Planning & Beyond®

34. The Psychology Behind Lead Generation & Conversion with Derek Notman

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Most financial advisors are solving the wrong problem. They're obsessing overlead generation when the real issue is lead conversion - and the psychology behind why prospects don't convert reveals everything about building genuine client relationships.

Derek Notman, founder and CEO of Couplr, brings a unique perspective shaped by his early work at a residential treatment center with at-risk youth and his experience as a successful advisor who survived the brutal early years when nine out of ten advisors fail. He discovered that the same psychological principles that helped him build trust with teenagers who had been failed by every adult in their lives also hold the key to authentic lead conversion.

The conversation reveals why traditional cold outreach methods don't just fail but they actively work against the psychological foundations of trust that financial relationships require. Derek explains how people are neurologically wired to connect with others who share commonalities, and why advisors who understand this can transform their conversion rates without changing their marketing budget.

You'll discover the fundamental difference between lead generation and lead conversion, why most firms excel at the first but fail at the second, and practical strategies for creating the kind of authentic connection that makes prospects want to work with you. Derek also shares his "stop being a creeper, become a creator" philosophy and explains how advisors can use social media and content creation to build trust before they ever have a sales conversation.


Key Takeaways:

  1. Focus on Lead Conversion, Not Lead Generation: Most advisors and firms actually do lead generation well - they create content, have good websites, and generate traffic. The breakdown happens in conversion. Instead of obsessing over more leads, audit your conversion process. What happens after someone shows interest? Does your follow-up process build trust or feel salesy?
  2. Leverage Commonalities for Instant Connection: People are neurologically wired to connect with others like them. Before your next prospect meeting, research shared interests, backgrounds, or experiences. Having even small commonalities creates the "I feel like I know you" effect that accelerates trust-building and shortens sales cycles.
  3. Give Prospects Control of the Process: Traditional advisor outreach puts all the power in the advisor's hands - you reach out, you follow up, you push for meetings. Flip this dynamic. Create ways for qualified prospects to reach out to you when they're ready. This shows high intent and creates warm inbound leads instead of defensive prospects.
  4. Stop Creeping, Start Creating: Instead of scrolling social media to find prospects to message, use that same time to create content that showcases who you are as a person. Share your interests, values, and personality. Let prospects get to know you before they ever contact you, so your first conversation feels familiar rather than foreign.


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