From the desks of Joe Bayliss & Roy Furr
We’ve spoken to 20+ new financial advisors over the past few weeks. And there was one common thread with all of these conversations…
They’re wasting a lot of money in marketing.
Their marketing channels were on autopilot. The messaging/copy was vague. Nobody was changing copy to get a different result. Nobody was tracking their leads.
It was a mess.
We even spoke to one firm who had spent an additional $1 million in marketing last year (on new FMO marketing initiatives) and had not generated one additional lead.
We’re trying to find the silver lining in the cloud for you…
This is your competition. And that’s actually pretty great news.
Because if you just do a few simple things, you will absolutely crush the competition and dominate your market. I promise you this — you also won’t waste ANY money on marketing — like most other advisors are doing every day.
Here are 5 simple things you can do to make your marketing dollars go a lot further…
Your copy matters most. Your potential clients are on Facebook, digital, TV, radio and so on. So, if you’re not satisfied with your marketing results, chances are the message is your #1 problem. Great copy comes from great copywriters. Sorry, but that means it’s probably not going to come from you, your media rep, or your FMO.
Track every lead. This enables you to hold every marketing dollar accountable. Moving forward, opinions get thrown out the window. Instead, you’re making data-driven decisions. And when you do this, your marketing becomes more efficient every day.
Conduct short inexpensive tests. When we launch a new marketing channel, we buy one, two, or three days. We believe if you put the right message in front of the right audience, you’ll often see results on day one. So there’s no need to make long-term commitments or spend lots of money until you know you have a proven winner. (Using this strategy would have saved the advisor we mentioned above a lot of money.)
Offer different ways for prospects to engage with you. Not everyone is going to feel comfortable engaging with you in the same way. So offer a variety of ways to start the relationship. That could be a free report, a webinar, a live event, a specific analysis, a retirement plan, whatever. Just get them engaged in any way you can.
Create a process to convert leads. In many cases, we’re generating thousands of leads for an advisor every year. Conversion percentages are all over the board. The most successful advisors pay very close attention to lead conversion. It’s not a one-time fix. It’s an ongoing effort to improve conversion — and it’s part of the conversation every week.
Are you wasting your marketing dollars?
We’re not a great fit for everyone. But if you’re serious about growing your business — if you’re really committed — and if you spend more than $250,000 a year in marketing, schedule a free copy review today.