Written by: Paula Taylor | Econnexx
Increase Your Earning Capacity With Effective Marketing
As a Financial services professional you don’t want to spend large amounts of time trying to convert a small percentage of leads into clients, especially when those clients you spent your time securing are not particularly profitable.
With effective marketing you can ensure you only attract your ideal client type and that your time is only spent dealing with specific prospects that are ready to become your client. By doing so your time becomes more productive and much more profitable.
Here’s how effective marketing makes your time more productive and helps boost your earning capacity.
Understand the Typical Needs of Your Ideal Client
If your ideal client type is high net worth their needs may relate to:
- Taking care of their Family
- Preserving and protecting their wealth
- Mitigating their Tax
- Finding a trusted partner to manage their wealth
By using the needs of your target client type you can tailor your firm to solely focus on addressing their needs, therefore becoming an attractive proposition to them.
Draw Clients to Your Firm
By focusing on a set client type your message can become much more specific. Consumers seek out firms who specialise in the services they want. They want to work with the experts, and the firms who know the client type they want are able to develop and publish the type of content that attracts their interest.
It’s important to remember, consumers don’t relate to industry worded material, they want to see content that helps them understand the benefits they can get from a service.
Use Content In-Line with Inbound and Automated Marketing
In essence, this method of marketing is about:
- Finding out more about the type of client you want
- Creating content that will appeal to their needs and wants
- Distributing this content on the channels they can be found
- Capturing their attention and their interest
- Utilising downloadable offerings to capture their details
- Using emails to deliver personalised content offerings and tailored information
- Nurturing their interest from curiosity stage, to sales ready stage.
Score Your Leads on the Data Gathered
The data provided through inbound marketing and automation software means you can create a lead scoring system that enables you to accurately assess the quality and progress of each lead you have generated. You can then discard the leads who have shown little interaction. You can also single out the leads who have shown more interest in a certain service than others and target them with more specific, personalised content.
Only Engage with Sales Ready Prospects
The sales ready leads created through this process have already built up a trust in your firm before they have even spoken to you. This is because the content they found helpful and the offerings they continued to download have distinguished your firm as a source of knowledge and expertise.
When ready, your prospects will contact or request to be contacted. And when it comes to engaging with these prospects they already view your firm as their obvious choice, making it much easier to secure their custom.
From a recent analysis of 30 small firm clients we found that we increased our clients annual sales turnover by £126K for an initiial year one investment of £11,400. (Please note econnexx are paid 20% of this as a performance related fee).
Feedback from these firms attributed the success to the following:
- focus on a target market
- increased content distribution and email marketing
- gaining trust from potential clients through content marketing
- focusing on sales ready leads.
The financial advisers/firms who choose to benefit from the most effective financial services marketing methods available will see significant, long lasting benefits.
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