Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
LinkedIn is where most advisors attempt to “network” and generate leads, given the dearth of options available to find new prospects. Remember the “numbers game” sales approach from the 80s and 90s? It is still alive and well inside of LinkedIn. Many advisors are either hiring LinkedIn “experts” to set them up with a list of what appear to be ideal prospects, or they do it themselves. Then off they go to ping as many people as they can (remember the cold calling days), hoping for a warm reception. The difference between cold calling and LinkedIn is that, in LinkedIn, you don’t feel the emotional punch of being personally rejected. Why? Because there is no conversation to initiate the sales process. It feels painless when your invite is not accepted or when your message is not replied to. It's as if you’re playing a video game. You’re just playing in an artificial simulation, never interacting toe-to-toe with human beings. It's a simulated illusion of hoping that playing the numbers game will create enough qualified human beings to agree to a one-on-one meeting with you. Tons of activity, lots of invites and messages sent, and a very low rate of effectiveness. Is that your experience? Maybe you’re on the other side of the equation, seeing more and more people you don’t recognize trying to connect with you, along with an increasing number of unsolicited messages arriving in your LinkedIn inbox. Most likely, you’re experiencing that more and more. Both sides of the equation create a zero-sum game, where there is no net gain for anyone. That’s what happens when a platform reaches the commoditization stage. By prospecting on LinkedIn, you only commoditize yourself and your positioning. Platforms like LinkedIn have normalized agenda-driven behaviour to such an extent that people have no self-awareness and are out of touch with how they’re being perceived in their approach to selling.
It used to be relatively easy to affordably generate a consistent flow of prospects with these types of online platforms.
But if you’re using them today hoping to land new clients consistently, then you haven’t come to terms with the reality that those days are long gone.
All forms of marketing degrade in efficacy over time – and the more people who adopt a particular marketing format or channel, the faster its efficacy degrades.
It’s like watching a herd amass in one area and assuming that’s where the green grass must be.
The green grass was mostly eaten by the time the herd got there.
The pioneers who discovered the grass are gone. Stay ahead of the herd
They stay ahead of the herd, never with it.
They know once the herd catches up, the grass they found won’t stay green for long.
LinkedIn is alluring in terms of the potential business opportunities that the thousands of people on it represent.
And it’s easy to be seduced by the idea that a quick, friendly message is all it takes to capture one of those opportunities.
But don’t be fooled.
The size of a platform or marketing channel is not reliable evidence of a fertile prospecting environment.
Shift your thinking. The first step to finding high quality prospects for your advisory practice, consistently and affordably, is not to go where everyone else is.
It’s to be strategically contrarian and go where everyone else isn’t.
To build trust with high-net worth prospects, you need a sales approach that positions you as unique and different from other advisors.
To do that, you need a marketing system that bypasses LinkedIn and other platforms like it, where trust has already been trampled into the ground.
To learn more about this strategically contrarian trust-based approach to selling, order your complimentary book and consultation below.
Ari Galper is the world’s number one authority on trust-based selling and is the most sought-after high-net worth/lead generation expert for financial advisors. His newest book, “Trust In A Split Second” has become an instant best-seller among financial advisors worldwide – you can get a Free copy of Ari’s book here and, when you click the “YES” button in the order form, you’ll also receive a complimentary “plug up the holes” lead generation consultation. Ari has been featured in CEO Magazine, Forbes, INC Magazine and the Financial Review. He is considered a contrarian in the financial services industry and in his book, everything you learned about selling will be turned upside down. No more chasing, no pressure, no closing.
A message from Advisor Perspectives and VettaFi: To learn more about this and other topics, check out our podcasts.
Read more articles by Ari Galper
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
