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Lead Generation (Financial Advisor)

Large Wreath

Brought to you by:

WE Development

Large Wreath

Content written by:

WE Development

Last Updated:

9 June 2021 at 2:43:15 am

Image by Daniel Mirlea
Job Process

To continue by bringing financial literacies and plans to more people.

As the turnover rate for this role is high, the public's perception of our service commitment can be hard to manage. Here, we identified the few ways financial advisors generate leads;

1) Door to door knocking 

Always fact-find first and the questions you asked has to be relevant to the products you are representing. 

If the person is interested, they may invite me into the house or give me referrals. 

Typical reactions are general excuses to reject you. Thank them and move on. Each door knocking session is about 3 hours per block, depending on the residents' reactions and conversation. The law of large numbers binds the effectiveness of this activity.

2) Roadshow

We pay for our slot in the roadshow. Typically ranging from $50 to $250 per day. This excludes chipping in with colleagues for puller (individuals who are hired to attract passerby into the booth) and other booth attractions like; popcorn, dart throwing, candy floss, balloon, mini playground. 

My lead generation of getting contacts range from 0 to 30 people per day. This is subjective based on different locations and people.

3) Cold-calling 

I can either do the calling myself or hire telemarketer for $6 to $10 per hour including commission up to $5 for successful meet up and up to $15 for successful conversion. 

Occasionally, we chipped in as a group to reduce the cost of hiring. Leads has to be shared evenly and systematically. The successful conversion rate depends on the quality of leads. 

4) Social Media

I will post information about financial awareness and trends. Then, message those who react to the post in a professional manner. I will also message people on LinkedIn to build a network from there.

5) Referrals 

I will check with friends and existing clients if they have contacts (interested in financial products) to be introduced to me. The foundation of this builds from the warm market (who are those you already know).

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