Serve First, Sell Later Marketing
Serve First, Sell Later Marketing
#18 How To Fill Your Prospecting Pipeline
In this enlightening episode, I talk about how to create your prospecting pipeline by building an email list. I lay out the stepping stones for developing an invaluable email database, armed with fail-proof lead magnets that magnetize your ideal clients and establish you as someone they can trust! Many legal and financial professionals don’t do this and it’s an integral part of growing a practice! From the creation of compelling e-books to engaging webinars, I provide you with the insider knowledge to craft offerings that resonate deeply with your prospects needs, nurturing not just leads, but creating a thriving community of clients!
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Key Takeaways:
- The unreliability of social media platforms for consistent lead generation and the power of an owned email list.
- How to create compelling lead magnets that attract and retain the ideal client base for legal and financial services.
- Building and nurturing relationships through targeted and personalized email campaigns.
- Ways to segment and target your lead magnet for maximum impact.
Chapter Summaries:
- (0:00:00) Benefits of Building an Email List: Why owning an email list trumps depending on social media and how to utilize lead magnets effectively.
- (0:05:26) - Importance of Lead Magnets in Marketing: Deep dive into crafting lead magnets that resonate with clients and demonstrate professional expertise.
- (0:19:08) - Building Relationships Through Email Marketing: The strategic importance of an email list for fostering long-term professional connections.
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00:00 - Sylvia (Host)
Hello everyone, and welcome back to episode number 18 of the Serve First, sell Later marketing podcast.
02:05
We all know that social media is a really powerful tool for connecting with people and building a brand, but have you ever considered the limitations of relying solely on social media for lead generation? So think about it. Social media platforms are constantly changing their algorithms, making it harder for your content to reach your audience. Plus, with all the noise and competition, it's tough to really stand out and find those ideal prospects. So what I want to talk about in this episode is how to build a prospecting email database that will take your lead generation to the next level. So what I'm talking about here are lead magnets, and these are powerful tools that can attract potential customers and give them a reason to provide their contact information to you, and that's typically in the form of an email address. So, whether you're an experienced or a new legal or financial professional, you really need to invest time in building your email list yes, I'm talking about your email list especially if you're looking to grow your professional practice. So in this episode, I want to talk about why it's so important to have a growing prospecting email list and spend some time chatting about how to actually create lead magnets and the many different types out there, as well as how to promote them, so that you can get your ideal audience providing you with their email address, and this, in turn, creates a prospecting pipeline for your professional practice that will be filled with warmer leads and not colder ones.
03:54
So you might be asking yourself does email still work and isn't it a bit old school? And the answer is yes, it still works and it's a really powerful tool. In fact, the average email open rate across different types of businesses and industries is approximately between 30 to 40 percent and this is according to MailChimp and the average click-through rate is approximately 2.7%. So we also know that approximately 99% of email users check their email inbox every day. So it's absolutely a marketing channel that you must continue to use and grow consistently. But it's not just about getting your message seen. It's about building relationships, and when you have an email list, you actually have a database of people who are interested in what you have to offer, and you can segment that list, you can send targeted messages and you can really tailor your communication to meet their specific needs. It's almost like having a VIP section for your most engaged clients and prospects like having a VIP section for your most engaged clients and prospects. So where it gets even more interesting is in customer relationship management, or otherwise known as CRM, and with an email list, you can actually track the interactions, you can understand your customer behavior and you can even predict future sales. So, once again, it's a very, very useful tool.
05:25
So, while social media is amazing for building brand awareness and engaging with a broader audience, when it comes to converting leads and nurturing customer relationships, email gives you much more control and, some would argue, more successful at converting a lead into a prospect, and so I think it's really important to stress that, when you own your email list, you have direct access to your subscribers' inboxes, which provides a level of control that social media platforms simply can't offer. So you have control over how you use it, how you communicate with your subscribers, and you're not at the mercy of changes in algorithms or platform policies, and I think something that a lot of professionals might not give a lot of thought to is that if your social media account were to be compromised or shut down, you would have nothing. You wouldn't have an asset of followers. So relying solely on these social media platforms is dangerous and it leaves you vulnerable beyond your control. So this is why we advocate for growing and owning your own email list, and a lot of legal and financial professionals don't spend a lot of time here, and I think it's a missed opportunity to really grow that database of followers that you actually own and you get to establish a direct and stable channel of communication with them, which ultimately leads to fostering deeper engagements and providing greater control over your marketing efforts.
