Reasons you might not be attracting leads

Everyone in financial services understands that advisors generate 75-90% of all their new business from referrals. That doesn’t mean they’re generating enough revenue however, as most advisors will tell you they want more referrals, more leads, more clients. In this post, I look at reasons you might not be attracting leads.

You’re not selling a story

People want stories. They already know advisors “sell” financial products, some even “prepare financial plans”, but few people truly understand what an advisor can really do for them. They don’t often know the answer to the three big “why” questions: Why you? Why me? Why plan?

Your story should give people what they need to be able to identify you and your services as different, better and highly relevant to them.

You don’t have any credibility

Credibility is proof of expertise and that you understand your audience and their needs. It’s proof that you have a process, a game plan, to help them. Credibility can be exhibited in several ways: via social media, a compelling and rich website, valuable highly relevant content, and a clear niche audience and expertise.

You’re not commited to lead generation

Lead generation requires a significant commitment. This commitment comes in the form of time and some form of financial commitment. Lead generation is a serious commitment. Done well it’s highly profitable. But to do it well it requires an adequate investment of both time and money. It’s why so many growth consultants focus on referral programs. It’s easier to get commitment from advisors to invest and implement a referral program.

To build a highly successful lead generation program, you need to implement then enhance as you work on perfecting your lead campaign. Lead generation is a process. It’s a process of better understanding your value, your audience and how to best entice and engage them.

Your niche isn’t clear

Many advisors fear that pushing a ‘niche’ alienates them from potential clients.

Most advisors have diverse books of business and while they know whom they enjoy working with most, revenue typically trumps targeting only ideal clients.

When advisors identify and market to their ideal niche, a lot of wonderful things happen, including accessed to many more opportunities and ultimately, and increase in leads generated.

I hope you’ve found this article on ‘Reasons you might not be attracting leads’ useful. If you’re a financial advisor looking for help , please feel free to get in touch here. Myself and my team are more than happy to help.

Have you joined our Facebook group? The group is for Financial Advisors and Professionals who want more leads and sales through an effective lead generation system.

We encourage all members to ask questions, solve problems and provide advice.  Join the group here.

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