You are running out of time and want a solid remedy to successfully tackle the situation!
The question is, what can you do?
Out of so many resources, lead magnets appear to be matchless, and they directly convert your efforts to attract high-ticket clients to refuel your sales pipelines and boost your conversions. Through this guide, we aim to educate you about the beneficial value a lead magnet provides, as well as the types and proven ways to utilize lead magnets to generate leads.
To start with first…
What is a Lead Magnet?
Lead magnets are also referred to as gated resources, and prospects must provide details such as their name, company email address, phone number, and so on. However, 64% of B2B marketers rely on gated content to capture the contact details of prospects and customers. These accumulated contact details are utilized to nurture potential prospects and have them transition into the sales cycle, ultimately converting them into your clients.
Why Are Lead Magnets So Valuable for Financial Advisors?
Lead magnets are crucial for financial advisors as they enable them to gain the trust of the prospect with a valuable resource and capture their contact details. Not all the lead magnets would entice your prospects; only a handful of selected lead magnets have the potential to make your prospects believe they’ve hit the jackpot!
Have a glance at some of the preferred lead magnets from the financial industry, which includes:
So what makes these lead magnets so unique? Some of the common traits often witnessed in top-performing financial advisors lead magnets are:
- Targeted and relevant
- Value-oriented
- Informatory & professional
- Faster access to usability
- Compelling CTA
- Compelling CTA
- Thank you page
Benefits of Lead Magnets for Financial Advisors
Here are the major reasons why financial advisors use lead magnets:
- Lead magnets are prominent resources for acquiring the trust of the targeted prospects. By sharing valuable resources, financial advisors can mold the beliefs of their audience when considering their financial advisory services.
- Undoubtedly, with effective lead magnets, financial advisors can open the lead generation portal to gather several contact details of interested prospects who are looking for similar services to what you offer.
Financial Advisors to Learn More About Effective Lead Generation Techniques
- Personalized niche-driven lead magnets can support advisors from finance sectors in running targeted outreach to attract potential profiles from different demographics and industries.
- With reliable lead magnets, you can regularly deliver valuable resources and updates to nurture your business relationships. Eventually, this would strengthen your brand image in their minds and transition the prospects faster into becoming your clients.
- Lead magnets help financial advisors filter out their target audience by qualifying the leads to focus their attention on the potential buyers.
How to Create an Excellent Financial Advisor Lead Magnet?
A performance-oriented lead magnet is not that challenging to develop as long as it remains relevant and valuable to your prospects. So what’s the right process? We will get into the details by discussing some of the parameters that should be considered for developing a remarkable lead magnet:
Step 1 – Define Your Target Audience
Before you kick-start the process of developing lead magnets, financial advisors must introspect and narrow down their target audience. Once you are aware of who to attract, you can seamlessly develop lead magnets based on their interest.
Some of the following questions, which can help you are:
- Who is your target audience? Young professionals, semi-experienced professionals looking to learn about investments?
- Are they working professionals aiming to seek early retirement plans?
- Or are they business owners aiming to invest for dividend income or something similar?
Every prospect’s needs will vary, so your lead magnet should be adaptive to deliver on their needs and make them take action to move further into the sales cycle for lead conversion.
Step 2 – Hand-Pick the Suitable Type of Lead Magnets
Lead magnets can be delivered in different varieties based on your audience preferences, some of which include:
- E-books
- white papers
- infographics
- financial calculators
- Long & short format videos and more.
Choosing the right form of lead magnet based on your audience preference can significantly make a difference. A study conducted by GetResponse highlights the type of lead magnets that have a high conversion rate, surprisingly, video and written lead magnets emerged as major findings. Some of the other are:
Still wondering what to do further?
You can try providing more eBooks along with the short video content, or based on the response of your audience, try mixing around some financial checklists and professional consultations lead magnets. Financial advisors must also select a format carefully based on their abilities to develop and deliver value to their targeted audience.
Step 3 – Always Choose the Trending and High-Value Topics
The performance of your lead magnets can drop dramatically if the topics are not engaging or relevant. To attract the attention of your prospects and change their contact information, financial advisors must include compelling topics such as unique insight, practical advice, and other solutions that your audience encounters.
Some of the eye-catching topics are:
- Track your expenses like a pro: budget template
- Tax filing guide for self-employed professionals
- Calculate your mortgage affordability: step-by-step guide & free tools
- The best stock-picking strategies for intermediary professions.
- Top investment returns calculators you must check!
Based on the demands of your targeted audience, follow up on their industry preference and topics that captivate their interest. This helps you ease the stress and deliver sharply on the needs of your prospects with personalized and targeted resources through your lead magnets.