07:06
And so, for those of you who are listening to this podcast and you may say, well, I already have a lead magnet you're still going to want to listen to this full episode, because, as your audience's needs and preferences are constantly evolving, so will the need to freshen up your existing lead magnets or create new ones, and you want to also ensure that you're maximizing your visibility and chances of reaching potential prospects, and I'm gonna actually be talking about that further in this episode. So, if you already have a lead magnet, please continue to listen on, because I'm gonna be sharing some really valuable tips, all right? So let's start with the basics. What are lead magnets in simple terms? Please continue to listen on, because I'm going to be sharing some really valuable tips, all right, so let's start with the basics. What are lead magnets in simple terms? So some of you know what they are and some of you may not, but chances are the majority of you have subscribed or given your email address to get your hands on a lead magnet. So lead magnets are incredibly important to growing a professional practice. They're the incentives that you offer potential clients in exchange for their contact information and, when done right, they're one of the best tools for collecting leads and building your email list. So let's break it down further.
08:23
Lead magnets are a way to introduce yourself, showcase your professional expertise and build trust and in today's digital landscape, trust is more important than ever and free trials. They could include newsletters, white papers, research studies, quizzes, calculators, templates, strategy calls, etc. Each one is really designed to appeal to different target audiences and solve very specific problems. So, for example, you could create an e-book that provides valuable insights and guidance on issues such as child custody or maybe divorce, and this can help establish your expertise and attract potential clients who are seeking information on these topics. So another example of a lead magnet is hosting webinars on a legal or financial topic that matters most to your ideal market, and this can help potential clients understand the process and provide value, all while capturing their contact information. And, of course, when you have this contact information, you can continue the conversation. You can follow up with them. You have opportunities to actually have conversations with them. Okay. So the best part about lead magnets are that they're really versatile, so they can be a simple PDF download, they can be a video tutorial or even an interactive quiz, and the key is to provide value and make it easy for your audience to take the next step. You, you, okay.
11:25
So let's switch gears for a moment and talk about how to make the most of your lead magnet, and so that is how to create one, or maybe change it and make it better, and that starts with ensuring that you are aligning with your target audience's needs, pain points and interests. So let's assume you are a divorce financial planner and you're trying to attract potential clients. One really effective lead magnet that you could create is something like a divorce financial survival guide, and this guide could cover topics like how to divide assets, understanding alimony and managing child support, and I think, by providing valuable information on these topics, what you're actually doing is you're demonstrating your expertise and you're helping potential clients understand the process. To make it even more effective, you could personalize the guide for different stages of the divorce process, so you could have separate sections for the initial consultation, you can have a section for the discovery phase, you can have a section for the settlement agreement, and so when I talk about sections, I'm really referring to the different stages, and this would make the guide more engaging and easier for potential clients to consume. So, in terms of format, you could offer the guide as a PDF download or even create a series of short videos that cover each section. These are all lead magnets.
12:59
So what this example demonstrates is that we've made the lead magnet relevant. We've made it valuable and easy to consume. Those three things are really imperative. So you want to promise quick results or a quick win that delivers on that promise, and that means your lead magnet, as I mentioned, needs to be easy to understand. It has to be actionable, and you really need to be giving a lot of value to your audience. So, as an example, we've created a lead magnet. In fact, you'll find a link to it in the show notes so you can access it if you provide us with your email address, and what it is is it's a marketing planning guide for professionals, and it's a really comprehensive workbook that's 22 pages long. Okay, so this is a great example of something that is really valuable enough to guide professionals, to map out their marketing and get them implementing right away.
