Three Reasons Sales Funnels Don’t Work Anymore

Sales Funnels Are Dead

 


Legacy sales practices are quickly becoming obsolete for financial advisors.


 
 

The three main reasons sales funnels don’t work anymore:

 

  • Time

  • Product Focus

  • Transparency


 
 

Time

There simply not enough time to try and be all things to all people in a sales cycle in which 50 no’s will render you one yes. Your website must become more than a mechanism to gather leads. You must design a user experience that overlaps the client and the prospective client journeys. Treating your engagement hub as a trap for gimmicky sales practices is a death sentence for your reputation. The marketing sales concepts that are being pushed on you (as an advisor) by marketers, are the same types of sales rhetoric you were probably taught in your rookie advisor training classes. The gimmicks they are peddling are built on a foundation of lies and opacity. You don’t have time to gather the metrics they need to justify their existence when they should be helping you discover the metrics you need to survive in a robo-world. There is no time for awareness, interest, decision, action… that mode of lead generation is no longer relevant because you are not selling products… which leads us to reason number two.
 
 

In a robo-world there simply isn’t enough time to compete in the arena of product sales for shrinking commissions.

 
 

 

Product Focus

You are not selling products in a vacuum behind a curtain of opacity surrounded by smoke and mirrors. The focus of the modern advisor must be on the services that he or she provides that are unique to the individual and relevant to his or her ideal audience. People can buy products from their smart phones Clients don’t need an advisor for that. They don’t need you to “sell” them anything anymore. What clients need is a trusted source of wisdom… which is what you are. Obviously, a trusted source of wisdom would never use anything as shady as a product sales funnel to convey their client-centered focus to their ideal audience. Because that would be impossible. Which leads us to why that would be impossible to pull off in the modern era of financial services… transparency… reason number three.

 


 

Transparency

 
In the digital age of transparency clients can see exactly where they are in the process of your sales funnel. They can see how full of shit you may or may not be… and they can see through your smoke and mirrors sales pitch as well. In a robo-world you have to become authentic. You must be able to convey your genuine concern for your clients 24/7.
 

 

Do you think you can convey that message?

In which you are using obvious sales tactics?

By using sales gimmicks from the late 1990’s?

Gimmicks to fill your sales funnel with leads?

 
They can see right through that… it’s not that hard to see your obvious lead generation and “sales marketing prowess” when you lock content behind gated walls on your website to gather email addresses.
 

The same transparency that is killing the sales funnel and traditional lead generation can make you irreplaceable if you understand how to leverage it for the good of your clients and for yourself.

Who you follow and what you like on social media is indicative of the type of services you offer your clients. If you are following sales gurus and liking their content, it is very simple for clients and potential clients to discover – what drives you is the commission – and not the well-being of the client.
 
It is this digital transparency that will be your end if you don’t walk away from the antiquated lead generation/sales funnel concept.
The same transparency will help you build filters to discover reputable digital marketing experts to guide you to the metrics you must gather to survive in today’s robo-word.

 

 


 

 

So What Can You Do?

Be proactive… be responsible… be yourself.

Your digital footprint tells your clients and your prospects exactly where you stand in relation to their well-being versus your sales commission. In a robo-world advisors must think differently and act accordingly, because sales funnels are dead. Advisors must first understand and identify their authentic relevant value before they can become and remain relevant to their ideal audience.
 

Right now we live in the greatest era of opportunity for financial advisors. WHY? Because… Your ideal audience is seeking a trusted source of wisdom… and that is YOU.

 
Discover more about how to shift your focus from sales to service, leverage your time efficiently, and take complete advantage of transparency to survive in a robo-world. You must become empowered to think differently about the value you provide. You must be able to rethink what might be considered as acceptable practices in the new era of financial services. Sometimes you just have to let go of the past to stay relevant.
 
 
One final thought from the author… If you don’t say goodbye to legacy concepts like lead generation and sales funnels, you can kiss your assets goodbye.
 
Keep it Tangible,
 
Grant

Your Future Awaits

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Are You A Trusted Source of Wisdom?

