CASE STUDY | 30 days and 264 High-Net-Worth individuals

A step-by-step overview of how we got an audience qualified and ready for the sales process without even a single call or meeting.

As with any business, sales growth is key. When you know you can help customers, value isn't the problem. The problem is to reach people consistently and profitably.


We all know the hardest route to take: It's to simply start reaching out to people who you think would be a good fit. It's a lot of work, and often comes down to cold calling. So, why would anyone cold call? Because you have control, and it's predictable.


Do 100 successful calls, get 15 meetings, sell 5 products.


The easiest path to a sale is the polar opposite i.e. Some referral walks in and says: "Hi, please sell me this". It's friction-less and easy.


The problem is this: The cold approach is a lot of work for often very little reward (and it's super-demotivating). And the referral approach gives you very little control other than "do you know anyone?".


So the goals are simple:

  1. Have a predictable approach without wasting time on people who don't need your offer.
  2. Actively generate sales and create opportunity instead of waiting for it to happen.
  3. Don't annoy people

In essence, we're looking for a system you control with predictable results without wasting too much precious time. We have an online info session for which you can sign up that will go in depth, but this article give you a high level overview on how achieve this.

A quick introduction - What are we trying to accomplish here?

Let's start with the actual results over the course of 4 weeks.

An Overview: Results (The first 4 weeks)

Start Conditions

We start with a database of profiles that fit the typical criteria of a high-net-worth individual. In this case, there was a specific focus on gray-haired executives at medium to large businesses.

Total Database Size at start: 984 people

Week 1

First engagement. We start gathering information on each database user by monitoring interactions.

Total Database Size: 984 people

Qualifications

Wants to know how to invest during an economic downturn

24

# Qualifieds

1

Week 2

Week 3

At this point it's clear that the economic downturn was more interesting for this audience (which makes sense) More meetings are being booked.

Total Database Size: 2,564 people

Qualifications

Wants to know how to invest during an economic downturn

Testing multiple angles (security vs. performance) gives us more data to work with. At this point, the first meetings are booked.

Total Database Size: 1,913 people

Qualifications

Wants to know how to invest during an economic downturn

37

Wants to know about high-risk / reward investing

38

# Qualifieds

Meetings Booked

2

# Qualifieds

Meetings Booked

132

48

8

Wants to know about high-risk / reward investing

2

3

Week 4

Summary

The first few weeks end with 16 meetings booked and 73 people showing interest in a specific product type.


At this point, we know what to focus on and will start scaling. We also have our metrics of what to expect.


At this point we have our system and we know what people react to. Of course, different angles will have different reactions from different people.


Here's what's interesting: Even on the first call or during the first meeting, the salesperson already has an idea of what that person cares about. How this works and how to expand further are covered in the online info session.

Month 1 finished with multiple angles tested for this audience and multiple meetings booked.

Total Database Size: 4,337 people

Qualifications

Wants to know how to invest during an economic downturn

216

Wants to know about high-risk / reward investing

48

# Qualifieds

Meetings Booked

19

Is interested in a specific financial product type

73

4

A STEP-BY-STEP LOOK AT HOW TO GET THESE RESULTS

How?

Everything starts with the database. Before you build your database, you need to combine two pieces of data:

Step 1 - Database building

  1. Customer profiles from previous sales. Who closes and what characterizes them? Define an audience specific enough to target.
  2. Angles used in previous sales. Ask a sales person to assist you with this. How did they close previous customers and what were their reasons for converting? Are there customers that are harder to close than others?

Combine this information to come up with a search profile. This is a profile that you could use as to match against found profiles, but compiled according to the data that's available to you.


While we use premium assets ourselves, there are plenty of free or low-cost sources to get your data, like LinkedIn.

A database is useless if you don't anything with it. But, if you push that database too hard, it won't stay useful for a long time and the value will go down significantly.


So that's why the next step is outreach, but with an important distinction.


We will not be pushing product immediately.


In fact, all we're going to be doing is sending them things the right person would care about. Even more so, if possible we're going to provide them with up-front value as much as we can.


During this phase, we'll slowly guide people to consider the right problems and point them toward the right solutions.


This is the same thing a salesperson does before they start selling:

Ask questions to get the right angle and then start selling.

Step 2 - Reach Out

As people interact, that gives us tons of information to work with.


How?


Well, we have our proprietary methods of tracking because it's more complete, but just using analytics and some well-thought-out utm codes, you should be able to get close.


The whole point is to track and watch what people do.


Do they click a link?

Did they read/watch the entire thing?

Did they click to read more on something?

Did they fill out some form, or filled out a poll?


All these questions and many more tell you exactly what a person cares about and what not. How far they go tells you how engaged they are.


As they go through this, you learn what each person cares about so that when the time comes, you present the offer with an angle that's relevant for them.

Step 3 - Get Answers

As your audience goes through the different funnels, it's time to make a decision: Will you pursue them now with direct sales, or wait on them to take action?


The trade-off is simple: You can keep showing people different angles and wait for them to ask for a meeting themselves, or take action yourself and use the information as a way to push for the sale.


The more you ask of a lead, the lower the chances of them completing something are.


Roughly speaking, the flow goes like this:

Step 4 - Wait, or Take action

500

22

between 1 - 2

Asks for a meeting

Asks for more information

Qualified

750

85

between 1 - 3

Month 1

Month 2

Month 3

1,000

160

between 3 - 5

So the choice is simple: Do you only want to focus on those who ask for a meeting, or do you want to maximize your opportunity and try to convert those who are qualified right up front.

At this point, we have a system for generating leads consistently and one that gets better if you keep on tweaking the design.


Done right, this funnel gives you leads with various different levels of qualification. Depending on the type of leads and the offer you're serving, you can change when you take action and get results sooner, or just wait for leads to come through.

The end goal

  • 7,500 People, targeted according to your target profile
  • Complete funnel built out to automate lead generation
  • Mailing, Follow-up & tracking systems included

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