Step 4 – Always Have a Professional Design
Regardless of how valuable your developed content is, if the presentation of the lead magnets is clumsy, the result would be devastating.
Financial advisors must pay attention while designing the lead magnets, which hold the potential to make or break their reputation as expert advisors in the industry. A well-put-together lead magnet with professional design leaves positive remarks on your targeted audience.
Try incorporating external support from graphic designing professionals to have consistent templates, color schemes, and easy-to-read layouts across your lead materials. This can speak volumes about your industry expertise and professionalism. Great design patterns in your lead magnet would appear time-worthy and also lead to more downloads and enhancement of the lead flows coming into your financial advisory organization.
Step 5 – Utilize Different Channels for Promoting Your Lead Magnets
Once your lead magnet is developed, you can proceed to curate your marketing strategies and channels for promoting your lead magnets.
You can utilize channels such as:
- SEO optimized websites
- Email marketing
- Paid campaigns
- Networking events
- Promotional content marketing
- Social media channels
- Automated & live webinars and so on.
Financial advisors must ensure to add lead capturing forms, which the prospects would fill in to access your gated content for the exchange of their contact details. 84% of the marketers use form submission to convert leads. You can smartly track the incoming lead flow through lead-capturing tools such as Leadfeeder, HubSpot, Zoho CRM, Keap, Sumo, and more.
After capturing the lead details, financial advisors can set up automated lead nurturing tools as nurtured leads make 47% larger purchases than non-nurtured leads.
Use automated email marketing and other paid ads campaigns to develop a long-term relationship with their target audience and guide them through the sales funnel for conversions.
Step 6 – Implement A/B Testing
A/B testing is a proven tactic that can fix the performance and effectiveness of your lead magnets. This allows you to optimize your resources, including content, design, interface, CTAs, headlines and more. It enables the financial advisors to garner an optimum conversion rate by testing out different variations in their marketing resources.
- A/B testing lead magnets would help your business in
- Learning the pain points of your target audience
- Better comparison of performance
- Improved risk management
- Streamlined user experience and engagement, and more
How to Create an Excellent Financial Advisor Lead Magnet?
A performance-oriented lead magnet is not that challenging to develop as long as it remains relevant and valuable to your prospects. So what’s the right process? We will get into the details by discussing some of the parameters that should be considered for developing a remarkable lead magnet:
Step 1 – Define Your Target Audience
Before you kick-start the process of developing lead magnets, financial advisors must introspect and narrow down their target audience. Once you are aware of who to attract, you can seamlessly develop lead magnets based on their interest.
Some of the following questions, which can help you are:
- Who is your target audience? Young professionals, semi-experienced professionals looking to learn about investments?
- Are they working professionals aiming to seek early retirement plans?
- Or are they business owners aiming to invest for dividend income or something similar?
Every prospect’s needs will vary, so your lead magnet should be adaptive to deliver on their needs and make them take action to move further into the sales cycle for lead conversion.
Step 2 – Hand-Pick the Suitable Type of Lead Magnets
Lead magnets can be delivered in different varieties based on your audience preferences, some of which include:
- E-books
- white papers
- infographics
- financial calculators
- Long & short format videos and more.
Choosing the right form of lead magnet based on your audience preference can significantly make a difference. A study conducted by GetResponse highlights the type of lead magnets that have a high conversion rate, surprisingly, video and written lead magnets emerged as major findings. Some of the other are:
Still wondering what to do further?
You can try providing more eBooks along with the short video content, or based on the response of your audience, try mixing around some financial checklists and professional consultations lead magnets. Financial advisors must also select a format carefully based on their abilities to develop and deliver value to their targeted audience.
Step 3 – Always Choose the Trending and High-Value Topics
The performance of your lead magnets can drop dramatically if the topics are not engaging or relevant. To attract the attention of your prospects and change their contact information, financial advisors must include compelling topics such as unique insight, practical advice, and other solutions that your audience encounters.
Some of the eye-catching topics are:
- Track your expenses like a pro: budget template
- Tax filing guide for self-employed professionals
- Calculate your mortgage affordability: step-by-step guide & free tools
- The best stock-picking strategies for intermediary professions.
- Top investment returns calculators you must check!
Based on the demands of your targeted audience, follow up on their industry preference and topics that captivate their interest. This helps you ease the stress and deliver sharply on the needs of your prospects with personalized and targeted resources through your lead magnets.
Step 4 – Always Have a Professional Design
Regardless of how valuable your developed content is, if the presentation of the lead magnets is clumsy, the result would be devastating.