Content Curation

Advisor Why

Content Curation

In this blog I curate articles from around the world because there’s no sense in reinventing the wheel. There is no shortage of incredible content available for advisors that will help them achieve the big three…
  • amplify their value
  • control how that value is perceived 
  • maximize their relevance
What I do in this blog is simplify the process for finding that information. I make it categorically available for advisors so they can simplify their lives.
Read the article below and the notes that follow to add tangible advisor alpha to your business.

Curated Article

As an information scientist, one of the most depressing aspects of modern social media is the way in which it is reshaping our global society to focus on the what, rather than the why. From the sciences to the humanities to the arts, the underpinning of the scholarly knowledge that advances our collective society is the understanding of why the world is the way it is. Documenting the “what,” the state of the world, is a necessary and important component of that process, but without the synthesis of those observations into the “why” that describes how they came to be and explains their outcome, we can never truly understand our world. This raises the question of how to restore the “why” in a social media world that teaches us that all that matters is the “what.”

The social media revolution has turned everyone with a smartphone into a realtime embedded reporter, live chronicling their own lives and events they experience and commenting on events happening elsewhere across the world. When journalists and tech experts start seeing a strange survey from Facebook pop up in their newsfeed, their first reaction is not to turn to the company to learn more about the feature, to examine it through the lens of proper survey design, to consider the implications of its design in terms of limiting the insights it can provide or to ruminate deeply on what it means for Facebook to be asking such a question and its societal implications. Instead, they all respectively race to be the first to plant their flag in the Twitterverse of having been among the first wave of people to mention it. Speed matters over comprehension.
The realtime conversational nature of Twitter in particular is often touted as offering a global scale collective collaboratory that extends the realtime nature of environments like Slack to the entire planet, allowing adhoc teams to form across geographic, disciplinary and cultural boundaries. The reality couldn’t be further from the truth. Instead of the world’s citizens working together towards a greater good, cataloging all known information about an emerging event and trying to synthesize a basic understanding of its scope, scale and characteristics and bringing in experts from related fields to comment on the potential meaning of each element, the online conversation simply devolves into a bunch of users saying they saw it too and competing for the snarkiest or most meme-worthy response in their never-ending search for viral fame.

Knowing that Facebook is running a new opinion poll might be of interest to media strategists, investment analysts and government regulators, but just knowing there is an opinion poll is of little use without the why, the understanding of what Facebook intends to do with the collected information.
Similarly, in the physical world it can be of great use to first responders to get a realtime alert from a surge of tweets in a particular city block reporting a giant plume of smoke emerging from the roof of a building. The problem is that without knowing the why, it is impossible to know if that “smoke” is simply steam from a vent, humidity from an air conditioning plant, ordinary pressure exhaust from a liquid nitrogen storage system, routine maintenance sandblasting or simply a rooftop party featuring a fog machine. Focusing on the “what” can mean critical resources diverted for a false alarm that makes them unavailable for a real emergency elsewhere in town.

At least one can argue that having increased situational awareness can be of benefit to first responders in alerting them to situations they may wish to examine further. The same can’t be said, however, for the deeper implications of teaching an entire generation of people that relentless focus on speed over comprehension is what affords one success in life.
Perhaps most remarkable is the degree to which academia has embraced social media to discuss issues ranging from developments in their own fields to events and topics completely astray from their own expertise. In contrast to the general public, which might be forgiven for focusing on simplistic reporting of what they see in front of them, the scholarly and scientific worlds emphasize the search for understanding, that the why matters far more than the what.
One might assume therefore that academics would bring that search for understanding with them to the social sphere, lending a critical perspective to raging debates and seeking to explain why it is that everyone else is seeing what they see. Instead, much of the academic discourse on social media is little more esteemed that the rest of the billions of ordinary users they engage with.
Rather than the measured informed discourse and heavily cited and referenced exposition that would be found in an academic journal or the Q&A section of a conference, these same academics that ordinarily pepper their speech with “isms” and speak as though they’ve memorized Roget’s Thesaurus from front to back will suddenly devolve to one-line responses and petty flame wars where the most meme-worthy response wins and adherence to scholarly norms of debate, including sticking to factual statements and citing the source of all claims, goes right out the window.

