From the desks of Joe Bayliss & Roy Furr
Could you convert far more prospects into clients if you systematically built an entire campaign to drive every conversion?
The answer is a hard “yes!” And in this post we’ll tell you why.
How many times do you need to “touch” a prospect before they actually convert into a client?
We recently did some research about this topic, and found answers all over the board. But one thing is consistent: it’s definitely not one time. In fact, it’s not even a few times.
The answer is at least several times.
So, if it takes several touches for a typical prospect to convert into a client, how does that impact your marketing strategy?
Today, many advisors (like many business people) think of marketing as a one time event. It’s a digital ad, Facebook post, radio commercial, TV show, a webinar, or a live event. It’s one shot – it effectively starts a client relationship, or it doesn’t.
But there’s no strategic plan to follow-up with all prospects after this initial marketing. There’s no process for the next touch, and the next, and the next, until that prospect chooses to disengage or to become a client.
Typically, what happens here is less than half of the prospects that respond to a marketing message convert to a first appointment. Even fewer show up for a second appointment. And only a small percent become clients.
Unfortunately, the majority of the prospects that don’t convert into clients get tossed into a pool of other prospects (your database) and are largely forgotten. In a best-case scenario they receive emails as haphazard attempts to re-engage their interest.
But what if we took an entirely different approach to our marketing strategy? What if we thought through every single marketing opportunity and created an entire campaign?
In this case, we’re thinking ahead and systematically setting ourselves up for success by touching the prospect several times.
It starts with an engaging marketing message and irresistible offer. This is delivered through targeted media that allows you to reach new prospects. When they respond to the offer, they are taken through a systematic process to qualify or disqualify them, and convert qualified prospects into clients.
And if qualified prospects engage but don’t end up becoming a client, there is a baked-in series of prompts and communications that are designed to re-engage the prospect.
If a prospect stops what they’re doing to click on a button or call your office to respond to your offer – don’t fool yourself – that is a very significant act. They were interested in what you had to say or what you had to offer.
So even if they don’t immediately convert into a client – they should not be cast aside. They should continue to be treated like a great prospect until and unless you’ve disqualified them or they tell you that they’re no longer in the market for your services.
If you’d like to learn more about how we can help you convert more prospects into clients, schedule a free Marketing Audit by clicking HERE. In just 30-minutes, we’ll share objective and straightforward advice on your strategy, marketing channels, marketing copy and offer.
We only work with financial advisors, tax consultants, and estate planners who invest more than $250,000/year in marketing.