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Imagine you’re a business offering a service that 85% of the market don’t seem to want.
That’s not great. It’s also not terrible. 15% market share we can work with.
Now imagine 50% of the 15% who do want what you offer drop out of the sales process at the first step in the engagement.
That’s not so great.
Unfortunately, that’s the 85/15 story of advice in Australia.
On the plus side, it still means that between 18,000 advisers, there are still, if we divide fairly, 150 clients each.
That works, as long as some of those 150 don’t choose robo or some other new-wave option…
However, 50% of those don’t convert, maybe there’s a problem here?
Related: This Fee Conversation Had Me Mad As Hell
Correction. There are two problems here.
One is a marketing problem. The reason prospects don’t want advice.
One is an engagement problem. The reason more leads aren’t turning into clients.
Ok Enough of the doom and gloom. Let’s solve it.
The breaker here is simply realising the tweak that’s needed.
“Turning 15% into 85% since 2010”