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If you’ve been in the industry for a while, you know that most of your success can be attributed to two things – generating leads and converting them into paying clients.
When you started out, you probably relied on “tried-and-true” techniques such as cold calling, in-person networking, and taking coffee with anyone who would fit you into their schedule.
New advisors don’t have many clients to manage, so it makes sense for these activities to take up a majority of their day.
While these tactics can work, a major blind spot emerges as you get more established in your career.
As your book of clients increases, you find that your time is much more limited then when you had very few clients to manage.
Since adding a new client to your book means less time you can spend prospecting, you inadvertently end up looking for “short cuts” by buying leads that are often low quality, causing you to then increase your time trying to chase them.
This creates a vicious cycle, eventually leading to burn out and your business plateauing, and eventually declining.
Essentially, you’ve arrived at a crossroads – either push past your limits to grow, or think small to retain your sanity.
To get out of this conundrum, you need to rethink everything to preserve your most asset – time.
You see, it’s a common misunderstanding that lead generation and conversion are one in the same - but this couldn’t be further from the truth.
Lead generation, when done through prospecting (manual labor), is extremely time consuming and only serves as a way to filter out the unqualified tire kickers.
In a low volume/high margin business like yours, you need to shift your mindset to an “inbound” demand model were your qualified leads already trust, before your first consultation with them.
To take your business one level up, you need to put a high value on your time and accept that manual prospecting might now be below your paygrade.
You may be thinking: “If I don’t reach out to prospects, where will my leads come from?”.
The answer is sophisticated, yet simple.
Create an inbound trust-based sales and marketing system that operates automatically in the background, bringing you qualified leads onto your calendar, instead of you having to go hunting every time you need a new client.
To do this, you need to:
Shift your thinking from outbound to inbound
Stop hustling, chasing, and networking for clients -- instead attract them to you by becoming a Trusted Authority and focusing on their problems instead of your offerings.
Believe you can learn to make the sale on the very first meeting
Instead of persuading, educating and doing free consulting and planning (which will often trigger: “I’d like to think about it”), take a diagnostic approach and dive deep into their issues so you can build trust in one single conversation (The One Call Sale).
With a problem-centric marketing (rather than solution-centric) process, you can finally breathe a sigh of relief knowing that you can scale and grow your business without having to sacrifice your time in the process.
When you master this, you will have a sophisticated system that feeds you for life.
To learn how to create your own inbound trust-based lead generation model, order your complimentary book and consultation below.
Get your Free copy of Ari’s best-selling book "Trust In A Split Second!" here and you’ll also receive a Complimentary Sales and Lead Generation Consultation (value $995.00). Ari Galper is the world’s number one authority on trust-based selling and is the most sought-after high-net-worth new client acquisition expert for financial advisors. His latest book, “Trust In A Split Second!” has become an instant best-seller among financial advisors worldwide.
Related: Why Is It So Hard To Make the Sale?