Make Your Lead Magnet Pull Like A Shop Vac
How To Super Charge Your Financial Advisor Website's Pull On Prospects
You can’t have a thriving practice without prospecting. Therefore, you need a growing database of prospects. To get that, you need financial advisor lead magnet.
Ideally, you want one that pulls like gravity. Does yours?
Chances are you’re either creating greater compulsion or stagnating. If the worm on your hook dries out, you won’t catch much fish. On the other hand, if you haven’t gotten a hook yet, you’d better (unless you like going hungry).
Fear not though, fortunate advisor: You’re about to learn how the pros farm magnet bait.
Fun With Magnets
Lead magnets are sometimes confused with sales funnels. They’re not the same. In other words, the sales funnel is the prospect’s journey from first loading your site—to entering their contact information into your base.
A lead magnet is your first step; the baited hook. In other words, it’s a page at your website that’s gated: In order to access something beyond it, visitors have to enter their email address (and sometimes, their phone number).
If you didn’t know before, you’ve probably guessed that the resource you’ve gated is your bait. This can be anything from a retirement calculator to a media file. Prospects receive it in exchange for agreeing to “Sign up for my newsletter.”
Your bait must be as fresh as it is compelling. Otherwise, you’re wasting money on a website host. Similarly, a sleek, interactive site by itself isn’t enough.
Build A Better Financial Advisor Lead Magnet
Granted, as an advisor, you want to look professional. Nevertheless, if your financial advisor lead magnet has a weak pull, put away the fishing pole. You might as well take a nap.
The definition of a great lead magnet can vary, depending upon who you talk to. However, it consistently boils down to mean “one that keeps pulling in prospects.” You might want to add “One that doesn’t get stale quickly,” too.
Good candidates do have a few commonalities. Call them earmarks or gimmicks. Certainly, they’re probably both.
Easy Consumption
First of all, your hook should be easy to consume. This means, initially, smooth readability. Consequently, if your site has this, you’ve cleared step one. If you’re not sure what “readability” means, just keep reading.
Readability is a search engine optimization (SEO) bot’s measure of how reader-friendly pages are. Google uses it, but they didn’t originate the criteria. Their gauges are based on the Flesch-Kincaid tests.
We’ve already looked at ways you can tailor your site for readability. Start with de-cluttering sentences and paragraphs. From there, fine-tune its flow. You might find it easier to hire a writer if time’s short.
There’s more to easy consumption than readability, though. Accordingly, you have to have done your homework: Is your lead magnet specific to your target demographic’s needs? Is the value obvious?
At a glance, prospects should see something appealing—and easy to get. Don’t bury them under a case study. Think bite-sized (as well as exceptionally tasty). Easy action items and short samples are best.
Present Expertise Through Your Financial Advisor Lead Magnet
Secondly, your financial advisor lead magnet should leave no doubt: Your brand is the expert.
Does it demonstrate your insight? Is your expertise displayed (without getting sounding obnoxious about it)?
Present your potential value. With this goal in mind, make it clear that you’re out to produce helpful content on a regular basis. Besides, you can do this without coming across as conceited.
Do you have a podcast? Does it stink?
If not—and you have a few or more episodes released—consider tying into that pre-established authority. Moreover, if you’ve answered a listener’s question at some point, that’s ideal.
Feed The Need
Let’s face it: Human beings of all backgrounds love instant gratification. In fact, previous generations might say we’re spoiled to it. We like immediacy—and we want it now.
If people enjoyed waiting for data, broadband wouldn’t exist. Consequently, your lead magnet should deliver, immediately, in exchange for their contact information.
Some advisors might be tempted to monetize their site by adding 3rd party click ads. In all honestly, the ROI and pitfalls of this could merit another day’s discussion.
If you must do it, keep it away from your lead magnet. The last thing you need is a pop-up hindering prospects from getting their reward. As a matter of fact, that resulting bait-and-switch will drive them away.
Best Ways To Over-power Your Financial Advisor Lead Magnet
Okay: You’ve got a concept of what’s good. Consequently, let’s take a look at making your financial advisor lead magnet great.
For starters, think fresh: You want it as timely as possible unless the demographic has an evergreen tie-in. If tax planning is your thing—and laws have changed over the last year—consider pointing that out.
The trick to this is keeping on top of it. Pull dated tie-ins before they go stale. Nothing says you’ll-get-middling-value like a reference to something from 2 years ago. With this in mind, set a calendar alert to prune past-its-prime content.
Avoid Reinventing The Wheel
The next step is to keep your approach fresh. Be original. Above all, look for areas to cover that others don’t.
Yes, this will require work on your part, but it’s not brain surgery. Invest some time into surveying your competition’s websites.
Don’t worry. The goal isn’t to steal anything. In fact, you’re doing market research. With this intention, survey what bases they’re covering. Observe where they zig—because you need to zag.
You don’t want to be the 10th cookie-cutter sushi vendor on your digital pier. Maybe it’s time to give seaweed salads a try. In other words, strive to provide your own insights; not echos of popular voices.
Wield Authority Without Wasting It
Remember the part about presenting your expertise?
Here’s the flip side of that: Don’t give them 100% of the enchilada. You want to convey enough to verify your authority. At the same time, hold some of the good stuff back.
Circus magnate P.T. Barnum is often quoted as saying, “Always leave them wanting more.” While this adage refers to show business performances, it applies to lead magnets, too.
Your bait content should be complete and useful. On the other hand, remember that it can also be self-contained. There’s a difference between white-boarding outstanding ideas in person and giving winners away forever to the world online.
Provide unmistakable value with the best of intentions. At the same time, do it without giving away the whole store.
Innovate, Don’t Imitate
Just like your approach, your bait should be as unique as possible. While you’re checking out who’s casting from what angles, bite their hooks. In other words, download their freebies.
Observe what appeals to you and what doesn’t. Note roughly how many sites offer near clones of the same stuff. As a result, if Social Security worksheets and retirement calendars dominate the scene, offer something else.
Have you researched your niche as an advisor? Hopefully you’re answer’s “Yes.”
Assuming you know the demographic(s) well, think about what they, specifically could use. It might be something as simple as a short video explaining Roth vs. traditional IRAs.
On the other hand, it might be a link to a phone app (at Apple and Google Play). Focus on whatever your target group has a need for. With this in mind, identify something they might use and—perhaps—share with family and friends.
Next Steps
Get your lead magnet pulling like a riptide with these action items:
- Take a serious look at your site. Pretend you’re a visitor from off the street: How easy is it to zip to what you want? Does it read smoothly or halt you at points? Be honest, do the SEO homework, and maximize your readability.
- Revisit any demographic research—and update it. If it helps, sit down with a pen and paper to list your target group’s points of need. Clarify your approach and then hone it further.
- Survey your competition. Spend an afternoon browsing their sites. Pay attention to how they pitch, what bases they cover, what fails, and what succeeds. Download their bait for later study, too. Avoid copying them where ever you can.
- Watch your expiration dates. Even seemingly evergreen content can get tired. Set reminders to freshen up your bait, approach, and content. The sharpest of websites, with no updates, can suggest indifference to visitors.
Don’t stop learning now! Our Supercharge Your SEO series continues here.