Oftentimes financial services professionals find themselves knowing they need to generate new leads but are uncertain about how to do it.
Do you feel confident in your ability to generate new leads? If so, are you 100% satisfied with the number of new prospects your financial services business is attracting?
Or do you feel like you don’t know how to generate new leads? Or that you don’t have the time to figure it out?
I have heard from many financial services professionals who don’t have a clear understanding of how to generate new prospects, and instead of actively attracting the ideal clients they want, simply hope they show up at their door. I have heard from others who are so busy running their financial services businesses and serving clients that they feel they don’t have the time to devote to generating new leads.
Or what’s worse, they ignore lead generation until their business suffers, and start acting out of panic, without a plan. Like using a defibrillator when someone has a heart attack – “Help! Revive my stalled business!” This is how many people market. They wait until the situation looks dire, and think “Oh no! I need clients! Help! Quick!” Then business picks up and they forget about marketing and neglect it again. It’s easy to fall into a cycle like this. But let me tell you, this is not the way to go if you want to build the most successful business possible.
Have you ever gotten back into an exercise routine that you had neglected? That loss of confidence and familiarity at the beginning is similar to how it can feel if you’ve neglected to create a marketing plan or if you haven’t looked at it for a while. You might even feel as though you forget what to do. But like muscles we neglect when we skip our gym routine, once you start again, you start to feel more comfortable taking consistent action.
If you’re uncomfortable with how you take action marketing, it can be worthwhile to explore why that is. Is there something you feel you should be doing that you are neglecting? Or doing something that doesn’t feel natural or authentic in how you are going about your marketing efforts? For example, are you a small business owner who isn’t well versed or comfortable in marketing and sales so it always feels like an uphill battle?
The first step is narrowing down and focusing on exactly who you want to attract as your ideal clients.
The next step is looking at how you currently generate your ideal clients and where you are attracting them from. Where are your best ideal clients coming from? From existing clients? Professional referral sources? CPAs or estate planning attorneys? Social media? Other strategic partners?
From there, look at what you can do to enhance that specific referral channel. If your best ideal clients are coming from client referrals, when was the last time you looked at your top client list to see if there are additional conversations you can have? Is there anyone you want to take out for breakfast or lunch to have a conversation with about asking for introductions? Or even without investing extra time and money are you letting people know about your vision for ideal clients and asking your best clients for referrals in client meetings?
I’d like to tell you a story to illustrate how powerful it can be both to take action to generate new leads, as well as how impactful it can be to drop the ball and see the negative effect it has on your business. I have a client whose ideal clients are retiring from a specific company in Southern California. He shared with me that previously he had always asked his top clients for introductions to other potential clients, and it was a very successful strategy. In fact, he would get 10-12 introductions per client that way. He felt like his business was going well, and unintentionally stopped asking his clients for introductions. And guess what? He stopped getting as many referrals! I wanted to share this story to help you understand how important it is to stay aware of where you are getting your best results with new leads, and continue to nurture the sources that bring the best results.
If you’re uncertain about how to generate new leads, or you’d like support with creating a plan to make this happen more effectively, I would love to speak with you. Email me at firstname.lastname@example.org to schedule your free 30-minute consultation.