Financial Services is one of the most significant sectors in the global economy. It amounts to 7.5% in commercial services. The world is changing and becoming more digitally-transformed. To thrive in today’s digitally transformed world and generate leads for the Finance Industry, organizations face a huge challenge.
The traditional methods used by Financial Services Firms to the market were a hit in the past. Many technological advancements are taking place and hence, traditional methods are becoming unnecessary. They fail to bring in more qualified leads, you can update those traditional methods for lead generation.
See More: Reach Out to your Target Audience
Let’s see how the traditional methods to generate leads for the finance industry have proven to be redundant.
Traditional Methods to Generate Leads
1. Client Referrals: Firstly, the clients in a Financial Service business have a long cycle of procedures. It means the client remains a client for a very long period. As a result, a business can only expect client referrals after a very long time.
Secondly, clients will only refer business to others when they feel like. The company lands in a position where they do not know if the client is going to refer the business or not. LinkedIn provides an alternative to this problem. Former clients can endorse your skills. This proves to be a valuable addition as these skills are present for all to see. The more views you get, the more people can become your prospective clients.
Thirdly, clients might eventually forget about the services they received from you. Whereas on LinkedIn, the skills are present forever to see.
2. Speaking and Networking Events: Speaking and networking at events can be an effective way to acquire clients. However, we don’t necessarily be engaging with our target audience. Over 10,000 people from the Financial Service sector are using LinkedIn. It becomes easy to connect with the target audience over LinkedIn directly. The process is simplified and uses less time. Using LinkedIn gives the business a broader reach as well. We can connect with people from other cities, states, and even countries.
3. Mass Media: Using mass media channels such as Television and Radio does work, but it only works when the business has a broader product appeal. Marketing using LinkedIn will help a company find the right audience every time. LinkedIn is more cost-effective than Mass Media. Running advertisements on Television and Radio takes more monetary investments.
LinkedIn: An Effective Way
Online Marketing has a wide scope and benefits for Financial Services businesses. LinkedIn, in particular, can prove to be beneficial in lead generation for the Financial Industry.
- A Social Network for B2B Businesses: LinkedIn is useful for business networking and especially B2B Marketing. LinkedIn proves immensely beneficial in B2B lead generation.
- More organic reach: We can connect to many people and post content for them. The content organically reaches all our networks without paying anything. This adds to the cost-effectiveness benefit of online marketing.
- Connect to the decision-makers of companies: We can connect directly to the decision-makers of the companies. Direct contact with them proves to be beneficial.
- It’s a highly measurable way: One can measure and see the new leads that are generated. Based on this information, one can see what is working and what is not.
- It’s in sync with the latest trend: More and more customers are doing extensive research online. Publishing content on your LinkedIn account can make you come across as an expert. This will make them choose you over others in the same field.
- It gives you an edge over other companies: Having an online presence will translate into more leads. Your business found on more channels. This will create more leads in turn.
LinkedIn connects the world’s professionals and makes them more productive & successful. In addition to this, LinkedIn allows Financial Services marketer to start the selling process as soon as possible.
If you are also looking to generate more leads for your Financial Service business, fill-up the form below to get a free consultation.
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