Financial advisors must pay attention while designing the lead magnets, which hold the potential to make or break their reputation as expert advisors in the industry. A well-put-together lead magnet with professional design leaves positive remarks on your targeted audience.
Try incorporating external support from graphic designing professionals to have consistent templates, color schemes, and easy-to-read layouts across your lead materials. This can speak volumes about your industry expertise and professionalism. Great design patterns in your lead magnet would appear time-worthy and also lead to more downloads and enhancement of the lead flows coming into your financial advisory organization.
Step 5 – Utilize Different Channels for Promoting Your Lead Magnets
Once your lead magnet is developed, you can proceed to curate your marketing strategies and channels for promoting your lead magnets.
You can utilize channels such as:
- SEO optimized websites
- Email marketing
- Paid campaigns
- Networking events
- Promotional content marketing
- Social media channels
- Automated & live webinars and so on.
Financial advisors must ensure to add lead capturing forms, which the prospects would fill in to access your gated content for the exchange of their contact details. 84% of the marketers use form submission to convert leads. You can smartly track the incoming lead flow through lead-capturing tools such as Leadfeeder, HubSpot, Zoho CRM, Keap, Sumo, and more.
After capturing the lead details, financial advisors can set up automated lead nurturing tools as nurtured leads make 47% larger purchases than non-nurtured leads.
Use automated email marketing and other paid ads campaigns to develop a long-term relationship with their target audience and guide them through the sales funnel for conversions.
Step 6 – Implement A/B Testing
A/B testing is a proven tactic that can fix the performance and effectiveness of your lead magnets. This allows you to optimize your resources, including content, design, interface, CTAs, headlines and more. It enables the financial advisors to garner an optimum conversion rate by testing out different variations in their marketing resources.
- A/B testing lead magnets would help your business in
- Learning the pain points of your target audience
- Better comparison of performance
- Improved risk management
- Streamlined user experience and engagement, and more
Optimize the Performance of Your Lead Magnets for Maximum Conversions
You’ve developed your lead magnets; everything has been put in place. Unfortunately, the conversions are low despite doing everything! Making the prospects sign up for your lead magnets is an effortless task if you appear credible to your audience.
Here are some of the practical ways to boost your conversion as a financial advisors:
1. Filter Your Audience and Clarify Your Intentions
Financial advisors must absolutely be clear on who they aim to target by segmenting their audience based on their requirements and demands. With a targeted approach, research on finding the top challenges of your ideal prospects, and strategize the resources that stir their interest to become your leads.
Ideally, your prospects will be attracted to your financial advisory business based on the clarity about:
Who are you?
What do you do?
Who are your target audience?
How will you benefit them?
Your marketing strategies should firmly revolve around these aspects that can help them make a firm decision and proceed with your services over the rest by signing up as leads.
2. Develop Personalized Content for Engagement
Your target audience regularly comes across similar advisory businesses, and without personalized content, standing out from your competition would be challenging.
- Based on the research and your industry expertise, generate marketing resources that resonate with your target audience.
- If your audience prefers to learn about financial emergency funds, curate lead magnets that align with their preference through ebooks, checklists, and so on.
- Ensure that straightforward titles specify the target audience and highlight the benefits. This would foster engagement and create a positive brand persona in the minds of your audience.
3. Opt For Multi-channel Marketing Strategies
Promote your personalized lead magnets using multi-channel platforms for better reach and connectivity with your target audience.
Some of the effective ways to use multi-channel marketing campaigns are:
1. Search engine optimization (SEO)
SEO strategies can rank your websites and landing pages higher in the SERP results, leading to higher organic traffic and visibility. Use search intent keywords in blogs, white papers, and e-books related to your lead magnet topics to drive traffic and boost your brand credibility.
2. LinkedIn
LinkedIn can help you spread your brand reach by promoting your lead magnets. With targeted LinkedIn marketing strategy, financial advisors can reach out to their audience across different demographics and industries. 89% of B2B marketers capitalize on LinkedIn to generate leads, and 62% of them confirmed its effectiveness. Include the links of lead magnets in your social profiles, have an attractive cover, and place a CTA for nudging the prospects to fill out forms.
Not Sure How to Get Started With Linkedin Marketing for Your Business?
3. Email Marketing
Email Marketing is a great channel that supports advisory firms in building relationships. Business usually develops their in-house email list that provides, which may or may not reach their targeted audience. Procuring a reliable email marketing service from a verified solution provider can boost your marketing outcome extensively.
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Once the prospects confirm their interest in proceeding further, financial advisors can begin to nurture their leads. Nurtured leads make 47% larger purchases than non-nurtured leads. So, use the sequence of follow-up emails to raise awareness before making their decision to acquire your services.
