off a sales pitch. You (and everyone in the known universe) hate it when that happens, and for good reason—this sales tactic is annoying, and you didn’t consent to receive calls from random companies.
The bad news is that you’re using the same tactic as that annoying telemarketer when you buy an email list and send cold messages. The only difference is the device used.
Luckily, you probably already have a great list—even if your list is just one warm lead.
All you need to bake yummy peanut butter cookies is peanut butter, sugar, and an egg. Mix everything together, then throw your dough into the oven for six to eight minutes. But the entire recipe fails if you’re missing an ingredient or take the cookies out early.
Just like baking, good marketing takes good ingredients and the right amount of time. Half-baked marketing is a common problem that financial advisers face—they don’t nurture their leads long enough, they send their leads and clients generic messages, or they only use one campaign.
Luckily, we’ve got the perfect recipe for you. Marketing strategies that produce results rely on three factors: cohesive campaigns, content that resonates with your target audience, and conversations that lead to stronger relationships.
How long do you think you need to work at your marketing to get results? A month? Three months? What if we told you it takes a lot longer than that? Probably a lot longer than you’d like. But that’s ok; you’re in this for the long haul because you want more than just leads—you want paying clients.
One of our members shared with us that he “just scheduled a meeting with a $1.2M prospect” he’s been emailing since 2018. After three years of nurturing and building the relationship, he finally got a call booked with that high-net-worth (HNW) prospect. Even though it won’t take all your HNW clients three years to convert, you need to invest in that relationship with a considerable amount of nurturing to get on their radars.
So the right answer to our question in the first paragraph is: it depends. We recommend using our holistic lead generation strategy for at least six months before giving up—but it could take up to three years (or even longer) to net the big fish. Remember, you won’t get results immediately, and expecting instant gratification will hurt your marketing success.
When COVID-19 first impacted the U.S., “The Late Show with Stephen Colbert”had to go without an audience. In lieu of laughter and cheers from an engaged crowd, Colbert told his jokes to an empty room—and, as empty rooms do, it didn’t laugh or clap back.
But just because Colbert couldn’t get feedback from a live audience, it doesn’t mean his viewers weren’t enjoying his content. In fact, people were still watching Colbert’s show as much as they did pre-COVID-19.
The reason? With or without feedback, good content is good content. Colbert’s target audience continued to enjoy his show, laugh at his jokes, and probably clap the way they used to—whether he saw them doing so or not—because the content was still good. Good content doesn’t rely on feedback because it’s focused on what the client wants, not what they bring to the transaction.
And that’s good news because tech giants like Apple and Google have started prioritizing consumer privacy. This means our marketing efforts may yield less feedback at certain stages of the sales funnel. We won’t be able to track email open rates, click-through rates, and other metrics as accurately as we once did—but that doesn’t have to mean the end of lead generation.
Making videos isn’t complicated, time-consuming, or expensive—but we don’t blame you if you think it is. In fact, 66% of marketers agree that video takes too much time.
No matter how camera-shy you are, though, you need to add video to your marketing strategy. Sixty-eight percent of marketers who use video note a better return on investment (ROI) compared to Google Ads. While we know most financial advisers are hesitant to use video marketing, we (and a lot of other marketers) have found that videos are actually pretty easy to create and do wonders for your marketing.
According to the traditional lead generation mindset, marketing is deemed successful as soon as you get a lead. But you can’t deposit leads in the bank.
To get real wins—i.e., loyal clients—you need a strategy that goes beyond traditional lead generation. Our Holistic Lead Generation strategy takes the whole client journey into consideration to help you generate more leads and convert more clients.
Traditional Lead Generation Only Gets You to the Starting Line
Only 22% of affluent prospects become clients within a week. On the other hand, 38% need a month to decide on purchasing, and another 32% need up to a year or more.
If your marketing goal is to get clients right off the bat, you’re probably going to be disappointed. Your prospects go through different stages of awareness before they decide to work with you as their financial adviser—and not all of them will start at step one. Your marketing goal, therefore, should be to take your prospects on a journey that will help them come to the conclusion that they have a problem and that you are the solution—no matter how long that takes.