A lead is a lead is lead…but some leads are better than others.
A “better” lead for RIAs and financial advisors may be more qualified than others: for example, a lead who self-identifies as an accredited investor, and provides a business email address on your landing page (in exchange fore a free eBook , for example)…and a lead with a phone number is likely a qualified lead.
By contrast, a less-than-qualified lead is the prospect who only provides a cryptic personal email address, and ignores the rest of your form…the lines where you asked for a prospect’s name, business address, company name, and business phone.
If you are measuring the success of your marketing lead campaigns simply on how many leads you get, no matter who they are, well, you’ll need to get a lot more leads.
An MQL is a Marketing Qualified Lead. Qualified how? An MQL is a lead that has a better chance of investing with you than other leads. It’s a lead you should follow-up on, either by yourself, if you are the owner, investment manager and chief sales officer, or to your sales team, if you have one.
Other characteristic of a qualified inbound marketing lead include: when a prospect downloads one or several of your firm’s eBooks; when they email you a question; when they open up all or many of your weekly emails; and when they fill out your ”Contact Us For a Free Consultation” form.
Whether a lead is qualified or less so may depend on your prospective investors’ demographic characteristics. Does your ideal client have a common age range, gender, geographic area, employment status, marital status, income level, industry, company size, or job title?
Other online behaviors can help you determine if your leads are qualified or suspect: how frequently they click on your email campaigns; what pages on your website they’ve clicked on, and how long they’ve stayed; are they domestic or international leads; what blog posts they’ve read; and what pages they viewed but bounced from immediately. (All of these metrics are available free with a Google Analytics account.)
Keep in mind that more than half of your qualified leads may not be ready to engage in a phone or face-to-face conversation, let alone sign a contract. The sales funnel from stranger to delighted client may take weeks or months to warm the sale.
Interested in knowing how qualified you and your firm are in gaining more qualified leads? Grab the eBook below: