Build a High-Converting Sales Funnel for Your Financial Services Business
The state of your sales funnel will have a direct impact on your financial services business’s growth. By optimizing every phase of your funnel, you’ll convert droves of curious clients into loyal customers.
But when building a successful sales funnel, there are mistakes you should avoid and best practices you should follow.
Here, we’re going to tell you how to optimize your financial services business’s sales funnel for ongoing success and explain how ScoreApp will help you streamline the process. Let’s go.
Understanding what makes a successful sales funnel for financial service businesses
The financial services sector is a competitive space. Nurturing every stage of your sales funnel will guide your prospects through the buying process and result in plenty of high-quality conversions.
Here are the three key phases of the sales funnel:
- Awareness: This phase of the funnel is where curiosity thrives. This is when your prospects are conducting research and exploring their options, so generating interest here is essential.
- Consideration: Here, your prospects are weighing up their options. At this stage of the funnel, you need to build trust and address any potential pain points.
- Decision: At the decision stage, your prospects are looking to make a commitment. This is the time to seal the deal and convert your financial leads into paying clients.
There are no shortcuts to creating a high-converting sales funnel. For consistent success, you have to nurture every single stage.
Creating compelling lead magnets for every sales funnel stage is the best way to maintain engagement and build trust from start to finish. Here are a few ideas for your inspiration.
Awareness: attracting potential financial services clients
To drive awareness and attract potential clients to your financial services business, you can launch a lead generation quiz.
Presenting your prospects with a quiz will build a buzz around your brand and create an instant connection. You can also use the data you’ve collected through your quiz to understand your prospects on a deeper level.
Run with quiz concepts relevant to the financial services you offer. For example, if you’re an investment specialist, you could create a quiz titled ‘Are You Ready For Retirement?’ or ‘What’s Your Investing Style?’.
Consideration: nurturing and building trust
To build trust and nurture your leads during the consideration stage of the sales funnel, you must showcase your niche financial expertise and provide solutions to your leads’ main pain points.
Developing practical financial toolkits or how-to guides will help you nurture trust at the consideration stage. Reaching out to your leads with interactive forms or financial scorecards will also strengthen your relationships.
ScoreApp’s interactive Financial Freedom Scorecard, for instance, will drive extra engagement by providing your leads with valuable insight into their current financial situation.
Not only will interactive forms and scorecards showcase your brand’s value, but you can use your participant response data to drive conversions at the final stage of the sales funnel.
Decision: converting leads into clients
It’s decision (or conversion) time. During the final stage of the sales funnel, you need to build on the rapport you’ve created and reach out with personalized communications that inspire your prospects to take action.
Sending your leads timely email follow-ups based on their specific needs or interests combined with an incentive (a free consultation, an exclusive piece of content, or a discount code for example) will prompt them to invest in your services.
If you’ve nurtured your leads with a scorecard, you can send personalized content that recommends specific financial services based on their answers.
Did you know? With ScoreApp, you can send your leads automated follow-up sequences to schedule a call once they’ve completed a financial scorecard or quiz.
Best practices for financial services business sales funnels
Now you know how to approach each phase of the sales funnel, let’s look at some best practices to consider as a financial services business owner.
- Prioritize compliance: In a highly regulated sector, following industry regulations is vital. That said, you should avoid making any bold claims and ensure your content is 100% honest and compliant.
- Build trust: Nurturing leads as a financial services business owner is all about building trust. Aim to offer as much personal value as possible at every stage of the funnel while remaining completely transparent about your brand values and the services you offer.
- Keep evolving: To optimize your sales funnel for continual growth, you need to understand what works and what doesn’t. Regularly analyze your performance data to gauge what resonates most with your audience and the areas that need improvement.
Bonus tip: For insider advice on how to build trust at every stage of the sales funnel, check out our guide on the best lead generation methods for financial services companies.
How to leverage ScoreApp to enhance your sales funnel
Working with ScoreApp will help you optimize every stage of the sales funnel with ease. Repeat this process for each phase (awareness, consideration, and decision) to earn a consistent flow of high-quality conversions for your financial services business.
Step one: Create engaging, trust-building quizzes that collect valuable data
First of all, you can use ScoreApp’s interactive financial templates to create quizzes that grab your leads’ attention and compel them to take part.
You can choose a scorecard or quiz template that aligns with your lead generation goals and use ScoreApp’s accessible editing features to customize it. Here are some examples of the templates you can try:
Lead generation quizzes and scorecards will grab your prospects’ attention, and the promise of uncovering valuable information will inspire them to take part. Armed with your prospects’ responses, you can decide which leads to focus on.
Step two: Use personalized email sequences triggered by quiz results
Once you’ve enticed leads with an irresistible financial quiz, you can use ScoreApp to send out personalized marketing communications based on their responses.
These reports will offer your leads practical information and personal value, building trust in the process.
Step three: Monitor lead behavior and adjust strategies based on detailed analytics
You can use ScoreApp’s accessible in-built analytics to measure campaign engagement and monitor lead behavior.
With access to a mix of digestible data visualizations from a single dashboard, you can gain the insights for adjusting your sales funnel strategies for the best possible results.
Streamline your financial services business’s sales funnel today
Studies show that 68% of businesses haven’t yet identified, designed, or measured their sales funnel.
If you take measures to build a high-converting sales funnel that nurtures leads from start to finish, you’ll gain a considerable edge on the competition.
Focus on building trust and offering deep personal value at every stage of the funnel and you’ll land more quality clients for your financial services business.
Are you ready to create a sales funnel that accelerates your commercial growth? Try ScoreApp for TODAY.
