What happens when the leads come in?
It’s often thought of as two separate paths: either develop your core brand and start positioning yourself in the market, or invest in a turnkey system that connects you with leads. But more often, the two go hand-in-hand.
That’s because when the leads start to come in, they need more nurturing than the referrals or organic web prospects that most advisors are familiar with. To understand why, it can be helpful to put yourself in the shoes of someone being passed through one of these systems.
A suitable prospect who agrees to be connected with an advisor can have any number of reasons for doing so. But their commitment level at this time is very low. They have yet to speak with anyone, they do not have a personal or professional connection, and they have little or no conception of your practice to engage them. An unsuitable lead, however, may be more likely to make that first meeting—either because they’re looking for a quick solution or because they are not at an asset level that gives them the widest variety of options for advice.
While both brand development and purchased leads come with a price tag, the latter has an immediacy appeal that can be hard to pass up. What often happens, though, is the time gained at the front end is lost in dropped appointments and less-than-viable prospects.
On the other hand, having solid market positioning and a set of brand tools in place can help capture more of those opportunities.
For the viable leads, it means you have something to reach out with that immediately establishes your value proposition and begins to form a connection. If they decide to look you up online, they’ll see more to support and deepen that initial impression, and as you usher them through a structured meeting process of scheduling, reminding, hosting and following up, you can strengthen that trust at each touch point.
For the remaining leads, these same touch points serve a second purpose: to filter prospects by clearly defining your natural market and service level. The result is a culled group of potential clients that are more likely to sit down with you.
