The Wealth Advisor Sales Tunnel
"I have a website, but it's not making me any money". Are you a Wealth Advisor with a website that isn't generating any leads for you? You're not alone. An American study shows that 70% of Wealth Advisors only bring in 0 to 1 leads via their website.
I've helped brands (real estate, yachts, family office) use digital to sell to "UHNW" and "HNW" audiences, and surprising as it may seem, digital marketing works.
The secret?
Setting up sales tunnels.
How?
You just need to know the steps.
I'm going to share with you the keys to attracting your first customers with a sales tunnel.
The customer journey for a financial product
The customer journey corresponds to the steps a person will take in order to purchase your service or product. Before the Internet, the customer journey was simple: you had a problem, you pulled out the phone book and called a service provider. Today, the phone book has disappeared and been replaced by the Internet. The online customer journey is longer and more complex. On average, a customer must be solicited at least 7 times before finalizing a purchase. The decision-making process therefore takes longer.
The first stage of the customer journey is the awareness stage. This is when a prospect becomes aware of your existence.
After this initial period comes the interest stage. Here, the person develops an interest in your services or offers. It's also at this stage that they may realize they have a problem (such as the need for a more diversified portfolio or higher returns).
Then comes the decision stage. Prospects know you, they have a problem to solve, and they're interested in your solutions. During this stage, they usually carry out active research, possibly comparing solutions and looking for more detailed information on your offers.
Finally comes the action stage. Here, the prospect takes action and makes the purchase. In the case of a wealth management advisor, they may hire you to advise them, or validate a financial product you recommend.
How can a Wealth Advisor Advisor position itself in a customer journey to capture leads via its website?
The Wealth Advisor sales tunnel
The mistake 99% of Wealth Advisors make when starting up their business is to think that a simple website is enough to attract customers online. This belief is an illusion, because a website alone cannot generate leads. Your website is an essential asset for presenting your offer, your identity, your values, your references, as well as your history and track record. It contributes to the development of your online presence and your "digital image", but it can't work in isolation - it's part of your sales tunnel.
So to attract customers, you need to be present at every stage of the customer journey.
What is an Internet sales tunnel?
Sometimes the term "sales funnel" is used. This is everything a web surfer does during their online journey, from searching for a product or service to making a purchase. Digital marketing frequently uses this term to describe the entire process of converting a prospect into a customer.
The functionalities of a sales tunnel remain the same, whatever your activity. The sales tunnel takes the form of a funnel, creaming up the number of users at each stage. The further you go, the fewer the users, but the more qualified they are.
The Sales Tunnel
Your website plays a crucial role in the sales tunnel, which comprises four essential stages:
Getting known
Getting loved
Transform
Build loyalty
The sales tunnel has four distinct stages:
Attracting attention
The first step is to make yourself known and attract visitors through content. You need to ensure that visitors get to know you, whether on your site, on social networks or through search engineSEO(SEO).
Convert visitors into leads
The second stage takes place on your site. The aim is to turn an unknown user into a known visitor by capturing their email address (for example). This person has discovered your site, whose content meets their expectations. They fill in a form or download an ebook, showing potential interest in your services.
Turning prospects into customers
Once this action has been completed, the user becomes a qualified lead. For a Wealth Advisor Advisor, a conversion metric would be an appointment for a discovery call, for example.
Building customer loyalty
The final stage is customer loyalty. For a Wealth Advisor, this means maintaining the link, proposing new services or new products. Loyalty building is done by telephone, but it's a task that can be automated to a certain extent.
You're a Wealth Advisor offering wealth management services. It's essential that you adapt your sales tunnel to your customers' needs. The aim of the sales tunnel is to serve and target a prospect at each stage of his or her customer journey, by offering the right content for his or her research phase.
The aim of the sales tunnel is to present the right information at the right time.
For example, when a prospect is in the interest stage, a site needs to be able to provide information or resources that will help them make a decision. The type of content can take many forms: blog posts, eBooks or a free webinar. By providing relevant information that answers their questions, you position yourself as an authority on wealth management. By the time this prospect reaches the decision stage, he'll already have developed a certain level of trust in you. And trust in the Wealth Advisor profession is the lifeblood of the business. During the decision stage, the prospect will want to compare. The aim here is to provide as much detail as possible about your services, the way you work, your qualifications, or even the tools you use. The aim is to help them differentiate you from your competitors.
A wealth management advisor's sales tunnel is the path followed by a potential client from initial contact to signing a contract. On average, on the Internet, a person needs to see a piece of information 7 times before taking action. The aim of the sales tunnel is to bring a visitor who doesn't know you to a stage where he or she trusts you and wants your services because you've demonstrated your expertise and credibility. Throughout the sales tunnel, the Wealth Advisor must continue to share, exchange, provide free information and answer potential questions in order to guide the user towards the final decision.
If you'd like to automate your marketing and prospecting by setting up a sales tunnel, contact us for a free consultation or download our free guide the Wealth Advisor Digital.
