Overlooking Optimization

As a financial advisor, it can be difficult to take a step back from the daily operations of your practice and focus on optimization. But, overlooking optimization can have a significant impact on the performance of your business. In this conversation, Brandon Starkey highlights the importance of optimization and offers some suggestions for how to get started.

Optimization applies to all areas of your business, from lead generation to client service and retention. Much like tuning a car, optimization is about fine-tuning every component to ensure maximum performance. By doing so, you can increase your profit margins, improve your closing ratios, and generate more referrals.

There are six high-level categories that you can focus on when optimizing your business: traffic and advertising, lead generation, appointment scheduling, upselling and cross-selling, client retention, and referrals. Within each category, there are specific metrics that you can track to gauge performance. For example, if you’re running Facebook ads, you need to know the cost per thousand impressions and how many people are clicking on the ad.

To get started with optimization, Brandon suggests picking one area of your business to focus on and using an optimization checklist to track your progress. For example, if you’re focusing on lead generation, you can optimize your landing page by tweaking the headline, color scheme, benefit bullets, and button text. By making small changes and tracking the results, you can see a significant improvement in your performance.

Overall, optimization is essential for financial advisors who want to grow their practice and achieve better results. By taking the time to track your progress and optimize every component of your business, you can improve your performance and generate more business.

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