10 Tips For Improving Your Financial Services Sales Funnel
The financial services sector has an annual growth rate of around 2.61%. It’s an influential industry in constant demand, which presents plenty of opportunities to financial services providers looking to expand their client base.
But, with growth comes competition. If you’re a financial services provider looking to stand out from the crowd, improving your sales funnel is the best place to start.
Yes, enhancing each stage of your sales funnel will ensure you offer value and build trust during every interaction you have with a potential prospect. The result? More high-quality conversions.
Here, we’ll explore 10 effective ways to improve your financial services sales funnel. We’ll also explain how ScoreApp will help you streamline the process.
Reviewing your financial services sales funnel
Before you start making improvements, you should review your sales funnel to uncover any weaknesses that are causing your leads to drop off.
Dive into your data to pinpoint exactly where your leads are going cold and disengaging with your content or communications.
Once you know which areas of your funnel need an overhaul, you can take actions to fix the issue – which brings us to our next subject.
10 ways to enhance your financial services sales funnel
Once you’ve reviewed your sales funnel, you can use these methods to inspire interest, drive engagement, and convert more financial leads into paying clients.
1. Don’t forget social proof
Client testimonials, reviews, and social proof are powerful tools for generating leads as a financial services business.
Adding certifications, reviews, and trust badges to your site will build trust and showcase your credentials. Offering free guides and access to webinars will also spark engagement during each stage of the sales funnel.
2. Personalize your client journey
62% of business leaders state that their personalization efforts have led to better customer retention rates.
Analyzing your most valuable customer data will provide the insights for reaching out to leads with personalized marketing content that offers direct value.
Tip: You can use ScoreApp’s customizable quiz templates to offer your prospects personalized financial assessments, gathering additional data and encouraging engagement in the process.
3. Create lead magnets that solve specific problems
Creating lead magnets that solve your prospects’ key financial pain points will drive positive engagement and highlight your expertise. Financial lead magnets come in many forms, for example:
- Free retirement calculators
- Downloadable tax-saving guide
- Business finances webinar invite with a supporting downloadable guide
- Interactive retirement-ready scorecard
4. Optimize your website for lead generation
Poor-performing websites and web pages can cause leads to drop off at any point during the sales funnel. To avoid this happening, you should optimize your website for lead generation success. Here’s how:
- Make sure your website is easy to navigate and fast-loading
- Optimize your website for all devices, including mobile
- Use clear call to actions (CTAs) at key points on your web pages
- Use ScoreApp to add lead generation forms complete with automated follow-ups to your site
5. Use email campaigns for lead nurturing
Personalized email marketing campaigns are one of the most powerful ways to nurture leads and showcase your value as a financial services provider.
By crafting educational emails based on your prospects’ needs or pain points, you’ll guide them through the sales funnel seamlessly.
For conversion-worthy outcomes, you should segment your target audience according to their needs to make your communications relevant and personal. For instance, you could have separate email sequences for people who want to reduce their dates and for those looking to learn about investing.
You can integrate ScoreApp with your email marketing software to send automated email sequences to your leads once they’ve registered for your webinar or completed your quiz.
6. Implement automated follow-ups
Sending your prospects automated follow-up communications when they’ve interacted with you (taken a quiz, registered for an event, or signed up to your email newsletter) will pique their interest at every stage of the sales funnel.
Here are some examples of automated follow-ups that will maintain engagement throughout the sales funnel:
- Event reminders
- Appointment confirmations
- Personalized email content based on your prospects’ previous behaviours or interactions
FYI: You can use ScoreApp’s follow-up features to send tailored messages based on their quiz results.
7. Host interactive webinars and events
Webinars are powerful lead generation tools because you can demonstrate your value and connect with your prospects in real time.
By choosing topics related to your leads’ financial needs, you can educate, inspire, and strike an instant rapport with your webinars.
For instance, topics such as financial planning or effective tax strategies are likely to generate interest. During the webinar, you can host interactive Q&A sessions to get to know your leads on a deeper level.
8. Simplify the onboarding process
To ensure your financial services sales funnel is frictionless and to avoid your prospects dropping off, you should make your onboarding process as simple as possible. Here’s how:
- Send your leads a step-by-step onboarding guide after your initial contact.
- Offer a call or consultation within 24 to 48 hours of your lead registering interest in your business.
- Create a user-friendly portal where people can access your financial tools, guides, and content.
9. Prioritize compliance and transparency
As a highly regulated industry, being transparent and remaining compliant are two of the most important things to consider as a financial services provider.
Ensuring your content marketing materials meet financial industry regulations is essential to building client trust.
You should also be 100% transparent about your fees, services, and how you use client data. This will protect your brand reputation and attract more clients to your business.
10. Keep testing. Keep evolving.
As a financial services business, data is your friend. To keep evolving and optimizing your sales funnel for success, you should analyze your performance data frequently.
Tracking relevant key performance indicators (KPIs) such as engagement levels and lead conversion rates will help you benchmark your efforts.
A/B testing will give you the insight for optimizing your email subject lines, landing pages, and CTAs for better conversion rates.
You can also use ScoreApp’s in-built analytics to discover which areas of your sales funnel need adjustment and action.
Streamline your sales funnel with ScoreApp
Reviewing and improving key areas of your financial services sales funnel will drive engagement, build consumer trust, and earn more conversions.
Your sales funnel is a journey your prospects should be able to navigate their way through without friction. Try the methods we’ve discussed to enhance how you nurture your leads and use ScoreApp to create interest at every phase of the funnel.
Want to know more about using ScoreApp to generate quality leads? Check out our quiz and assessment use case guide.
