At the beginning of each fiscal year, many businesses set growth goals, but what happens when there is a large gap between growth goals and the reality of how well the business performed? Many business owners will state the reason for the large gap between the two is simply that “times are changing”. With technology improving and changing the way people gather information and communicate with one another, it is no surprise that some methods of communication perform better than others.
So how do you reach new clients when the old tried and true methods aren’t working? Many financial advisors will rely on email to reach out to potential clients. However, because of the overuse of email as a primary form of communication, the open rates of cold or even warm emails are significantly lower than they have ever been.
Why LinkedIn is a Great Channel for Lead Generation
Social media can seem like a foreign language if it is not first nature to you. Most people do not know where to start. LinkedIn is not just a recruiting platform; it has evolved throughout the years. Now there are over 600 million users on the platform, and about half of those people check in on it every single day.
Social networking connects you to the individual you are targeting. By utilizing LinkedIn to reach out to a potential client, you are enabling the individual to learn more about you via your profile – something an outbound email cannot do. Your targeted person is able to see what you look like, view your work experience and educational background, and see if you have any mutual connections.
Sharing content is valuable on LinkedIn. When you share content on LinkedIn, it is distributed to your network, and most people’s networks on LinkedIn are made up of friends, family members, and colleagues. Posting content is great for nurturing a potential lead but, for initiating a new engagement, it can be a little more challenging. Starting with a direct engagement strategy can help turn a cold lead into a new client.
Direct engagement means reaching out directly to your target niche via social channels to initiate connections and conversations.
Direct engagement starts in the prospect’s inbox. You can target specific individuals based on their profiles such as C-level executives, or people who fall within your business niche. This type of engagement can help you expand your network connections. Reaching out to individuals on LinkedIn can help you get past the “cold” outreach phase of the lead generation process because, instead of a cold email or call, people are able to see who you are and what your company is about based on the information in your LinkedIn profile.
Implement a Direct Engagement Strategy
The first step in implementing a direct engagement strategy is finding LinkedIn prospects who fit the profile of your ideal client. This can be a process of eliminating people who you do not want to find in search results to find a good list of individuals you want to target.
After you sort and find the people you think would be great clients for your practice, you should send each person an individual connection message. These short messages should be meaningful and highly targeted to the individual. Then, wait for the prospect to connect with you. Once this individual connects with you on LinkedIn, it is the equivalent to a handshake. You have the freedom to then communicate with them. At this point, you will nurture the lead by engaging with them through your LinkedIn inbox.
Using LinkedIn as a lead generation tool can seem difficult at first but, once you get the hang of sorting and finding individuals who fit your ideal client mold, the process will become second nature. One of the biggest benefits to using LinkedIn for lead generation is that it is free to use. This is an easy, cost effective method that can directly help you build your business, brand, and social media presence.
To find out more information on this topic or how SFA Partners can help your business, please email us at email@example.com or call at (888) 447-2444.