Alpha Omega Wealth, a financial advisement firm focusing on private wealth management strategies, had been successfully doing business for about 30 years. The business grew the old fashioned way - with the owner building personal relationships and receiving referrals from existing customers. He had no formal marketing or advertising strategy and virtually no online presence. He was just getting to know potential customers in the time-honored tradition of shaking their hands and educating them on what he did. When he recognized the need to build out the agency to help his younger agents grow, he reached out to Yokel Local for lead generation assistance.
This business was solely built on the back of the owner’s reputation, and he knew that when he stepped away, growth may stall. So, he wanted our help in generating new leads for his younger agents. The firm’s initial sales goal was to write $15,000,000 in new sales premiums in 2020 (or 150 sales). He also wanted to conduct 12 seminars with 20 people in attendance that would lead to about 100 sales.
Since his firm was new to online marketing, was return on investment (ROI) driven, and did not offer life insurance quotes online, we initially chose to steer clear of Google Ads and instead focus our efforts on Facebook Ads.
Our strategy was simple. We refer to it as C.O.R.E.: Create an item of value, Offer it to cold prospects who look like your ideal customers, Retarget those who don't take the offer, and Engage to convert those who do take the offer.
The Facebook Ads strategy started with brand awareness videos to warm up a cold audience. We then invited those warm video viewers to take the free offer of an ebook. After the ebook offer conversion, there was a follow up, multi-step email campaign to nurture the lead into a deeper relationship resulting in a sales consultation. An important note we made to the client is that while some people hear the word Facebook and instantly think of friends and followers, we don’t count fans as a meaningful goal and never run campaigns solely to gain fans.
This short campaign was a rousing success. In the first month, we generated 143 new leads on 457 clicks from our advertising, which is a phenomenal 31% conversion rate. During a two-month Facebook Ads campaign, we generated more than 233 new leads for the firm. The cost per lead was 0.5% of the average sale (or $18.24). Another campaign we created for the firm generated more than 90 leads for a local seminar they were organizing.
Our lead generation strategy worked. We provided great results for a brand that had done little to nothing online, with an owner who was skeptical regarding if online marketing could work well for his industry. We proved it’s possible to generate leads for companies with no previous online presence.