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Why Changing Financial Leads Frequently Is costly

If you’re a solo Financial advisor, inbound leads are your bread and butter.

So you should also know your processes in & out.

This means knowing what is working and what is not working.

Investing in Financial leads is not just about marketing dollars.

Every part in your sales cycle must have a clearly defined role & purpose.

Follow up & follow through are huge.

This is why constantly changing financial leads frequently can be costly (in more ways than one).

I. Respect the Process

When purchasing financial leads and converting them into clients, you need to be able to measure many parts in your process.

      • Are your leads responsive?
      • When you speak with them, are they qualified?
      • How many touch-points does it take to reach them?
      • Do you enjoy working the way the lead or prospect needs?

    In other words, make sure you have specific criteria you use to gauge & measure success.

    When you are changing financial leads frequently (or buy & stop often); you’re not being fair to yourself, the lead, or the marketing.

    Processes allow you to measure efficacy.

    But processes are only helpful when you respect & execute them.

    II. Repeatable Processes Need Time

    At Evolvd, we don’t take on any client that bounces around from lead to lead, or marketing to marketing (or worse can’t follow through with anything).


    Because we are most successful and so is our financial advisor, with repeatable & sustainable processes.

    These processes are determined and defined with time & experience.

    You don’t have to keep doing the same thing over & over (unless it’s working 😉).
    But you should collect enough data to determine the difference.

    The only way to do this, is to actually do the work.

    Executing your process consistently help you identify strengths & weaknesses. Which then allow you to scale accordingly.

    Therefore, take the time to define your process.

    III. Documenting Data Matters

    Changing from one financial lead type (Annuity to Federal Employee) too quickly or bouncing from different FMOs & marketers, does not allow you an opportunity to collect enough data.

    We’ve seen advisors rapidly increase the volume of a financial lead because they’ve heard great things about the lead.

    However, they don’t have firsthand experience with either lead source or lead type.

    So they:

    Burn & churn.
    Overload their systems.
    Are dissatisfied & abandon ship.

    While we don’t advise to keep doing something not working – make sure you know what IS working.

    How you do this is by making sure you have data, a good sample size of leads & enough time of proper follow through.

    Otherwise, you are costing yourself a lot of money and unnecessary frustration or fault.

    Changing financial leads too frequently will be costly!

    Need help following up on financial leads?

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