July 9, 2015 Greg Preite

Financial Advisors and Digital Marketing Part Four: Converting Leads Into Clients

In this 4-part series, you have learned that online marketing is a process.   Here's how you take the leads generated in steps 1-3 and turn them into clients!

In the last of our four-part series on digital marketing for financial advisors, we again refer to our fictitious agent, Stan.  Stan launched an online marketing campaign without first identifying his goals, and then he didn’t measure his results with the correct key performance indicators (KPIs). When Stan didn’t see an immediate uptick in his clientele, he abandoned his marketing strategy along with all of the energy he had invested into it.

You have learned that marketing is a process, in which you build brand awareness, drive traffic to your website, and generate leads.

Now we have arrived at the part that would excite Stan

Lead Conversion for Financial Advisors

If you’ve made it this far in the marketing process, your clients are now familiar with you and your services. Therefore, the goal of your content at this point is to convince your leads to choose you. You will do this by further educating them about your services.

  • Create content that convinces leads you are their best choice.
  • The content should be educational in nature.
  • Content should answer questions and concerns that leads might have about financial planning or financial products.
  • Content should not overtly push a sale.

The types of content best suited to lead conversion are: personalized emails, videos, graphics, and infographics which detail your success rate.

At this point in the marketing process, you should notice an increase in your clientele. But you still can’t just assume your campaign is working! Stan might have been happy to see his appointment book filling up, but by now you know that there is more to marketing than that. Continue tracking your KPIs, so that you can further hone your strategy. Make sure to observe:

  • Conversion rates for each piece of content. What is the ratio of leads contacted to converted clients?
  • What is the average “time to close”? How long does it take to convert a lead into a client?

With all of these leads converting to clients, Stan would be pretty happy right now. So does that mean you’re finished? Not so fast! There is just one more step in the marketing process that we should discuss.

Once you have gained new clients, your online marketing campaign can serve as an important client retention tool. This is yet another way to boost your profits. Keep your clients engaged with you by contacting them regularly, and offering them valuable content such as:

  • blogs which discuss industry trends
  • free e-books, seminars, or webinars
  • exclusive offers just for current clients

Remember, everyone likes to feel special, and people like to do business with professional who treat them that way viagra online schweiz. Work to inspire loyalty in your clients, and you will enjoy repeat business from them for years to come! Remember to use the following KPIs to track your success rate:

  • retention rate
  • percentage of clients who schedule repeat consultations
  • revenue from selling new financial products to existing customers
  • referral rates – when existing clients refer new clients to you, this is an indication of their loyalty

Now that you understand the five unique goals of an online marketing strategy, identify areas in which your practice could use some improvement. Or, you might choose to start at the top of the marketing funnel and employ all five stages of the process. Remember to design your content so that it is suited for each goal, and measure your performance by the correct KPIs. Keep adjusting your methods according to those KPIs, and you will master your online marketing strategy.




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