As a financial advisor, lead generation and marketing are likely at the forefront of your concerns. But have you considered whether your marketing strategy is yielding the best results? In this video, Brandon Stukey, founder of Next Level Advisors, discusses the problem of what he calls high commitment marketing and its impact on lead generation.
High commitment marketing refers to offers that require a significant investment of time or effort on the part of the prospect. For example, asking a cold audience to attend an in-person seminar is a high commitment offer that may deter potential clients. While high commitment offers can be effective in generating business in the short-term, they often result in a lower volume of leads at a higher cost per lead.
Stukey suggests that advisors should consider leading with lower commitment offers such as webinars, white papers, or books in exchange for contact information and permission to follow up. These types of offers can yield a much higher volume of leads at a lower cost per lead, making them a valuable addition to any marketing strategy.
However, it’s important to note that both high and low commitment offers have their place in a marketing strategy. High commitment offers may attract clients who are already close to making a buying decision, while lower commitment offers can help build a list of warm prospects to nurture over time.
Ultimately, the key to a successful marketing strategy is to diversify your offers and build a list of warm prospects. By layering in lower commitment offers, you can attract a larger pool of potential clients who may not be ready to buy today but will be in the future. This can help you scale your business and achieve long-term growth.
In conclusion, financial advisors should carefully consider their marketing strategy and ensure they are not relying too heavily on high commitment offers. By diversifying their offers and focusing on both short-term and long-term revenue strategies, advisors can attract a wider range of clients and achieve sustainable growth.