Why a Warm Marketing Plan Works Better For Financial Advisors Than Cold Calling

Crowd of small symbolic 3d figures, isolated

For financial advisors, warm is better than cold! Why? Because cold calling can be exhausting. Facing rejection time and time again is hard on the ego. Too many “no’s” can turn a positive advisor into at demoralized advisor and cause “zombie face,” a condition where you stare at your computer screen not knowing what to do.

When financial advisors contact me for help in developing a prospecting plan, I coach them to develop multiple tactics, one of which is creating a Warm Marketing Plan.

What is a Warm Market?

A “Warm Market” is people you know, which could be:

  • Prospective clients
  • People who have expressed interest in your services but have not yet hired you
  • Friends
  • Relatives
  • Existing customers
  • Centers of influence
  • People from your Chicken List
  • Referrals

What is a Cold Market?

A Cold Market is a person who does not know you from Adam. They have never heard of you before, never spoken to you previously, and never met you in person. Many advisors I speak with continue to use “cold calling” to gain access to new prospects, despite the fact that it is not as effective as it once was due to caller id and the do not call list.

Prospecting Success

With prospecting, you have a much greater chance of winning new business if you create a Warm Marketing Plan that sends your contacts a “touch” on a regular basis. If your Warm Marketing Plan is aimed at people who already know you, success will follow because…


If you market to a list of 10 warm people over a 90-day period, you stand a good chance of winning 3-4 new clients


But you must have a Warm Marketing Plan that touches your list with a different tip, method, or idea, which they would find helpful and meaningful. Some advisors find it’s best to use an automated service so that you don’t have to be involved in a lot of time-consuming tasks.

You have two choices for creating a Warm Marketing Plan:


1.Develop your own custom Warm Marketing Plan

I have done this for my coaching practice using Aweber.com, a service that allows you to develop a series of automated emails that are sent at a predetermined time after the prospect “opts in” to download one of my e-books. I have created all my own content since I have a huge library of my own articles.

Want examples? Sign up for my ebook here.

  • As an example, some of my topics are:
  • Are you using inbound marketing?
  • 3 Income Growth Strategies
  • 4 Typical Business Errors Advisors Make
  • 7 Powerful Success Strategies
  • 80% of Sales are Made on the 5th to 12th Contact


2.Use an automated service. I have several that I can recommend to my clients.

Many of my clients have used an automated service successfully to create digital marketing programs that are pre-approved by most compliance departments. When they meet a prospective client at a networking event, they ask permission to add them to their “newsletter list.” When they have a meeting with a prospect that does not immediately become a client, they add them to the list. Existing clients are also added to the list. The choice of email topics, touch points, holiday emails, interesting articles, and other topics, all lead to a repeated pattern of communication. This in turn, leads to new clients.


Warm Marketing Equals Success

The reason a Warm Marketing Plan is so successful is that it can take up to 5-12 contacts for a prospective client to be READY to do business with you. If you have never heard of this concept, please place this search term into a search engine like Google or Bing: “number of times a person must see an advertisement before they will act.”

I will paraphrase it here:

  • The first time a marketing message is sent, the receiver does not even see it
  • The second time, they vaguely notice it
  • The third time, they think “oh there’s that person’s message again”
  • The fourth time, they think “maybe I should read this message”
  • The fifth time, they DO read the message
  • The sixth time, they have a need for what you offer
  • The seventh time, they have experienced pain over not taking action
  • The eighth time, they take action and contact you!
  • Or it continues on until they have a need


Do yourself a favor and contact me for a consultation to figure out the right way to go about prospecting for new clients. Trying to do this on your own can be a futile process because you are not an expert in marketing. I have noticed over the years that advisors often need me to guide them into developing the correct message and process to be successful at prospecting. Is it time for you to contact me?

About Suzanne Muusers