Sometimes, advisors who are considering a subscription to Covisum software have questions about how to use our tools and resources to market their financial planning business. Our tools can make a big impact for financial advisors — especially those serving mass-affluent retirees and those in retirement transition. Financial advisors and institutions rely on Covisum’s software, resources and successful marketing tactics to streamline their practices, offer actionable insights and guide clients to make the best financial decisions. 

This week, an advisor evaluating our software asked Katie Godbout, Covisum's Director of Sales and Marketing, a question about lead generation and inspired her to write this post. 

How do I dramatically increase my prospective clients using your software? 

First off, a license to our software will not, in and of itself, dramatically increase the number of prospects you have. However, the software will help you deliver on promises you make when you market your services. If you are telling clients and prospects that you can help them keep more money in their retirement plan, our tools can absolutely help you find opportunities to deliver. 

Beyond that, in order to generate leads, you'll need to do some work. I have a method that has helped me secure the right prospects for numerous businesses in many different industries.

Four steps to get you started with lead gen

  1. Identify your overall business goal. It all starts with strategy every time. There's no way around it. The first step is always to clearly define your goal. I believe that you must state what your expected outcome is in order to achieve it. I've created a strategic plan template for you to help you with this.

  2. You must identify who your ideal client is as part of your lead gen strategy. The Financial Planner's Guide to Client Persona Development is a great resource to help you get started. 

  3. Communicate with your audience, where they are, with messages that are specific and relevant to them. It is critical to create messages that are specific and relevant to your audience. It is important not to get sucked in the trap of trying to be all things to all people. It is exhausting  you'll run out of energy and resources before you find the success you are looking for. But if you take the time to truly get to know what your target audience wants and needs from a financial advisor, you will be able to clearly communicate how you can satisfy those wants and needs.

  4. Include a call to action that collects their contact information. And finally, simply telling people what you do and how you can help them, isn't enough to generate a quality lead. You need to capture their information; let them raise their hand and tell you they are interested in you. This is typically done on a conversion form. Direct your leads to provide their name, email address and phone number in exchange for something that is valuable to them. Perhaps, you'll provide them with free information on how much of their Social Security benefit is taxable or some other relevant information for your audience. 

Delivering on your marketing promises

All of the resources I've mentioned so far are free and available to you with or without subscribing to our software. But when you purchase a license for Social Security Timing®, Tax Clarity®, and/or SmartRisk™, you also receive licensed use of our proprietary marketing materials:

  • Tool-specific client-facing seminar presentations (Social Security, taxes, risk management)
  • Tool-specific editable client brochures
  • Marketing plan template
  • Direct mail example
  • CPA introduction letter template (only with Tax Clarity)
  • White paper authored by Joe Elsasser, CFP®, Founder and President of Covisum, that you can add your own disclosure to (only with Tax Clarity).

These materials help you communicate the value of a relationship with a financial planner who uses our software. In addition, the two resources available only with Tax Clarity can help you start a referral relationship between your practice and a tax planning practice.

These resources, in conjunction with the software, can help you attract and retain prospective clients. You can find additional marketing resources specific to financial planners here. 

Do you have questions for Katie? Submit them here, and yours could be featured in an upcoming blog post. 

Ask our director of marketing