How to master digital prospecting in wealth management
Digital prospecting poses new challenges for wealth management advisors. How do you effectively reach qualified prospects online? With the rise of digital prospecting tools, customer expectations are changing. They want to be able to interact easily online with their advisor before making an appointment.
A recent study shows that :
78 % des prospects consultent les informations en ligne du CGP avant de le contacter.
64% of prospects say that an active LinkedIn profile is the most important criterion.
52% of advisors with an optimized profile get twice as many qualified leads.
Faced with the new challenges of online prospecting, wealth managers need to adopt effective strategies. In this article, we'll explore digital prospecting strategies for wealth managers, essential for reaching qualified prospects online.
Table of contents
Digital prospecting: explanations
Digital prospecting refers to all the techniques used to identify, attract and convert prospects via online channels. It encompasses various activities such as :
Le référencement naturel (SEO) pour positionner un site Internet dans les moteurs de recherche. Plus le site est bien référencé, plus il va apparaitre en haut de la page des résultats et plus il sera visible aux utilisateurs. On sait que 80 % des clics se font sur les 3 premiers résultats organiques.
Les campagnes de liens sponsorisés (SEA) pour une acquisition rapide et ciblée. Les campagnes Google Ads sont conçues pour capter efficacement votre audience idéale, en combinant puissance et personnalisation.
Social networks to assert your expertise and develop your network. It's a channel that's often little used, but offers an interesting ROI over time.
E-mailing campaigns to retain your existing customers, stay "top of mind" and be a force to be reckoned with at the right moment.
Lead generation via forms or promotional offers to create sales tunnels by capturing your target's attention and encouraging them to identify themselves and thus express their intention.
Unlike traditional prospecting methods (telephone, postal mailing, etc.) and even the purchase of leads, digital prospecting enables you to reach a much wider audience for a smaller budget. It also offers better traceability of actions and finer targeting of prospects.
Understanding customer acquisition in digital marketing
The customer journey
On average, a customer needs to see a piece of content 7 times before taking action.
Customer acquisition refers to the entire process of transforming a prospect into a paying customer. In digital marketing, this process generally follows the following stages:
Attract: attract visitors to your site via editorial content, advertising campaigns, etc.
Convert: transform these visitors into leads via forms, promotional offers, etc.
Close: convert these prospects into paying customers thanks to our sales teams.
One of the key indicators for measuring the effectiveness of this process is the customer acquisition cost (CAC). This is the total cost of the marketing and sales efforts required to acquire a new customer. The lower this cost, the more profitable customer acquisition is for the company.
Effective strategies to reduce customer acquisition costs
To reduce the cost of customer acquisition, it's crucial to optimize the conversion tunnel using digital prospecting strategies specifically designed for wealth managers. Here are a few strategies that can help you optimize your ROI:
Optimize the conversion tunnel: simplify the user journey on your site to maximize conversions.
Personalization: propose content and offers adapted to each prospect's profile.
Automation: set up automated marketing workflows to accelerate lead qualification and conversion.
Loyalty: retain your existing customers, because it costs less to sell to an existing customer than to a new prospect.
Data analysis: constantly monitor your key performance indicators to identify levers for improvement.
The role of the Lead Magnet in customer acquisition
A lead magnet is an incentive offered to a prospect in exchange for contact details. There are many different types of lead magnet: white paper, checklist, how-to guide, free template, free trial, webinar, etc. The lead magnet can be a separate page on the site, called a landing page, which is not included in the site's tree structure. The sole purpose of a landing page and a lead magnet is to incite action.
The Lead Magnet plays a crucial role in customer acquisition, enabling :
Collect qualified data to feed your marketing and sales operations.
Demonstrate your expertise and credibility to your prospects.
Initiate a relationship of trust with the prospect by providing value.
Obtain information on your prospects to better meet their expectations later on.