- Send the first email instantly after signing up for the lead magnet.
- The second email can be forwarded within 2-4 days intervals with additional info related to the lead magnet.
- The third email can be discharged within a week’s interval with solid case studies or e-books for further elaboration on the topic
- Ideally, the fourth to sixth emails are considered progressive persuasion, which can be forwarded within another week’s interval (2 weeks). This would hint the prospects to implement the details from the lead magnet with a CTA flashing your service details.
4. Paid Ads
Paid campaigns can empower your business to target specific profiles of decision-makers and leaders with tailored resources for maximum visibility.
- Indicate your solid value proposition as to what the audience would reap after filling out the opt-in forms.
- Have professional ad copies and covers that entice the attention of prospects, making them click to learn more.
- Use action verbs, value-oriented numbers in headlines, and sophisticated design patterns to guide the prospects to the landing pages.
Consider running paid ads on diverse channels, such as:
- Social media ads – LinkedIn, Facebook, X for covering targeted demographics.
- Google ads target keywords to capture users who are looking for details similar to your lead magnet title.
- You can also promote your services on content marketing platforms and communities such as Medium, Quora, Reddit, and more.
5. Networking events
Networking events allow businesses to directly engage the interested prospects from their target audience. This entitles them to expand their network circle and brand reach.
- Include CTA on your business cards and event signage to promote your lead magnets through QR codes.
- Hand out flyers with a brief description of your services, and also about the lead magnets through your website URLs.
- Utilize the relevant social media channels for encouraging your business events and relevant marketing resources that contain your targeted leads magnets.
- To create the anticipation, include event-only access for the attendees from the target audience that visit and connect with you during the event venue.
4. Tools for Designing Your Financial Advisor Lead Magnets
Financial advisors can utilize some of the integrated tools, such as:
Design and customization
Adobe Spark, Adobe Photoshop, and Visme are some of the resources you can use to design lead magnet interfaces.
Lead capturing
Software such as HubSpot, Zapier, Google Forms, and Beacon enables you to create your opt-in forms and capture the prospects’ contact details.
CRM tools
Some of the top tools for customer relationship management (CRM) are MailChimp, Salesforce, ActiveCampaign, Zoho CRM, and more. The software can track the flow of lead generation and lead scoring and empowers financial advisory businesses to nurture leads for deeper sales conversion.
5. Measure the Performance of Your Lead Magnets
There are severe growth performance indicators that can highlight how impactful your lead magnets have been in lead generation.
Some of the key metrics you should monitor are:
- Landing page conversion rate highlights the total percentage of visitors that have offered their contact details by filling out the opt-in forms on the landing page.
- Download / opt-in rate is the metrics that highlight the total download performed by the prospects after interaction with your marketing resources.
- Click-through rate (CTR) highlights the total percentage of prospects that click on the link to access the lead magnets.
- Customer acquisition cost (CAC) – reflects the costs shelled out behind acquiring new customers through the lead magnets.
- Customer lifetime value (CLTV) magnifies the average of the total revenue generated from customers acquired through lead magnets for an overall business estimation.
- Lead Quality is the metric that focuses on highlighting how relevant and qualified the accumulated leads are based on the demographics and from their elicited behavior.
- Engagement Metrics covers aspects such as CTR rates and open rates of emails that were sent after the lead capture. It also highlights factors such as the total consumption of the lead magnets content by the customers.
Case Study
One of their prominent Portland-based client of Digital Success was encountering challenges with stagnant lead generation flow that had dropped their growth performance. Digital Success strategized on several lead generation strategies and finalized to include a marketing automation platform with their business. This boosted their social media profiles to get new lead opportunities and boost the business performance overall.
Marketing automation through LinkedIn streamlined the sales. Lead tracking and nurturing guide the organization in generating higher revenue. Followed by live chat, it engaged the visitors to pull in more leads. Overall, Digital Success was able to boost the total web traffic with +57% and +530% growth in their total social following post 6 months, and 78% of qualified sales lead generation.
Wrapping Up
Lead magnets are the real game changer for financial advisors for growing their sales and client base. These lead magnets help you display your expertise for targeting the specific segment of prospects from the targeted demographics.
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Through this blog, we aim to touch on the vital aspects of lead magnet formation. It includes some best practice tips that can help you multiply your brand reach by promoting your services to the targeted audience, which would likely acquire your services. The end–to–up process of obtaining leads to nurturing and then guiding them to transition as the client is a meticulous job. This can be tackled through a persistent approach and regular modification into your lead magnets.
