AUSTIN, TX / ACCESSWIRE / January 22, 2021 / ARMSREACH, a marketing solution for financial advisors, is warning its customers against paying for leads as a strategy for growth. The company is founded by Joseph W. Crawford and it offers a complete client acquisition and reputation strategy. Customers can find out more about the company at https://www.armsreach.online/.
According to the company, buying leads is akin to wasting money for a number of factors. Primarily, the purchase of leads creates a dependency on the source of leads. The company says that financial advisors might end up setting up their entire business model on the backs of the capabilities of the lead generation vendor. There is little in the way of a contingency plan when the seller goes through trouble or decides to change the business relationship. The preferred leads provider can stop their services either willingly or shut down due to a number of reasons out of the financial advisor’s control. The primary leads provider can also hike up the prices, cutting into the financial advisor’s bottom line without a moment’s notice. They might also decide to alter the quality of leads, preferring to do business with someone else.
Another reason for not depending on an external leads provider is to maintain the quality of leads that are being generated. Collecting high-quality leads that stand a chance to convert is hard and takes time. It takes money and effort to set up a marketing channel that attracts a healthy viewership. Sooner or later, all marketing wells run dry and providers have to look to other sources. It is difficult to create newer sources that reach the same number of people with the same market requirements. This causes stagnation of quality leads or an increase in cost to gather the same high converting leads as before.
The high net worth individuals who are the most lucrative market for financial advisors already have a system in place for managing their finances. They might find their financial advisors from their own research or from referrals from friends and family. Very rarely do high net worth individuals wait around for financial advisors to seek them. Providers that promise such leads may have generated them from something as simple as a signup form on a website. This leads to many poor quality leads that are still sold at a high price. Certain lead sources might also be of suspect quality as they can be self-reported.
Finally, there is a lot of competition in the space and there is no hope for survival without carving a niche for oneself. It is very important to get established as an expert in the field to make the quality leads find the advisor instead of the other way around. Converting cold leads is also very difficult as people naturally don’t trust cold callers. Often times a phone call is not a good introduction to a financial advisor’s services. It can lead to a poor first impression. The person on the other side of the line may be busy or impatient. There is no established authority to rely on when cold calling clients, requesting their time.
ARMSREACH provides fully-managed marketing strategies for financial advisors to attract their ideal prospect and monetize their reputation. It aims to give advisors the time and freedom to focus on their clients. The company claims that it is designed for long-term lasting results. ARMSREACH provides an in-depth analysis of your company and customers. Beginning with a deep discovery of the business, its practice, its customers, and its specialty or niche. They then provide a customized multi-channel prospecting strategy tailored to your business’s needs. ARMSREACH then builds a qualified lead list of your ideal prospects who have expressed an interest in what you have to offer. ARMSREACH uses a results-driven approach, by testing everything, and optimizing the prospecting so that it’s scalable and constantly improving. Advisors can find out more about the company by visiting their website and downloading a free ebook.
For more information about J.W. Crawford’s ARMSREACH, contact the company here:
J.W. Crawford’s ARMSREACH
J.W. Crawford Consulting
13359 North Highway 183 Suite 406-767
Austin, TX 78750
SOURCE: J.W. Crawford’s ARMSREACH
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