A Financial Advisor Can be for Life, not just Christmas!

I’ve delivered well over 6,000 leads for Financial Services / Financial Advisors over the past 6-12 months and wanted to share my learning and observations.

These leads have all come from Facebook, too.

Understanding the Customer is key. Really digging deep into:
– Who they are
– What they are interested in
– What are their pain points
– What are their desires
– Where do they spend their time online
– What’s going on through their life at the moment
– What do they want for the future

The last 2 points are key, as it will open up the door to further opportunities. By asking them what their ideal future looks like, for example, the type of house they want, cars to drive etc will enable you to work backwards and help them achieve their goals. Get creative. Focus on the end goal for your clients, not the product or service you are offering.

Finding out what is going on in their life at the moment will also carve out opportunities. Rather than pushing “buy my product”, use quizzes and engagement based campaigns to learn more about your audience and you will open up many doors. It’s more long-winded, but you’ll reap the rewards in the long run. We also see lower CPA as a result, too.

Focus on the bigger picture rather than an initial sale. An FA can be for life (not just for Christmas!).

The reason the last 2 points are vital, is because people don’t go on Facebook to buy. They use the platform to socialise. Therefore, they are certainly not going to buy life Insurance from you just because you’ve put an ad out.

Life insurance is boring. People don’t want it, but they need it.

You need to grab their attention. What offers or hooks could you use? Could you offer a regular reward that will appeal to them? For example, free Starbucks coffee every month (you can, of course, target people that like coffee and within your demographic). This would be a small cost to you, but a significant gain and value you add to your client. Think different than the box standard £20 M&S or Amazon voucher.

If not using an offer, focus on engagement based campaigns to add value. Quizzes and surveys work well, as do webinars and guides. Over deliver on value.

Find ways to leverage emotion with the value you are adding and link it to your product or service.

If you offer a number of products or services, such as life insurances, pensions, investments, mortgages, focus on the easy wins. Although, you can deliver leads for each of these Top of Funnel, I would focus on one and use your back-end systems to up sell the rest. When there is more risk and money involved, you’ll need to build a lot more trust before getting any conversions, especially when it comes to pensions, mortgages and investments.

Finally, follow up relentlessly. A lead isn’t a done deal. Leads that come from Facebook tend to be a lot colder, however it’s all about the follow-up. Don’t assume they don’t want what you are offering unless they say no. Take an omni-channel approach to push people further down your sales funnel (Within GDPR regs of course).

I’ve used the above ideas in other niches too. Comes down to testing and thinking out of the box.

Would you like to know more? Book a call directly with Hitesh, MD of L2W Digital below:

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