Regardless if you’re an independent financial advisor, mortgage broker or a big bank in Australia, Lead Generation is a crucial part of running your business.
Generating leads is actually what gives meaning to running the business as it serves as the lifeblood of your organisation.
Hence, you need to make sure that – one way or another – you’re always getting enough leads, and that those leads are of high quality.
But what really is a ‘lead’ and how is it different from a ‘referral’?
LEADS AND REFERRALS
A ‘lead’ is an individual or a business who has expressed the desire to buy your products or services.
A lead may come through different sources such as:
- Your personal network
- Client referrals
- Generated from your marketing campaigns (online or offline).
So, what’s the difference between leads and referrals?
In general, referrals have the added context of ‘social proof’.
Referrals that come from your personal or professional network, are people who know you already though their own network.
For instance, when your accountant refers you to his mortgage broker you are instantly more likely to do businesses with that broker because:
a) there is only one degree of separation between you and the broker
b) the accountant’s endorsement tells you the broker must be competent
c) the accountant’s endorsement tells you the broker must be trustworthy
A high degree of trust is established quickly, and easily. It’s ‘baked in’ to the referral process.
On the other hand, with online leads none of this is evident at the start.
The broker in these cases must work harder to build rapport and trust with any enquiries arising from lead generation.
It’s not ‘good’ or ‘bad’, it’s just the practical reality.
GENERATING LEADS ONLINE
In the past, businesses generate leads through traditional marketing campaigns like post ads, flyers, and media advertisements.
While these traditional techniques can do the job, it may be costly and take time.
Thanks to the emergence of the World Wide Web and the development of more effective marketing strategies such as Inbound Marketing, you can now generate leads at a fraction of a cost.
The main problem of relying on referrals is that you have no control over supply.
Yes, you can develop a referral system but you are still at the mercy of your friends and colleagues to provide you with warm leads.
But the Internet has made it easy to connect with your target prospects, capture their contact details, then, later on, get in touch with them to make your pitch.
When a potential customer is looking online and they encounter your website or landing page, the chances of converting this lead into a customer can be quite high.
Online lead generation makes it easier for your business and your prospects to exchange value.
So we just need to put up a website and the leads will come right?
If only it were that easy.
You still need to design a process that ensures you are attracting the right prospects, and then qualify them so you can increase your chances for conversion.
With our experience at Wealthify, here’s what you need to get right, every time:
- Creative Direction – Develop an offer that is compelling enough for people to click through
- Copywriting – Find the right words to attract attention and persuade your clients to take action
- Web Design – Adjust the look & feel of the landing page where people who click on your ads are directed
- Conversion Optimisation – You need to have experience in testing and improving ads and landing pages to convert clicks into more actual leads
You need to be an expert in all these four elements to ensure success in your lead generation.
And even if you have enough knowledge in these aspects, you may not have the time to do it all on your own.
You can just entrust this important job to Wealthify.
HOW DOES WEALTHIFY LEAD GENERATION WORK?
Online leads provided through the Wealthify system work because the leads are ‘qualified’ though a series of questions in the lead funnel.
We have developed in-house strategies that are already tested and proven to work over thousands of lead generated for other clients.
We run targeted ad campaigns in the name of your business.
Then you can start receiving high-quality leads.
From there, it’s over to you to work your magic for a sale.
Just check out this case study where a client recently closed a massive deal from our lead generation service.