financial advisors 5 marketing steps

For Financial Advisors . . .

Activate The Power Of Marketing Multiplication By Mastering The Art Of Converting Contacts To Clients 

If your financial advisor website is like most, less than 2% of visitors will become marketing prospects.

From marketing workshops or webinars, you are lucky to convert 10% of attendees to clients.

Out of the dozens of potential COIs (Centers of Influence) you meet, only a very few are likely to provide a flow of good client referrals. 

Financial advisors, discover here 5  Steps that increase conversion and lift your return on investment.

When it comes to financial marketing many advisors and executives invest the majority of their time and money to generate a large flow of traffic to their website, add hundreds of LinkedIn connections, or meet with dozens of potential COIs.

They spend lots of money trying to “get in front of lots of prospects.”

There is a Better Way . . .

Very few advisors reflect on the quality of the traffic or prospects.

Few consider how closely they match their ideal client profile.

Few grasp how to systematically manage and improve their client conversion system.

That is, until they have thrown a large amount of time and money on marketing with little to show for it.

The Better Way . . . in Action

On the flip side, I worked with an advisor in a rural area of the south who had spent a couple years building up his marketing or “warm” list with some results.  Now he was ready to get serious about adding clients over the next 12 months and beyond.

I interviewed him to find out more about his practice, investment process, and examples of his best clients, and to discover potential hot buttons for the list. We pinpointed a segment of the list that most closely matched his retirement income profile of target clients.

Twelve Percent Requested A Meeting Within 7 Days

I created a one-page “meet-me” direct mail letter and we fired out a first wave to a segment of the list…and the phone stated to ring – 12% called within 7 days to request a meeting!

A Total of Twenty-Two Percent Requested a Meeting a Few Weeks Later

Once we finished the campaign a few weeks later he saw an amazing 22% (no typo) of the marketing list requesting a meeting. For months he was busy with proposals for hundreds of thousands of dollars in business from this simple conversion campaign.

Good News for Financial Advisors Who Are Looking for Higher Conversion from Their Marketing Investment

So the good news for financial advisors is that there are dozens of strategies to call on starting with capturing the names and emails of as many as possible of your visitors.

In addition to surveys and “meet-me” letters, advisors can choose from a multitude of options to help convert contacts to clients. These range from webinars, workshops, and events to free reports, articles and blogs, referral and marketing programs, including through COIs and captive lists, and many, many more.

How can advisory firms multiply the number of new clients per year and the ROI on their business development time and money?

For Financial Advisors, 5 Step Process  to Raise Your Conversion Rate

Step 1 – Track

Start tracking the sources of new names on your marketing list.

  • Find out the reasons why they are converting to a client and
  • Understand the estimated lifetime value of each client.

Ideally, different landing pages and offers and also campaign sources are built into your marketing.

Step 2 – Analyze

Where are your conversion rates highest?

And where are your best clients coming from?

Perhaps, for your practice one piece of content on your website and a key COI will account for the majority of your best clients.

Step 3 – Test

Based on your tracking and analysis, proactively try one or more ways of improving your conversion rates.

Many advisors take their best piece of marketing content and push it out to a warm list or through a proven referral channel such as a friendly COI.

Others offer a free financial plan to prospects they would like as clients.

By using marketing to get the word out they improve the flow of their ideal clients (along the lines of our case study of the rural advisor above).

By testing, we have seen advisors start small with a single letter or call and build on success.

Step 4 – Systematize

Many advisors fall into the trap of one-shot marketing.

They try something once. If it succeeds, they fail to set up a system to make sure it happens again and again.

The idea is “the system works so you don’t have to” . . .  if you keep an effective client marketing and conversion campaign running.

Step 5 – Iterate

Even the best business and marketing systems, left alone, will eventually stop producing the desired result.

Three ways of acquiring clients today will likely become two next year.

Instead, take advantage of a quarterly process of working Steps 1-4.

Or, better yet, hiring someone to do it for you could mean that three ways of acquiring new clients with high conversion rates will likely turn into five or seven ways in the coming years.

Discover how Bob can help you take advantage of these 5 key conversion steps.

Find out how to multiply the new clients added to your financial advisory practice: Contact Bob directly to request a no-obligation consultation at

About Bob Hanson

Principal, Client Attraction System for Financial Advisors
Bob Hanson has worked with hundreds of financial advisors, professionals, and companies to drive documented results of 300% in new prospect flow within a week, a 70% increase in annual income within 12 months, and a boost in sales of 5 times for a firm in a little over 36 months. In addition, Bob is a Webinar specialist, a White Paper expert, and an experienced Centers of Influence strategist who helps marketers tap the full potential of these powerful marketing tools.

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