Pull marketing is the science of attracting leads and sales rather than applying more work-heavy traditional push marketing approaches. In an increasingly tough financial services marketplace, pull marketing is overtaking push marketing as the most effective way to drive new client business. This important change has taken place for several important reasons.
Client buying behaviour has changed forever
The Internet and social media revolution means that a client’s buying behaviour has changed forever, and Internet search has changed significantly in a very short space of time. Continuous upgrades to the search engines mean that search is now faster, more relevant and more targeted than ever before.
The rise of social media
The growth of social media follows closely behind the exponential development of the Web. Social media is emerging as the leading channel for lead generation, but it doesn’t stop there: social networking services are anticipated to replace email as the primary vehicle for interpersonal communications for 20% of business users.
What’s the value of creating a pull marketing strategy?
Pull marketing can deliver significantly better results than traditional push marketing. With clients’ buying behaviour changing in response to the growth of the Web and social media, pull marketing makes it easier and more cost-effective to drive leads and sales. But it needs to be done effectively. This means using appropriate and effective resources designed around pull marketing. It also involves following a clear and well-structured funnel that follows each stage from Capture to Nurture to Improve. Done effectively, and with the appropriate tools, pull marketing allows you to reach both your active and your passive market, thereby increasing your overall range of leads and clients. The secret to making pull marketing a success is to use appropriate and targeted resources, technology and approaches.
Three steps to attracting more clients
Attracting clients is the lifeblood of every financial services business. Yet drawing in new leads and converting them into sales can be a time-consuming and costly process. Apply the following steps to your business to attract more clients with less effort:
1. Track your market
A crucial aspect of boosting business is tracking your market. This means listening to what your potential clients are saying and understanding what interests them. In doing this, you gain a clearer and more strategic picture of how to focus your marketing to attract potential business.
2. Create a pipeline
Without a clear marketing pipeline, you could lose out. Develop a strong and sustainable funnel that focuses on winning, then nurturing, then converting. Ensure that every lead you attract is fitted into this pipeline.
3. Keep improving
Too many financial service providers focus on trying to win the attention of their prospects without checking how well their marketing is working. By doing this, they fail to benefit from client response and interest. Closely monitor the response you gain from each marketing activity using targeted tools. Then keep on updating and improving your marketing to increase what’s working and adapt what’s not.
Oliver Taylor, Head of Sales & Marketing, Goldmine Media
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