Develop Multiple Lead Channels

Joe Pessetto a Financial Advisor with Wells Fargo Advisors, LLC passed on great advice he learned from a wise boss: “In my opinion, you always need to create at least three avenues with which to build your business, and as you get busy and/or increase your success, don’t abandon them.” In other words, develop (and nurture) a multi-pronged lead generation system.

Joe and his business partner Financial Advisor Zach Karr have truly integrated this advice into their client practice. To assure a steady stream of new client leads, Zach and Joe use a four-pronged approach:

  1. A weekly, hosted radio show, called “Two For the Money”. As mentioned in last week’s post, the radio show does a lot to build brand and credibility.  But it also provides a real service of providing education for people that don’t have access to financial advice. Directly through listeners and indirectly through word-of-mouth, the show provides a steady stream of client leads.
  2. Networking with partners, or professionals in related fields - estate planners, accountants, benefits coordinators, insurance professionals, private bankers, mortgage brokers, etc. Zach and Joe are extremely selective in who enters this Partner list of approximately 50 professionals. They know that if they refer a partner who in turn helps a client or prospect, it reflects very well on them. Conversely if the referral falls flat, their reputation is tarnished.
  3. Networking at events where an ideal client is likely to be – Zach and Joe scan events in the Washington DC area where their target clients are likely to participate. In their case, they focus on Alumni Associations, and business owner events and certain speaker series.
  4. Client Referrals – Obviously the best form of marketing is having someone else “selling” for you. Zach and Joe help focus the referral process by educating ideal clients, and centers of influence (their partner list above) on how to position them, and what to say. Zach and Joe have also created an ingenious means for delivering great value for their clients -- as well as a natural referral mechanism. Clients in their portfolio have access to an exclusive service: Joe or Zach will give free advice (within legal guidelines, of course) to any client friend or family member. For example, after the recent oil spill, one client had Zach call his boss who was understandably concerned about his stock holding. Zach’s 20 minute call generated trust and value to all parties. Zach and Joe are clear, however, that this advice does not mean they will pursue the friend or family member as a client.  Any new client needs to fit with their approach and style. (More on this in next week’s blog post.)

Your Next Best Three Steps:

1)      Select your Lead Channels. Where are you most likely to get sales leads? The web? Referrals? Events? Commit to at least three lead channels.

2)      Design the process whereby you will cultivate and select leads. Be focused and specific with the process by which you will find and cultivate leads. Dedicate regular time to each channel and constantly improve based on learning.

3)      Give Others a Reason to Refer. Giving free advice, a newsletter, useful tool etc. creates a means for others to easily refer you in a non-salesy way.

What are your leads channels? Share in the Comments section below.

Next Week: Part 3 Sales Tips from Zach and Joe, Making Sure New Clients Fit with Your Business.

About the Author(s)

Jeanne Rossomme headshot

Jeanne uses her 20 years of marketing know-how to help small business owners reach their goals. Before becoming an entrepreneur, she held a variety of marketing positions with DuPont and General Electric. Jeanne regularly hosts online webinars and workshops in both English and Spanish.

President, RoadMap Marketing

Key Topics

Sales Leads