Cold Calling Strategies That Could Help Financial Advisors


Cold calling is a viable marketing tool used by many companies to generate sales. Most of the entities consider it dead, but still, it can do wonders if done right. There is no other good way to forge strong connections with prospects than cold calling. Narrowing the term down to the financial industry, it is equally effective. The condition here is one must do it the right way. This article has covered some of the effective strategies which can help financial advisors help their cause. Scroll down to learn.

Effective cold calling strategies for financial advisors:

The only risk in cold calling is not doing the way it should be done. You will end up losing potential leads who could have been potential buyers if dealt with correctly. This piece is an attempt to teach you the right ways to catch more clients. Let’s dive into them.

1. Invest in your prospect:

Despite the process being “cold,” you still need to be warm enough to give leads some room to settle. The first step where you can half win the game is doing thorough research about the prospects you are about to call. Naturally, the client will pay attention once aware of the investment you have made in collecting their data.

Data collection is easier, thanks to social media platforms. The key to a better conversation is the collection of personalized data. The more personalized the data, the better the conversation with the prospect. Are you wondering about where to collect the data? Scroll down to see:

  • Facebook
  • LinkedIn
  • Twitter
  • Instagram
  • Yelp (in case of B2B calling)

These are the reliable sources where you can research to know what your leads’ preferences and interests are. Do you want to excel at this first stage? Well, you can do better. All you need to do is hire experienced cold calling companies and let them do the outreach.

2. Acclimate your offerings:

Keep your client engaged by euphemizing things. Whatever you are offering, sugar coat it. Since you will have a clear idea of what your prospect requires and what issues they are facing, you can cater to their needs. Your value proposition will be a defining stage of whether the call will continue or not.

The best way to put things correctly is by starting with a niche success story and move on to the prospect’s problem. Don’t use more than two sentences because the listener might feel bored.

3. Call with a mission:

What would you sell if the client said yes? Do you have a set goal in your mind? Well, you can make a difference here. Drag your prospect to the sweet zone and then pitch your sale point. The only takeaway here is that “don’t sell things on the first call.” Doing so will sound too selfish, and you will end up losing the client’s interest. Have a clear goad in your mind before you dive.

4. First call? Spell instead of sell:

Financial advisors often waste their cold-calling efforts by trying to sell on the first call. It would be best if you went with a calm mind. Trying to close the deal in the very first conversation will scare away the lead. The good way to go is to define your company and the benefits you offer. Spell everything in detail and give the prospect some time to think. Doing so will boost their confidence, increasing their winning chances.

5. Stay focused with a script:

You don’t want to sound like a robot during the call, do you? Structurize your conversation with a script as a guideline. Prospects need your full attention, and a little deviation can do the damage. Stay on track, take your lead with you and make things happen in a way that you wished for.

Most financial advisors struggle with preparing a good script since they often miss out on important points. To have an all-inclusive and winning script, outsource the services of cold calling. Their strategies and tactics will ensure a win-win game for your financial service company.

6. Focus on your pipeline:

It is better to have a few qualified leads in the pipeline than many unqualified. Most financial advisors tend to add new leads to their channel but are unqualified. On the other hand, good players play a different game. They keep their portfolio updated by kicking out unqualified prospects. Doing so save them time and effort, resulting in better lead hunting.

Do wonders by joining hands with expert cold callers!

Some companies are good at strategies while some at technology. Both are crucial for business success in the current business landscape. Do you want to access both? Good! Outsource the services of professional cold callers and see your business breaking new grounds.