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7 Lead Generation and Client Acquisition Strategies


7 Lead Generation and Client Acquisition Strategies

Financial advisor prospecting techniques include both cold and warm strategies.

Cold strategies are costly, and are the least effective, while warm strategies can take more time, but are generally more successful.  An effective financial advisor marketing plan includes warm connector and/or expert strategies.

Connector strategies focus on the relationship, while expert strategies focus on authority in your niche market.

1. Relationship & Referral Marketing

One of the most cost-effective warm techniques is online and offline relationship and referral marketing.  Relationship marketing is effective, because people do business with those they know, love, and trust. It is also effective because the vast majority of people make purchasing decisions from an emotional state, and then justify it with logic.

There are a variety of relationship marketing strategies that work.  Some examples include one-on-one meetings, telephone calls, client events, heartfelt notes and cards, or emails and newsletters. Heartfelt cards and notes are powerful because the process is easy, and people are starved for connection.  We have seen amazing results from consultants, investment professionals, and small business owners who have implemented this strategy.

For maximum exposure and results in your relationship and referral marketing, access Bill Cate’s insight here: Massive Leads through Warm Introductions

2. Networking

Networking can either be an effective financial advisor prospecting technique that can grow your business, or it can waste your valuable time.  In today’s world, there are more networking groups than ever before!  Some groups are comprised of small business owners who are making little or no money, and can’t afford anything that would change their situation.  Unless you are financially free, or operating as a charity, attending these groups is not the best use of your time.

Other networking groups are comprised of successful entrepreneurs, small business owners, and executives.  Connecting with these members can produce amazing results in your business.  Trade shows can also be a very effective networking option if your ideal client is in attendance.

For maximum exposure and results in your networking efforts, check out Michael Goldberg’s recommendations here: Knock Out Networking: How to Generate More Leads, More Prospects, More Referrals and More Business

Related: The 7 Traits of Highly Successful Financial Advisors

3. Feeder Workshops

Feeder workshops are another excellent lead generation strategy to include in your marketing orbusiness plan.  They are effective, because they allow you to leverage your time (replace the 1-on-1 with 1-on-30), and produce significant returns for your effort.  Examples include community events, community feeder workshops, and lunch-n-learns.  A great approach is to present a lunch-n-learn or overview presentation to a group of 30-50 ideal prospects.  This provides an opportunity to get exposure, share your message, grow your funnel, and weed out undesirable prospects.  Many professional service providers have used these events to leverage their time, attract more ideal clients, and dramatically increase their revenue.

For more insight on reaching your ideal prospect through workshops, listen to Tom Hegna’s recommendations here: Lead Generation through Social Media, Seminars, and Technical Expertise

4. Social Networking

You can no longer ignore social networking.  Ideal channels include LinkedIn, Facebook, YouTube, Twitter, and Google+.  Once you know your ideal client, you want to identify what social media platform they access.  This can be found while conducting research.  The key is to build a relationship, connect with them offline, and ultimately work with them.  Prior to beginning a social networking process, create your business plan, and determine your lead generation strategy.

To learn how to master social networking, listen to Jeremiah Desmarais’ insight here: The Secret to Generating New Prospect’s Daily Using LinkedIn + Cold Emails

5. Socrates Wisdom

This is one of the most powerful strategies.  It includes creating questions, and interviewing clients in your niche market, interviewees (these are prospects that may never work with you), and referral partners (referral partners include centers of influence and reciprocal referral partners). When you know what your target market wants, how they want it and why, you can deliver it.  The result: you become the go-to person, and create a client attraction machine.

A great insight to implement Socrates wisdom can be found in Lloyd Lofton’s insight here: Predictable Buying Behaviors to Generate More Leads

Related: Insights on Marketing to the Affluent

6. Article Mania

Once you identify the topics that your niche market is interested in accessing, you can write about and publish articles on those topics.  These articles can be shared with clients, prospects, and referral partners who can read and share them with others.  They also can be shared on social media outlets.

Always put a call to action at the end of your article.  Examples include: “call us to schedule a free consultation” or “attend a workshop.”  This process is similar to what I am doing in this article. Some of you who are reading this article want to learn more financial advisor prospecting or client acquisition strategies so you can grow your funnel of qualified prospects.

7. To learn the 7th strategy as well as more insight on lead generation and client acquisition strategies, get your free pass to this year’s summit here: Lead Generation Summit

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