A well-planned lead generation strategy can create a steady stream of prospective clients.
“Consistent marketing leads to consistent appointment activity,” says Keith Weber, a certified financial planner and president of Weber Consulting Group in Fort Collins, Colo. Too often, advisors get into a vicious cycle of planning an event that generates leads — and then forgetting about marketing until they run out of prospective clients to meet with.
Follow these tips to develop a consistent lead generation strategy — and a consistent flow of prospects — for your practice:
> Define your ideal client
Know who your target market is, Weber says, so you can create an effective lead-generation strategy that fits that market.
Ask yourself: Who are my ideal clients? What are their interests? What activities do they enjoy?
While assets can be one factor in identifying your ideal clients, Weber says, it’s not the only factor. It’s also important to ensure you share these clients’ interests and that you can get along with them on a personal level.
Although you are narrowing your focus by identifying a target market, you don’t have to limit yourself. Weber suggests identifying three to four target markets as the focus of your business.
One of those target markets can be your current book of clients, says Weber. Unless you have 100% of a client’s assets he or she is still a prospect.
> Assess your strengths
Decide how to meet prospects by thinking about what you do best.
Some advisors are excellent networkers while others are great public speakers, says Gerri Leder, president of LederMark Communications LLC in Baltimore. Others prefer speaking to people on the phone.
“The good thing about marketing an individual practice,” she says, “is that you can play to your own strengths.”
> Choose your events
Flesh out your lead generation strategy by planning out several initiatives to meet with your ideal potential clients.
“Identify three to five ongoing and recurring marketing activities that you will direct at each [target] market,” says Weber. For example, if one of your target markets is business owners, you might join the local chamber of commerce, while also providing a seminar series focusing on pensions.
> Create an outline
Once you know what activities you would like to include as part of your strategy, list all the necessary steps to make those events successful.
Outline everything from getting compliance approval to sending invitations and booking a guest speaker, says Weber.
Creating a list will help you to stay organized with details, particularly if you are running multiple events at once.
> Mark your calendar
To keep your strategy effective and organized create a schedule.
Take a half-day, or even a full day, to map out your marketing plan on a calendar, says Weber. Mark the dates of all your marketing initiatives, such as seminars, and the tasks associated with them. Write down when the tasks have to be completed and who is responsible for them. By doing so in advance, you won’t waste any time trying to remember what needs to be done next or whether you’ve forgotten anything.
Next: Developing the right approach to lead generation
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