How Can Advisors Use Crowdsourced Data For Lead Generation?

Thursday, March 07, 2013 12:42
How Can Advisors Use Crowdsourced Data For Lead Generation?

Tags: marketing | prospecting | research | target marketing

Using data drawn from queries entered into Google, Microsoft and Yahoo search engines, scientists at Microsoft, Stanford and Columbia University have for the first time been able to detect evidence of unreported prescription drug side effects before they were found by the Food and Drug Administration’s warning system. That's the power of crowdsourcing. Now think about how you could use that power.

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"Using automated software tools to examine queries by six million Internet users taken from Web search logs in 2010, the researchers looked for searches relating to an antidepressant, paroxetine, and a cholesterol lowering drug, pravastatin," says The New York Times. "They were able to find evidence that the combination of the two drugs caused high blood sugar."

This is a great testament to the power of the Internet and crowdsourcing. 

Now please take a moment to think about how you could use that power. 

Could your advisory firm publish a financial index for your town? Or if you work with doctors, could you survey them and provide a valuable report with data about whether 2012 was a good year for doctors?

(If your answer is "yes," then you just got a lot of value from your $60 a year membership in A4A and, if you're not paying the $60 fee, then please upgrade your membership or register.)

Crowdsourcing is hugely powerful and advisors can use free or low cost tools to tap that power and add value to relationships. For instance, using SurveyMonkey to survey your clients about what is happening in your town financially can provide great content on the Web.

This kind of crowdsourced data allows an advisory firm to create a "special report" or white paper on your website. The only way that you would let people see that research is by giving you their contact information. They become a lead for you. It's a valuable idea for lead generation for advisors.

If you want help with this, post questions here and I'll give you my ideas.  


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