With technological advancements emerging at such an astounding rate, most organizations have decided to conduct their operations digitally.
The pandemic further acted as a catalyst for this era of digital disruption as the businesses had to acclimate to extraordinary situations.
The financial services industry is no different, and the traditional techniques of landing clients have dwindled in recent years.
Today, direct marketing and cold-calling are just the things of the past. Cold calls are generally a hit-or-miss, and junk emails form the most significant chunk of direct marketing.
Nowadays, financial advisors often have to encounter a daunting challenge. And that is, finding clientele who are ready to trust you with their investment without the need to show them your track record of success.
If the traditional methods seem to grow irrelevant, this begs an important question. What are successful strategies to land clients for your business?
But before we delve into those techniques, know that hearing crickets during the initial startup days is not unusual. You may not have a continuous revenue stream and cash flow when you begin your business. But what you do have on your hands is ample time. Therefore, cash in on this time and get innovative with the following client acquisition strategies:
Avail online resources
The Australian financial services industry has continually been in a state of flux, specifically after the final Royal Commission report. As a result, the financial services sphere has been the most hard-hit. Today, all the more so, there’s a rising demand for affordable financial advisors.
Do you have your business located in the third-largest city of Australia, Brisbane? In that case, you might be in the throes of landing credible financial advisors due to the increasing attrition rate.
However, the good news is Finding a financial advisor in Brisbane is no more a challenge. Today, with the advent of technology, you can find financial advisors in your vicinity that suit your business needs and meet financial goals.
Moreover, if you wish to go a bit extra mile, get yourself listed in the online directories. However, be sure to mention all the correct details and countercheck your location.
Prepare an elevator pitch
Getting your first client is undeniably not an easy feat. You might have got some prospects calls, but none bites. It takes plenty of endeavors to land your first client and initiate the pipeline for potential clientele.
That said, do you have the art to deliver what distinguishes you from others engagingly and concisely?
An elevator pitch is an excellent, riveting idea to articulate your thoughts, refine your message, and attract potential clients. Not to mention how it prevents you from getting caught off guard.
Imagine you got the chance to ride the elevator with a potential client. And their very first question is why they should invest in your business. If you are an experienced conversationalist, you may begin the introduction ideally, let the natural flow steer the conversation in the right direction, and nail the pitch.
However, suppose you constantly stutter, ramble, present ideas haphazardly, and repeat the previous points. In that case, you are more likely to squander this golden opportunity. If you are someone who flounders, then don’t just wing it. Instead, ensure to prepare well in advance.
Cultivate social media presence
In today’s fast-evolving world, a digital footprint is of paramount importance. But, if you aren’t leveraging social media to your advantage, you might also become a part of the sea of sameness, where all other brands are drifting.
Some, if not many, people feel reluctant to utilize social media platforms, mostly in fear they may reveal confidential details. Yet, they fail to realize is that this is where they can find several potential clients. Initially, it may seem a daunting idea, especially if you aren’t that active on social media. However, it’s a vital source for unveiling promising opportunities to build client relationships.
Therefore, set up a FaceBook and Instagram account and share meaningful articles and market insights. And if you wish to branch out on multiple platforms, ensure to keep your message consistent. Moreover, being a 21st-century individual, you might already have a LinkedIn account. Use it to drive inbound clients and get referrals.
Become a part of the community
Clients are undeniably the lifeblood of the financial services industry. It’s next to impossible to conduct business without clients – what they need, where they are, and who they refer along the path are some of the critical considerations.
Without tenacious prospecting tactics and a go-getter approach, organizations might find it challenging to reach out to investment clientele on a grand scale. And this gives all good reasons for financial advisors to learn the art of acquiring new clients and engaging the existing ones.
Therefore, step up your game by getting involved in the community. It’s time you go out and get noticed. Unlike traditional methods, community involvement won’t require you to invest a great deal of money. Instead, all you need is to commit time. Join associations and organizations which match your passion. That way, you can interact with like-minded individuals, and who knows, you might end up acquiring an investment client for your business.
There isn’t any silver bullet that you can have up your sleeves. In simpler terms, no one strategy can breed a constant flow of clients for your business. Instead, leverage immeasurable opportunities that exist in this digital realm to your advantage.
Those who wish to get their first investment client, in most cases, tend to opt for the ones who they have grown to trust through genuine relationships. Therefore, build credibility and authority – both in-person and digitally to take your business to unparalleled heights.
However, remember, fine-tune your message and capitalize on tools to make a splash. Still, landing financial advisors can take a great deal of time. So, stay positive. And when you get your first client, ensure to treat them as the most treasured and valued asset. Frequent calls, emails, and messages are some simple yet commended gestures that can help you create your book of business in the years to come.