14:01
So it's important that your lead magnet be personalized to your ideal target market, and so personalizing your lead magnets can make them more engaging and effective, and I think when you tailor your content to your audience's needs, to their struggles, to their pain points, you will see much better results. So how do we promote lead magnets? Much better results. So how do we promote lead magnets? And that's a really important question, because you've put in the hard work to create a really valuable tool, but now you need to get the word out there and make sure that your potential customers know about it, and that's where the promotion strategy comes into play.
14:41
So let's talk about social media. This is a really great way to reach a wide audience and get your lead magnet in front of the right people. So a strategy that we see a lot of success with we teach our clients how to do is creating a social media post about a struggle or pain point that your audience is dealing with with a quick win or solution, by downloading your lead magnet. So you can include the link for them to provide their name and email address, and you need to demonstrate to them how your tool or lead magnet will help them achieve that quick win of some kind. So that's a great example of how to promote your lead magnet.
15:24
You can also send this out to your influencers or referral partners and ask them to share it with their audiences. And I think leveraging social media is really just the beginning, because you can also integrate this into your website. You can create a dedicated landing page that clearly communicates the value of your offer and makes it super easy for people to sign up. And don't forget to sprinkle these opt-in forms throughout your website, throughout your social media sites, and I think the more opportunities you give people, the better it's going to be for people to access the lead magnet. And then, of course, there's email marketing. This is another powerful tool to promote your lead magnet and nurture those leads, and I think crafting compelling email campaigns that showcase the benefits of your offer and make it irresistible are going to be really important.
16:17
If you're speaking on a stage, if you're a guest on a podcast, you can offer the lead magnet as a closing call to action. So you can also use paid ads to promote your lead magnet. However, I'm gonna really forewarn you it can get tricky and it can get really expensive. So my advice is to consult with a marketing professional who knows and understands ads really well before you invest, because it can be a great tool to get the message out there, but you really need a professional guiding you through that, because it can get very costly. Okay, if you have a LinkedIn newsletter, you can add it in there as well. You can share it in your DMs.
17:01
There are so many ways to get this lead magnet out there. When it comes to creating those landing pages and opt-in forms, the key is to keep it simple and focused. There are so many tools out there that can help you build these landing pages from lead pages to ConvertKit to HubSpot these are really just to name a very few. There are so many out there. So you want to make sure that your landing pages have a value proposition that is crystal clear and eliminates any unnecessary distractions. You want to make it as easy as possible for people to sign up and get their hands on your lead magnet, so that's why the landing page has to have that very strong value proposition and it has to be laid out in simple ways so that people understand why it's important that they get value proposition, and it has to be laid out in simple ways so that people understand why it's important that they get their hands on it, and then it's just a click of a button to actually get it.
17:55
And finally, I want to talk a little bit about segmentation and targeting, and I think by understanding your audience and their specific needs, you can tailor your lead magnet campaigns to be more effective. So, for example, maybe you have a different lead magnet for couples who are currently going through divorce and then you have a lead magnet for those that are in the after divorce stages. Two different messages, and so you want to capture both audiences, but you can't capture it in one lead magnet, so you create two. Another thing you can do is you can offer a special version of your lead magnet to maybe only your email subscribers. The possibilities are endless.
18:36
So building and growing your email list isn't just a good idea. It's really essential for taking your professional practice to that new level. And, as we've discussed in today's episode, relying solely on social media for lead generation can leave you vulnerable to changes beyond your control. So I think it's going to be really important to invest time and effort into just one lead magnet. Start with one and promote it effectively, and you can build a prospecting pipeline of warm leads for your practice.
19:07
So remember, email marketing isn't just about getting your message seen. It's about building relationships, and with an email list, you're doing exactly that because you have a direct line of communication to your most engaged clients and prospects, you get to track your messages, your interactions with them, and you really have the opportunity to nurture those relationships. So if you're ready to take your professional practice to the next level, start by focusing on growing your email list today. Yes, it's going to take time, yes, it's going to take effort to grow, but it is a valuable asset that will pay you dividends for years to come, and I think what a lot of professionals regret is that they actually didn't start building that email list sooner. So thank you for tuning in with me and if you found this episode valuable, I would be most honored if you subscribe to the podcast rate and leave a review, or please share this with anyone who you might think would most benefit. And until next time, always remember there's no better time to start than today.