Is Your Marketing System A Revolving Door?
When I hear of advisors spending $80,000 on marketing and getting zero clients from it, as one advisor shared with me recently, I often envision an image of a revolving door in my mind.
Prospects cycle through and exit as easily as they come in.
Most advisors accept an average conversion rate of prospects-to-clients between 10 – 40%, which they think is normal.
But I often point out to new advisor clients that for every 2 clients they convert each month, there were 8 other potential clients who came in but went out… and if their average annual client value is around $10,000, then on average they’re losing $300,000 every 5 years… they quickly see the other side of the coin and its hidden opportunities.
How do you stop the revolving door from spinning, where prospects come in and go out?
You stop it by targeting your ideal high net worth clients only.
Instead of targeting ideal clients, most advisors are doing “be seen” general marketing, which is attempting to create awareness or consideration for your business merely by promoting its existence.
The basic marketing message boils down to: “We are X financial advisory company and we can provide Y advisory services for all of your financial advisory needs. Please consider us”.
That won’t attract a flow of new inbound ideal clients.
Many advisors take this general mindset into their sales consultations as well, where they think that by sharing their knowledge and solutions pre-sale, it will prove their value and help convert a prospect into a client.
But all this does is encourage the prospect to say “I need to think about it” or “I need to discuss this with my spouse”, or to take that free valuable information and use it to shop around for another advisor.
The best way to solve these two problems is to become what I call a “Trusted Authority” in your market niche.
A trusted authority does not attempt to create awareness or consideration for their business simply by putting themselves out there. They attract only their ideal clients, by positioning themselves around a specific problem and addressing it directly in their marketing. This makes them the authority on, or the “go-to person” for, that problem.
As a result, every prospect that has an initial consultation becomes pre-qualified, not just as a generally interested person but as a potential client in specific and urgent need of a solution.
If you are converting less than 4 or 5 out of 10 qualified prospects that see you every month, then it’s time to start thinking like a Trusted Authority.
If you're an ambitious advisor, with a defiant streak (following the crowd isn't your thing), who is overly reliant on referrals, with limited time and resources, but willing to grow and challenge your own thinking -- and you'd be happy with 1 – 2 new high-net-worth clients per month...
Get Your Free Book & Free "Get New Clients" Sales & Lead Generation Consultation ASAP!
Order the new book “Trusted Authority” below and get a free “Get New Clients” sales & lead generation consultation (value $995.00).
In this ground-breaking new book, you’ll discover:
- How to create a flow of high-quality leads in the next 90-days by becoming the Trusted Authority in your market
- How to differentiate yourself from other advisors so that your ideal client says “He/she is the one for me…”
- How to re-position yourself to create inbound demand for your ideal clients only becoming a “category-of-one”
- How to create a “by-appointment-only” business so you stop lowering your authority by "chasing” leads
- How to onboard new clients in one single meeting or zoom conversation… yes this is possible!
Meet The Author
Ari Galper is the world’s number one authority on trust-based selling and is one the most sought-after sales conversion experts for Financial Advisors.
He is the creator of Unlock The Game®, a completely new revolutionary sales approach that overturns the notion of selling as we know it today.
Ari has been featured in CEO Magazine, SkyNews, Forbes, INC Magazine and Financial Advisor Magazine – and has been a featured speaker at the Financial Planning Association’s national conference.
His newest book, “Trusted Authority”, has become an instant best-seller among Financial Advisors worldwide.
With clients in over 35 countries, his global sales systems have become the most successful Trust-Based Selling systems of our time.
In a day and age where technology rules the selling world, for many growth-oriented advisors, deep trust has taken a “back seat” to the sales process.
Ari’s personal insights on how to build trust between buyers and sellers continue to break new ground in the financial services industry.
Ari has been on a mission for the last two decades to change the financial services world through trust.
Through his sold-out talks all over the world and his in-house trainings for high-producing advisors, Ari has become the global ambassador to businesses all over the world.
He regularly connects with global business icons and leaders of industries seeking his counsel on how to infuse trust in their organisations and across their teams.
Ari is a true “disruptor” in the financial services industry. He has been endorsed by legendary sales mentors like Brian Tracy who said: “Ari Galper’s trust-based selling approach is the greatest sales breakthrough in the last 20 years”.
Ari’s sales growth consulting firm has a growing waiting list of financial advisors wanting access to his unique Trusted Authority lead generation models and sales conversion strategy advice.
Ari is also the author of “Lessons From Toby”, a special book about his son Toby who has Down’s Syndrome, who has made a major impact on Ari’s approach to teaching authenticity and trust in his Trust-Based Selling approach.