Our unique preview tool allows you to review key enquiry details before you accept or reject it.
On the face of it, it sounds simple. See the client’s wealth, advice needed, preferred advice method, then make a decision based on whether they’re right for you.
But our data shows there’s more to it than that. In our article on making the most of your enquiries, we saw that advisers who accept more enquiries also have a proportionally higher conversion rate, and make more revenue from each client.
A mindset that’s not too discerning pays dividends - so what exactly is this way of looking at enquiries?
Reading Key Details
View keywords as a way to point consumers in the right direction, rather than a set in stone decision. Your clients need your help as they don’t know exactly what they need, so treat this as a kicking-off point.
They may say they want a pension drawdown, but read this in terms of their end goal – making the best decision for their retirement.
Maybe the client wants accounting advice, and is only looking for once-a-year bookkeeping. But drill down into what the end goal is and you’ll see they actually want to grow their business.
They might not know that you can do this. But once you’ve sold them the bigger picture, your services will suddenly require more than one action a year.
Also, ‘advice method’ may not be fixed. Your client may only want face-to-face advice. But once you’ve shown how your services can help them on a more frequent basis, they could see the value of receiving advice remotely.
Beyond Initial Revenue
Clients can also offer a greater long-term benefit to your business than just initial revenue.
We’ve seen enquiries that offer only a small amount to invest, or want a mortgage despite their poor credit score. But as they’re aware they’re not an ideal case, they show greater gratitude towards advisers who help them.
They know they’re not being flooded with advisers offering to help, so your fees become a lot easier to accept.
And they can provide you with glowing testimonials and word-of-mouth referrals, which work wonders for growing your brand.
Suddenly a limited initial revenue becomes much larger down the line - getting your business into a position where the best enquiries come to you, rather than you having to search for them.