Financial Advisors are an amazingly difficult prospect to engage. They are incredibly busy and already have a wealth of resources already available to them – do they even need to engage with wholesalers? The best way to convert financial advisors to customers is to build your marketing automation program around them.
Lead generation starts with effective segmentation
Before focusing on key strategies, Sales and Marketing must have defined a set of engagement personas and customer segments. Marketing has had personas for a decade but only since the advent of marketing automation software have engagement personas become empowered and brought to life.
Defining financial advisor segments for lead generation
Creating clarity with Sales is a two step process:
- Lead scoring – a measure of how active a financial advisor on your digital properties
- Lead grading – a measure of how profitable the financial advisor is likely to be
It may take several iterations to get lead scoring and grading optimized, however, the process should be fruitful for Sales and Marketing. The process crystallizes Marketing and Sales perspectives around which advisors are most profitable and which digital behaviors are believed to be most relevant to a sale. Some marketing automation vendors have one score that represents profitability and interest. However, being able to separate advisor behaviors from profitability factors simplifies discussions by clarifying customer segments by profitability as seen in the above graphic. As an example, Pardot applies a numerical value for an advisor’s lead score and a letter grade (A-F) for an advisor’s expected profitability.