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The idea of buying a list seduces many financial advisors. In the past week alone, 9 financial advisors told me they were buying leads.
And I get it: Outsourcing your lead generation to a third-party company is appealing.
But there’s a big, fat problem with buying leads:
It’s like putting all your money into a savings account that only grows your wealth by 1% per year. Worst part? It makes your job of persuasion even harder, and means you have to work harder for fewer shekels.
That’s the bad news.
The good news?
In today’s show, I reveal why buying leads is one of the worst things you can do, more effective ways to spend your money than buying leads, and how creating your own assets beheads your competition before they even have a chance with your ideal clients.
Listen now.
Show highlights include:
- Why buying leads is like stuffing your savings account for a 1% return (1:28)
- How to get highly qualified leads for as little $7.50 per lead (3:06)
- The weird way buying leads gives your competitors an unfair advantage (and better ways to spend your money to generate an absurd ROI) (7:29)
- Why gurus almost never market to you in the same way they teach you to market (and why this is tanking your results) (10:08)
- How to land 10-40 new appointments by only investing $1,000 in this “forgotten” marketing channel (15:57)
Related: Lessons From an Advisor’s First Six Months in Business