Online contact strategy tips for financial advisers

By Ryan Smith on May 25, 2018

Helpful tips to help financial advisers attract more leads.

When an investor becomes interested in procuring the services of a financial adviser, they become a lead. And when they shortlist you as a possible provider, they become a prospect. However, the final step of converting them to a customer is sometimes the most difficult of all.

Increasing conversion rates – that is, turning a higher proportion of leads into prospects and prospects into clients – will mean an improved return on your marketing investment and an increase to your bottom line.

It will also bring additional benefits, such as improving your profile and reputation. This will, in turn, bring yet more customers.

A virtuous circle like this can have a profound effect on any small advisory business. So how can we set the wheels in motion? Here, we run through some essential contact strategy tips for getting the best from your leads.

1) First impressions are everything

The digital world has wrought more profound and fundamental changes in business strategy than we realise. In days gone by, you, as the service provider, were responsible for marketing outreach. You controlled the communication in terms of when and how it happened.

Today, the first you will know of a prospect is when they visit your website or social media page. And if they don’t like what they see, they will come and go without you ever having been aware of their existence.

The back button is, in this case, your worst enemy, as it will lead the prospect to a search page full of other providers. When you’ve got them so close that they’ve actually clicked on your site, it’s essential that you do everything you can to keep them there. That means a well-designed, clear webpage that will draw visitors in with its engaging content and clear calls to action.

2) Build trust and credibility

If clients are going to share their financial history, along with their hopes and aspirations, with you, it should be fairly clear that there are two fundamental conditions that need to be met:

  • They need to trust you
  • They need to be confident you know what you are talking about

Trust and credibility are the single biggest deciding factors for selecting an adviser.

You know that you are trustworthy and that you can deliver valuable advice. But how can you demonstrate that to clients in a way that doesn’t simply sound like you’re blowing your own trumpet?

There are numerous ways of doing exactly that on your site without overselling yourself. Make it clear that you are authorised and regulated by the Financial Conduct Authority, and include your reference number – have this clearly indicated on the homepage. Visitors should not have to go searching for it, and frankly, they will not bother to do so. Also, have a page that details your specific credentials and qualifications.

You can demonstrate your credibility by creating insightful and interesting content on the topics that matter to your clients. Blog posts are fine but don’t be afraid to push the boat out a little: two-minute videos in which you talk through a topic will generate more interest and allow people to see the real you.

The other thing to remember when it comes to trust and credibility is that while prospects will pay a degree of attention to what you say, the people they will really listen to are those who have been there and done it.

Think about it. If you are looking for a service provider of any sort – say a car mechanic or a plumber – the first thing you do is ask someone for a recommendation. The power of recommendations and social proofing is immense. Take every opportunity to gather client feedback and to share it publicly on your website and social media channels.

3) What makes you different?

One of the biggest challenges you face is one of competition, both from other financial service providers and advisers, as well as from digital alternatives. So what is it that makes you stand out?

In answering this question, don’t think so much about yourself but your clients. What is it that they are looking for in a financial adviser? What are their worries, concerns, questions and aspirations? Now you need to demonstrate that you can provide the solutions and the answers to their questions better, faster and more cost effectively than anyone else.

This isn’t something you can achieve overnight. But by improving your understanding of client needs and by drawing up more detailed personas, you will get there.

Do it effectively, and your target customers need never hit that back button again.

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Lead Tech provides high-quality leads for the financial advice, equity release, retirement and private medical insurance markets.

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