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Categories of customers and users arrayed on a colored wheel, representing lead generation tactics to grow your customer base

Ramp Up Your Client Base with 3 Simple Lead Generation Tactics

Develop a Better Lead Generation Strategy

Finding the right lead generation tactics is one of the leading challenges for businesses hoping to grow their customer base. A recent survey from Gartner found that 58% of the U.K.’s top 750 decision makers identified lead generation as a key obstacle to growth, and 40% believe their current marketing and lead generation strategy is outdated (i.e., using spreadsheets or making cold calls).

For financial advisory firms who want to reach out to potential clients online, the following strategy for generating new leads can form the basis of a forward-thinking marketing system.

Wait, What is a Lead Generation Strategy?

In marketing, lead generation is the process of making a list of potential, qualified buyers, also known as leads, who show interest in your product or service. Generating leads has an even greater purpose: it is the first step of the sales cycle to identify prospects who may be interested in your offer.

There are two main approaches to build your customer base:

  • Buy a list of leads.
  • Build a list of leads yourself.

The problem with buying leads is that it puts the organization at risk. Unsolicited emails may be flagged for spam or worse, blacklisted. Once a domain email is blocked from a server, it’s a major headache to unravel. Yes, it can still be removed from the blacklist, but you’ll most likely have to pick up a phone and speak to your email’s hosting company to do so. It can be a monumental waste of time, and even money.

A better lead generation strategy is to build it organically. The marketer’s job is to begin with the end goal in mind and design a system for that specific goal; building an audience or email list is the most common approach. Most successful digital marketers have used this lead generation strategy to build their own subscriber lists, then sell products or courses.

3 Lead Generation Tactics: Define, Build, Create

The process for lead generation for financial advisors should be formulaic, scalable and repeatable. In today’s environment, this means much of your strategy will be online.Below is a brief explanation of such an approach.

Step 1: Define the Ideal Client

The first and most essential step to the lead generation strategy is defining the ideal client, also called a customer avatar. Creating a firm’s customer avatar begins with defining your demographic. These are facts based on the following subsets, for example:

  • Age
  • Gender
  • Ethnicity
  • Marital status
  • Annual household income
  • Home value
  • Geographic location
  • Number of children
  • Occupation
  • Education level
  • Net worth

This information can usually be gleaned from a customer relationship management (CRM) system. Lifestyle factors such as hobbies, interests and personality types should also be used to build the avatar. When complete, a customer avatar is a lead generation tactic that will help you target the right type of clients.

Step 2: Build a Landing Page

Now that you have defined our ideal client, you’ll need to guide them to your offer using a single web page, known as a landing page. A landing page is also referred to as a lead capture page, since this page usually contains a form that needs to be filled out in exchange for the offer presented on the landing page. The offer might be, for example, a free report or guide. The goal for the landing page is to capture as much information about the visitor as possible—usually the first and last name and an email address—in the hopes of converting the visitor into an actual client in the future.

Landing page creation begins with deciding what action or behavior we want to happen. What is your end goal? What do you want your prospects to do? The answer varies: register for a webinar, sign up for your email newsletter, download a PDF, watch a video or schedule a demo.

Each landing page has a specific purpose. A squeeze page is a type of landing page designed to capture an opt-in email address from a potential subscriber. It is the most common type of landing page, since email is one of the most coveted pieces of lead data. Squeeze pages are successful when they “squeeze,” or get the website visitor to enter their email address into a form field and opt in to receive emails.

Now that the landing page and form is in place, you must offer something of value, known as a lead magnet.

Step 3: Create a Lead Magnet

A lead magnet is exactly how it sounds: something that attracts. Stated another way, a lead “magnet” is a lead generation tactic (some call it an ethical bribe) used by marketers designed to capture interest and eventually grow their customer base. Magnets may take many forms:

  • Guides
  • Reports
  • Cheat sheets
  • Handouts
  • Toolkits
  • Resource lists
  • Webinars
  • Videos
  • Assessments
  • Quizzes
  • Surveys
  • Free courses

To receive the magnet, a lead must fill out a form. This captures identifiable data. This information is then automatically fed into a CRM system (e.g., Redtail or Salesforce) or to an email service (e.g., Constant Contact or MailChimp). Think about the mindset of your consumer and why they should become a lead in the first place. Give them something of value in exchange for becoming a lead.

Examples of Lead Magnets for Financial Advisors

Usually, a magnet’s main purpose is to build an opt-in email subscriber list in hopes of nurturing the relationship over time so that it eventually converts to a sale. If a lead magnet is going to succeed, it must provide exceptional value and be relevant to your ideal client.

Most prospects are searching for information that will help them save time or money; make them more productive; or in the case of most financial advisors, help them make good financial, investment and life decisions. The key is to figure out what problems your prospect is trying to solve and create a lead magnet that addresses it.

Here are some examples of magnets to get your own ideas flowing:


Lead Magnet Description

Sample Topic

eBook An electronic version of a printed book, usually about 10,000 words Investing in Cryptocurrencies eBook
Case Study A several-page report about a person, group or situation Retired Corporate Executive Case Study
Cheat Sheet A concise set of notes used for quick reference, usually 1-2 pages Buy or Lease Your Next Car – A Cheat Sheet for Busy Commuters
Checklist A list of items required, usually 1 page Value Investor Checklist
Guide A several-page guidebook of directions, advice and information The Ultimate Guide to Tax-Efficient Investing for Medical Professionals
Template A standard document with a pre-developed page layout, usually 1-2 pages Budget Template Worksheet for Newly Married Couples
Tool A device that aids in accomplishing a task Extra Payment Mortgage Calculator for First-Time Housing Buyers
Whitepaper An authoritative several-page report giving information Annual Generational Wealth Management Report
Spreadsheet An electronic document where data is arranged in rows and columns Loan Amortization Table Spreadsheet
Webinar A live or recorded seminar conducted over the internet, usually 1 hour Social Security Benefits for Widows and Widowers

Lead Generation Strategy Could Be Your Ticket to More Clients

Almost any lead generation tactic you’ll use will involve a form of the above process to create brand awareness and growth via content marketing, blogs and social media. Financial advisors can take a page out of the digital marketer’s playbook and use this strategy to expand their client base. This assumes an email campaign system such as Constant Contact or MailChimp and compliance-approved materials are already in place.

Once a landing page and lead magnet are set up, your lead generation strategy can then do some of the heavy lifting to help grow your customer base.

[Editor’s Note: To learn more about this and related topics, you may want to attend the following webinars: SEO/Social Media & Other PR 101 and Which Marketing Channels Should You Use And Why? This is an updated version of an article originally published on November 8, 2017.]

©All Rights Reserved. May, 2020. DailyDAC™, LLC d/b/a/ Financial PoiseT™

About Tina Powell

Tina Powell is the CEO of C-Suite Social Media, a full-service digital marketing and social media marketing consultancy for leaders in financial services who want to stand out. With over 20 years of hands-on digital marketing campaign and strategy, Tina’s extensive experience has kept her on the leading edge of marketing and social media. Prior…

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