Imagine this scenario: A prospective clients contacts you and asks if you’ll start investing their money without providing any context into their larger financial situation, their goals, or any other discussion.
Would you do it?
Most financial advisors wouldn’t. They would explain to this person that before leading any investments, they first need to identify a plan that reflects the broader strategy and the person’s overall financial situation and then execute on what needs to be executed on.
Isn’t that what makes you so valuable? That you think and then act?
Yet advisors don’t follow their own sage advice when it comes to lead generation efforts.
Instead of consistently working with gusto the lead gen plan they have in place, many advisors start new lead generation activities because:
“I’m going all in on webinars because I saw that somebody else did that and it worked for them.”
“My uncle told me that radio ads are coming back into play.”
Then they shift their budget, efforts, and focus to that new approach.
How does that get in the way? The problem is that this causes them to miss momentum and efficiencies. Why? A consistent strategy guiding specific actions has a higher probability of paying off.
So, the tip that nobody wants to hear is that lead gen success comes from consistency and activity.
Consistent action pays off in the short and long run, whereas stops and starts without a strategy are a waste of time, effort, and your reputation and confidence.
When in doubt, pause to take a step back and focus on your niche or your ideal client. Where do they hang out? Who else works with them? Where do they go for information? Who are the people of influence that they pay attention to both online and in person?
Anchor that information with an awareness of the problems you can solve for them and the trigger events that might be happening in their lives such as a marriage, new home, the arrival of a baby, college planning, retirement and estate planning, etc.
If you can understand the factors noted earlier about your ideal client and create a longish-term strategy, you’ll have a much higher probability of success.
How long-term? Consider at least three months to a year. We call this your strategic blueprint, and it allows you to build a foundation and structure to the activities that will make the best use of your resources.
This strategy is not a silver bullet because there is no silver bullet. What it will do is help you gain traction and momentum for filling your pipeline. Step back, strategize, and then commit to consistent activities within the plan for at least 90 days, if not six months.
If you find that you’re making a lot of stops and starts with your strategy or that you are inconsistent with time to work with it, block that time out on your calendar like you would any other important appointment.
Also make sure that you’re accountable to somebody, including yourself, for executing on that plan.
If you look at advisors who are consistently building their businesses year after year, what you’ll see is that growth is anchored with consistency for the activities that are going to fill their pipeline.
And then, of course, they are converting those opportunities.
So, the lead generation and sales tip nobody wants to hear is:
That’s it. There’s nothing jazzy or sexy in those activities, and no bells that go off every time you do something, but the slow churn of that activity and measuring is what will to fill that pipeline and help you build the firm of your dreams.
Financial Advisor sales training doesn’t have to be uncomfortable. Genuine Sales teaches the fundamentals for success without pushy tactics or high pressure pitches.