Properly designed and promoted, a lead magnet generates highly qualified sales and marketing leads at marginal cost. It's a powerful lever for reducing customer acquisition costs. For a wealth management firm, the effectiveness of a sales tunnel will depend on the precision of the targeting and the promotional budget.
L’une des erreurs les plus courantes quand un CGP veut communiquer sur Internet, c’est de vouloir parler à tout le monde. C’est une erreur, car même si tout le monde peut bénéficier d’un conseil patrimonial, il est important de segmenter les raisons pour lesquelles ce conseil est important. Une famille de deux cadres supérieurs avec des enfants en bas âge n’aura pas les mêmes préoccupations qu’un médecin libéral et célibataire. Le message marketing et la valeur ajoutée du Lead Magnet devront être personnalisés à cet effet. Ce travail de fond sur les différentes cibles et leurs besoins est un travail que nos équipes façonnent régulièrement pour affiner le ciblage de nos campagnes publicitaires et de nos efforts en copywriting pour nos clients.
How do you calculate cost per lead in digital marketing?
Source: FirstPages.com
Cost per lead (CPL) is a key indicator in digital marketing.
It is calculated using the following formula :
Total campaign cost / number of leads generated
For example, if your campaign cost €5,000 and generated 1,000 leads, then :
CPL: total campaign cost / number of leads = €5,000 / 1,000 = €5
The lower your CPL, the more profitable your lead acquisition. That's why it's essential to measure it for each campaign, in order to arbitrate your marketing investments and optimize your actions.
It's important to carefully monitor and measure each customer acquisition channel (paid and organic), limiting investment to those that produce your "best" customers. A good customer will be one with a high lifetime value, a predisposition to activate word-of-mouth and the highest degree of satisfaction in relation to its acquisition cost.
Analysis of cost per thousand and its impact on customer acquisition
Cost per thousand (CPM) is an advertising metric that measures the cost of displaying your ad 1,000 times to Internet users. For example, a CPM of €30 for a Facebook Ads campaign means that it will cost you €30 each time your ad is displayed 1000 times on Facebook. The CPM has a direct impact on the cost of customer acquisition:
The higher the CPM, the higher the cost of generating conversions.
A low CPM lowers the cost per lead and the cost per acquisition.
It's therefore essential to work on targeting, marketing message and ad visuals to minimize CPM and generate conversions at the best cost. Our approach automatically involves a "test and scale" phase to find the combination that works best.
Techniques for optimizing your digital marketing budget
With resources often limited, it's important to define well-thought-out, targeted strategies aimed at maximizing marketing ROI. Whether through analysis of past performance, audience segmentation, or automation tools, the aim is to concentrate efforts where they count most. By continually testing, measuring and adjusting their campaigns, campaign managers reduce unnecessary costs and boost the effectiveness of their marketing campaigns. Here are a few techniques for optimizing your digital marketing budget:
Data analysis: identify the most effective levers in your past campaigns.
Define clear objectives: set precise KPIs to better allocate your budget.
Multiple testing: test different creative, targeting and messaging to identify the best performers.
Automation: set up rules to automate budget arbitration between your campaigns.
A specialized digital prospecting agency
Customer prospecting is becoming increasingly digitalized. There's a growing awareness among heritage professionals that an online presence can bring a steady, predictable flow of customers, and at a lower cost than traditional media. The power of digital marketing is well established, and there are many tactics for generating leads and customers online. To achieve this, there are a few best practices to follow:
Continuously optimize your conversion tunnel.
Focus on lead magnets and editorial content that answers your target's questions.
Analyze data to optimize and facilitate decision-making.
Quickly test and iterate your campaigns to find the right combination.
By adopting digital prospecting strategies tailored to wealth managers, firms can significantly improve their online customer acquisition. A digital prospecting agency with industry-specific expertise will help you maximize the performance of your marketing initiatives. At Rise Digital, we offer tailor-made, multi-channel support specific to the financial sector. Contact us today for a discovery call and boost your online presence with success.
