4 easy steps to generate leads through compliant marketing

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Compliant Marketing and Lead Generation

Financial and insurance professional can be successful with compliant marketing

Compliance is the process by which legal professionals, financial professionals, and insurance professionals remain within the confines of the law and thereby prevent their brokers from lawsuit or other litigation. Compliant marketing is the process by which these professionals create dynamic marketing campaigns to grow their sales. Without careful consideration, insurance and financial professionals may find themselves trapped in a marketing black-hole where they are only able to capitalize on the advertising efforts of the brokerage or the firm and from their own word-of-mouth efforts.

 In this article, I’m going to cover a few tips on compliant marketing that will generate and nurture leads.

TIP 1: Don’t be fooled
A brokers primary interest is in leveraging an override from your efforts and expertise while not being sued. He is not so worried how much money you make and will therefore always say “no” to any marketing ideas that require any effort on his behalf.  Remember, there is only one of you that’s paying your bills but there are lots of “yous” paying the brokers bills. In other words the broker has leveraged the efforts of lots of different agents across the city, states and even the nation to generate income for the brokerage.

 So the broker is not necessarily interested in how well or poorly your lead generation efforts are advancing. When leads are slow they are just going to say, “Go to more networking groups, go to more coffee shops, make more cold calls, talk to more people.”

These methods are not only outdated, they are also terribly ineffective (and have been for some time). If you’re an agent looking to generate more leads and create a steady stream of new business, then you’ve got to balance compliancy with effective marketing. And it’s not very hard to do.  The key is in knowing what it means to be compliant in the first place and then taking action on a marketing plan. 

TIP 2: Create an online persona
If the issue of compliant marketing refers to the agent as a representative of the firm providing specific financial advice to a third party and under the umbrella of the organization, then your first strategy in generating leads while remaining compliant is to create an online persona unaffiliated with the firm. For example, if you’re a financial professional with Edward Jones, you would create an online persona perhaps called, ‘The Online Moneyman’ where you greet your audience with weekly video tips and blogs that explain basic financial terms, market trends, and economic updates while also directing the viewer to third party resources where they might be better informed (think about possibly sending them to your website).

In this situation you are under NO obligation legally, ethically or professionally to involve the firm in any way, shape or form. Which therefore alleviates them from any potential negatives and also liberates you to create an audience that is not dependent on the firm’s advertising resources.

Begin creating content for your compliant marketing campaignTIP 3: Create Content
Now that you’ve created your online persona, it’s time to create content that’s not brand specific to Edward Jones (or your firm) but will drive the audience to a purchasing decision.

This content should be niche specific and include links to authoritative resources beyond those of your own employer.  In other words, now that you’ve got a persona that is not burdened with compliancy issues because your persona is not writing deals and is therefore not subject to the firm, you’re now able to produce content that your audience would find valuable and also reinforces your brand message.

So if you’ve got a financial product that promotes long term growth through an index fund, you could create a series of videos or blogs explaining the terminology and the math behind an index fund and similarly educating your audience to the value therein.

You must remember though, to cite a variety of sites to demonstrate your knowledge so that you appear as authoritative and unbiased in the eyes of your audience. Otherwise if you’re going out there and you’re just pushing Edward Jones’ products and Edward Jones’ information, your online audience is going to see right through you. Instead, what you want to do is create content that’s authoritative in nature and you do that by citing a variety of sources while also proving yourself credibility through personal experience.

TIP 4: Promote your content
Finally, promote your content in a manner that is consistent with the best practices of content marketing. For example; you’ve created an online persona, you’ve created a schedule of content, and now it’s your job to promote that content through the appropriate channels: specifically email marketing and social media marketing.

NOTE: I know a lot of you reading this article are thinking; I can’t do that! I can’t have a Facebook page for my investment company- it’s not allowed. Well, go back to the 2nd tip. It’s not your Facebook page but a Facebook page for the online persona you’ve created whether it’s “The Online Moneyman” or “Investing with Jim.”

And once you’ve got these assets put together properly- that means a website that you’re personally paying for, a Facebook page for your persona, a Twitter page for your persona, a YouTube channel for your persona and/or an email marketing campaign designed to nurture leads that are generated through this marketing campaign- you are fully prepared to dominate your marketplace for lead generation!

Creating these assets in a campaign designed to nurture leads will put you miles ahead of your competitors and co-workers who are too complacent with compliance to take action. Let’s take a look at a scenario wherein all these assets and web properties are in place:

Let’s say that you’ve created a 45 minute webinar and a 16 part email marketing series using Getresponse or some other email marketing system. You go about your networking and coffee-talk groups and as you come across people who are interested in learning more, you’re now able to educate them through your pre-recorded webinar while your email autoresponder follows up with them once per week for almost 4 months!

 Additionally, you are able to connect with them on social media where they learn more from you and see that you’re not just an expert, you’re also a pretty cool person.

This is how professional marketers are converting their leads to sale and this is why professional businesses hire professional marketers. For consultation on compliant marketing for your firm or your individual business, contact Videospot today.

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