How To Effectively Use Email Marketing Lead Generation To Grow AUM

Email is an incredibly powerful tool and email marketing lead generation campaigns can be instrumental in helping you to grow your AUM. Unfortunately over the years, people have bought databases and spammed them which has made people believe that email marketing is no longer a viable way of growing your business. You couldn’t be further from the truth. It certainly is possible, as long as you have a high quality list that you provide value to on a regular basis. How do you do that? We’re going to show you the top ways in which advisers, and anyone else for that matter, can effectively use email marketing lead generation to grow AUM on a monthly basis.

What Is Email Marketing Lead Generation?

Before you get excited about exporting that LinkedIn connections list, email marketing lead generation is not just filling up an email client with names and emails. It’s the process of capturing particular data from potential clients in exchange for valuable information on your side. Email marketing is so much more than blasting out emails to people after purchasing a database. In fact that’s why we now have anti-spam and GDPR laws in place as it was getting so out of hand. 

Email marketing lead generation is the very start of the process. Often at the top of the funnel where you and your prospect first get to know each other. It’s an information gathering process that allows you to start building a list of potential candidates.

Why Is Email Marketing Important?

Your email list is still your greatest asset. Businesses put a lot of stock in followers, and they are right to do so, but followers aren’t the be all and end all. What would happen if the platform you use went offline tomorrow, or even worse, your account gets hacked and ransomed? All that hard work you have put into building that following is wasted and you have nothing to show for it. Here’s the real kicker about having lots of followers. The only way to actually contact them is through the platform itself. You don’t have direct access to them through their phone or email address. 

Believe it or not, email marketing is still the most profitable method of marketing. Email marketing lead generation ensures that you are able to consistently build your database and own the audience you are speaking to. Typically, for every $1 you spend on email marketing, you make around $44 back; that’s an ROI of 4400%!

The majority of business dealings are also still done by email. Some idiot predicted that email would be dead by 2020 due to the way Gen Z uses social media and technology, but the reality is that in order to get business done, you aren’t going to be using Instagram, Snapchat or TikTok to reach out to a business, or individual for regular business inquiries. Social media platforms are not suited to manage conversations in that way. 

So, in order to effectively use email marketing lead generation to grow your AUM, you’re going to need to learn how to fully harness your email and its capabilities.

Create Sequences And Automations

One of the best ways to use email marketing lead generation is through sequences and automation. We are yet to see any social media platform that is capable of sending automatic messages based on multiple factors of interaction, such as time, behaviour or interaction rate. There are plenty of email marketing platforms out there that will allow you to send a string of emails to people based on a wide variety of factors. 

You could set up a welcome sequence, which would introduce you and your business, as well as offer them further useful information. This could be sent out on a time delay over a period of weeks, meaning you stay active in their inbox and their minds. With the analytics your email client will give you, you will be able to see what content resonates the best with your audience. It may be a subject that is not often covered by advisors or a tricky topic to cover that you break down and explain really well, making it shareable for others with the same challenge. 

A truly advanced method of email marketing lead generation would be to send an email out to someone who has taken certain actions on your website. For example, they may have viewed your consultation page several times but not yet filled it out. This could trigger an email that asks them why they haven’t done it and potentially alleviate any fears they may have about doing so.

Create Irresistible Subject Lines

Remember when we said that people won’t use social media for business dealings (Gross overstatement we know, plenty of business gets done over social)? Well nothing will get done if your headlines suck. We’ve done a lot of work on advertising headlines in another article, but the same emphasis apples here.

Say you want to get prospects to sign up for your free financial health check. Sending them an email with the subject line, get a free financial health check isn’t really going to inspire them to open the email and click to book, unless of course, they really want one. What is you sent and email with the same objective of getting them to book a financial health check but the subject line was something like this; You’ll be bankrupt in 2 months if you make this very common mistake.

A small change that makes a huge difference to how people view your content, but it also positions what you are speaking about in a more accessible way. During the Covid pandemic, many people didn’t realise just how close to the wire they were living until their paycheck stopped. It was a wakeup call that meant they needed to take much better care of their finances. Speaking to prospects in a way that resonates with them is key to maximising email marketing lead generation.

Always Have A Strong Call To Action

So you’ve got a killer headline on an email that has been triggered by a prospect that has taken action on your website. The content is great and provides unrivalled value in your field of expertise. Now what? Well, you have to tell them to take the action you want. At the bottom of every email you’ll want to have a strong call to action that clearly directs them to the place you want them to go. Make it big and bold, with a definitive action word attached. If you want people to book a financial health check with you, use the phrase, Book Your Free Financial Health Check Now!

It may seem simple, but many advisers don’t have these on their emails and as a result are missing out on a big opportunity. 

Offer A Template For Asking For Referrals

One of our favourite email marketing lead generation tactics is to ask people for a referral. Possibly the most powerful marketing tool available to anyone is the power of social proof. People never want to refer a product or service that they don’t believe in to friends as if they truly don’t believe it will benefit them, it may end up affecting the relationship. However, if someone does refer it to a friend, that’s about as powerful as they come!

It can be tricky to ask people for referrals so a great thing to do is to offer people a template that they can send out to their friends themselves. Something as simple as, ‘I was speaking with my adviser the other day about [subject] he gave me this really great article about [help with subject] and I thought you might like to read it.’

Conclusion

Email marketing lead generation requires focus and concerted effort and can be a bit of a challenge, especially when you’re just getting started. It can be tempting to take the easy way out and buy data lists or hammer you LinkedIn network again, but long term focus on building an email list will help you to reap the benefits later on down the line. 

If you’d like to learn more about how we can help you to use email marketing lead generation to grow your AUM, click the button below and book a strategy session (worth $500) now.