Many advisers and financial planners wonder how to generate leads for pensions.
It can be a difficult problem to solve. Many people looking for help with their retirement may not be the right candidates. You may be unable to profit realistically from their inquiry because they might have very little or no pension savings.
Pension leads in UK are often people in their 50s and above. This group can present its challenges. For example, a greater suspicion of technology or a reluctance (e.g., Contact forms are available on websites. These are just a few issues financial planners need to address to generate pension leads.
Should you use a third-party provider to send inquiries your way? Or should you build your lead generation infrastructure?
Changes and new trends can also affect the behavior of pension leaders. COVID-19 is an excellent example. Due to strict UK lockdown regulations, many traditional lead generation strategies, such as local pension seminars by financial advisors, were impossible.
Given this complexity, it is no surprise that many financial companies struggle to generate leads for pensions. It will be open with you and say that there are no shortcuts. Instead, you will need a solid marketing strategy that it can modify to gain insight into the factors working in your favor for pension lead generation.
Below are some ideas on how financial planners could improve their efforts to acquire pension leads in 2022. We hope you find this useful. Please contact us to learn more about how we can help financial companies acquire more pension leads.
Table of Contents
Third-party vendors are a different story.
Today, there are many directories for financial advisors. Websites such as Vouched For or Unbiased are useful tools for businesses seeking to connect with potential clients who need advice. They have their limitations.
UK financial institutions are increasingly using these platforms. It makes the space more attractive, often increasing prices for businesses that rely on them.
As more local businesses sign up, prospects may not have had the option of only a handful of local financial firms a few years back.
Naturally, this can decrease the number of pension leads for each financial company, as the same number of “fish” is now being divided amongst “fishermen” who have gathered around the pond.
While the UK’s population is getting older, which could lead to increased pension best leads in some areas over time, the trend toward listing more financial companies in directories does not seem to be slowing.
While you might want to sign up your business for these services (you never know what might happen), we recommend not expecting it to open the floodgates to your pension lead generation. To gain more volume, you will need to have more.
Create a SMART Plan
What pension leads would you like to generate in a given time frame?
What characteristics would you like to see (e.g., the realistic conversion rate (CR) for investable assets? Financial planners often expect too much from their partners and lead generation efforts.
Be realistic about your expectations. As a small, relatively new financial planning firm, is it realistic to expect 100s of pension leads per month (if that was possible)?
Instead, you could aim to generate 6-12 leads per month for the next 6-12months as your campaign(s) is up and running.
Creating a marketing plan to help you reach your pension for leads is easier once you have a clear picture of the numbers. It will help you determine your budget for an agency’s monthly marketing retainer if you want to take this route.
Invest in yourself
We started by referring to whether it should use third-party pension lead providers. You might now see that we favor developing your lead generation infrastructure, perhaps with support from other vendors.
It means that many financial companies will invest in a website and brand. For many prospects, this will be their first contact with your company. You must make a good impression.
It might be necessary to develop various brand/marketing assets to stand out from your competitors. You could collect testimonials, 4/5-star Google Reviews, and client videos for social proof.
These assets will help you to establish your lead generation infrastructure. It could include building your website’s SEO or crafting a Google Ads campaign. It might also involve developing a newsletter for clients and “influencer marketing,” e.g., via social media and/or industry magazines.
One of the greatest benefits of having your digital marketing infrastructure is that you can have greater control and ownership. You can rely less on third-party platforms and other users and are not obligated to share your pension leads with anyone else.