Trending
Is your marketing a revolving door? I often hear advisors say they've invested big bucks in marketing but have little to show for it.
One advisor told me he’d spent $80,000 and didn’t land a single client.
When I hear stories like that, I picture a revolving door -- prospects come in, then they just walk right back out.
Most advisors settle for a 10-40% conversion rate, thinking that’s normal.
If they’re converting only 2 clients a month, that means 8 potential clients walk away.
If the average client is worth $10,000 per year, that’s a huge loss over five years.
When I put it that way, they suddenly see the hidden cost of letting leads slip away.
So, how do you stop the revolving door and boost your conversion rate?
It starts by focusing only on high net-worth clients -- those who are truly your ideal fit.
Most advisors engage in general marketing, attempting to create awareness by saying, “We’re here for all your financial needs.”
But here’s the thing, a general approach won’t bring you a steady stream of ideal clients.
The “please consider us” message simply won’t attract the ideal clients you want.
Is your marketing truly reflecting your expertise, or are you just trying to be seen?
This mindset can even seep into your sales consultations also.
Advisors think that by sharing knowledge upfront, they’ll prove their value and close the sale.
But that often backfires, leaving clients to want to “think about it” or “discuss it with their spouse.”
Or worse, they take the free advice and shop around.
The solution? Become a “Trusted Authority” in your niche.
Trusted Authorities don’t put themselves out there just for exposure.
They attract ideal clients by focusing on a specific problem and owning it.
That’s how they become the “go-to” person for that issue.
As a result, every client who comes in is pre-qualified -- they’re there because they need a solution to a pressing problem.
If you’re converting fewer than 4 out of 10 qualified prospects each month, it’s time to change your approach.
Think like a Trusted Authority -- and stop the revolving door.
Think of your marketing strategy like fishing. If you’re using the wrong bait, you’ll only catch the occasional fish. By using the right bait that speaks to your ideal clients’ needs, you’ll have a more consistent catch.
If you’re ready to shift your approach and become the Trusted Authority to your ideal prospects, order your complimentary book and consultation below.
Related: Why Your Expertise Can Backfire With a New Prospect
Get Ari’s 6 best-selling books for FREE 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 books "Are You Chasing Ghosts", "Trusted Authority" and "Trust In A Split Second" have become instant best-sellers among financial advisors worldwide, get your free books here.