Putting this all together, social media’s fixation on realtime updates and the unfortunate fact that it is the most entertaining comment rather than the most enlightening that tends to go viral and reward its author with fame in today’s world, means we are teaching an entire generation to focus on information in isolation, rather than spend the time to properly situate it in context. Indeed, this is one of the driving forces behind the ease with which false and misleading information spreads on social platforms. When even the academic world discards millennia of tradition that evolved to maintain the scholarly and scientific world’s focus on the why over the what, we run the risk that social media will ultimately permanently refocus humanity to forget the past, ignore the future and live in a world in which information no longer has any context and where all that matters is what we see before us at this moment, not the understanding of why it is that the world is as we see it. In short, for the thousands of years of human history that we have sought to understand our world, we stand today amongst the unimaginable riches of having all of human knowledge at our fingertips and a quarter of the world’s population just a mouse click away, but rather than harness this brave new world to reimagine how we understand ourselves, we have instead taught an entire generation that speed matters more than explanation, entertainment more than enlightenment. From the Age of Enlightenment to the Age of Entertainment.
Based in Washington, DC, I founded my first internet startup the year after the Mosaic web browser debuted, while still in eighth grade, and have spent the last 20 years…
Kalev Leetaru

 

Are You A Trusted Source of Wisdom?

Advisors must be more than social influencers to survive in a robo-world.

In a robo-world advisors must become more than simply social influencers. The seriousness of the undertaking of your calling must be made tangible within your own unique CliqPage.

Now more than ever your ideal audience is in search of a trusted source of wisdom.

This isn’t entertainment and it’s more than just enlightenment… this is about the quality of life, the dreams, the goals, and the aspirations of your ideal audience.

This is a serious business and the context of your meaningful digital engagement must reflect exactly how serious this business is.

The scholarly implications and the meanings in academia referred to in this article will all sort themselves out… my genuine concern is for advisors and their clients… my concern is for you… it is entirely up to you to create the meaningful context that will guide both you and your clients through the digital noise that grows exponentially in today’s robo-world.

You must be able to walk the talk.

You must promise your behavior.

Your clients must promise their behavior to establish a trusted collaborative relationship.

You must frame the relationship with your rules.

Your filters must be designed by you topically to lead to the value you can control the most.

Discover your why and make your what relevant.

This is how.

Promise Your Purpose

Learn More About You

Introspection Is The Key

It's All In Your Head

Introspection The Key To Your Survival

This is why introspection and value development are the keys to your survival in a robo-world.

It’s not leads… it’s not marketing metrics…  it’s not a sales funnel… it’s not copying what other successful advisers have done…

The key to your survival already exists… the big question is…

Do you have the ability to discover and define it?

In a robo-world where change is exponential you do not have the luxury of time to eventually discover your authentic relevant value, you must discover your value immediately and proactively define and design that value for digital consumption so it can be made available 24 hours a day.

One luxury you do have made available to you, is the opportunity for introspection 24/7 offered exclusively here…
it’s the express lane for advisor survival in the digital age of financial services.

Take a look at the infinite progression of advisor introspection made available exclusively for you.

You must be proactive in the development of your own relevance to survive in a robo-world.

Nobody else is going to do it for you.

It’s nobody’s business but yours.

Be proactive and take advantage of the opportunity in front of you right now.

You Have The Answers

We Have The Right Questions

Advisor By Design

TOP TRAITS OF RELEVANT ADVISORS

 

They know they can’t be everything for everyone.

They use the word “no” as a strategy.

They are known for the quality of their questions.

They are never complacent.

Their reputation precedes them… digitally.

They have a defined process for their businesses.

They have work / life balance.

They are active philanthropists.

They work only with ideal clients.

They control exactly how their value is perceived.

They realize… their unique value is precisely what makes them relevant.

 

What is your unique, authentic, relevant value?

 

 

Take Control