Did you know that 80% of new leads never convert into buying customers? If your financial firm has leads that aren’t converting, they’ll be gobbling up your marketing budget. This is why sales conversion should be your top priority.

Any marketer will tell you that creating a sense of urgency is one of the best ways of converting sales. If your potential clients believe they have all the time in the world to buy your services, they are less likely to take action.

However, creating urgency isn’t always easy. But with a few simple strategies, you can increase the sense of urgency and boost your sales conversion rate. Keep reading to learn how. 

What Is Urgency in Sales?

Urgency is the sense of importance or immediacy you need to create to prompt your leads to take action. Creating urgency is about making your potential clients feel like they must take action now. In other words, the urgency motivates people to convert into paying customers.

The Best Tactics to Create Urgency and Increase Sales

You can use various tactics to reduce buyers’ hesitation and have more sales follow through. Some of the fail-proof ways you should try include:

Offer Something That Interests People

If you’re selling a product or service that nobody wants, it doesn’t matter how urgent you make it seem. Creating urgency will only work if you have something that your target audience is actively looking for.

So, the first step is to ensure you have a product or service that meets a real need. If you’re unsure, ask your current clients why they chose your financial firm. What was it about your offer that made them convert?

Focus on your unique selling proposition (USP) to increase the sense of urgency. What makes your financial firm different from the others? Answering this question will help you create an offer that people can’t resist.

Use Scarcity Tactics

People are much more likely to take action when something is in limited supply. Whatever you’re selling becomes more valuable when it’s scarce. This is because people feel like they need to act fast before it’s too late.

When selling your financial services and products, you should focus on converting sales by creating an illusion that a product will run out soon. For example, if you’re selling a financial planning service, you might say that your offer is only available for a limited time. Or, you might say the price will go up after a certain date.

Using automated marketing, you can set up your campaigns to send follow-up emails to people who haven’t responded to your initial offer. For example, you can send an email that says, “Only two spots left!”  

Highlight the Consequences of Inaction

You’re likely to increase sales if you remind people of the impact of failing to buy your products or services. You need to make your potential clients feel like they will miss out if they don’t take action now.

For example, if you’re selling a retirement planning service, you might say that people who don’t act now will have to work longer than they want. Or, you might highlight that people who don’t take action will miss out on the chance to retire comfortably.

The key is ensuring that your consequences are relevant to your target audience. The impacts should be things that your potential clients care about.

Use Social Proof

Social proof is when people are more likely to take action because they see that others have already taken it. It’s a way of increasing the sense of urgency by making people feel like they must act before it’s too late.

There are various ways you can use social proof in your marketing. For example, you can highlight the number of people who have already signed up for your service. Or, you can feature testimonials from happy clients.

A good practice is to allow customers to see their fellow buyers and follow their lead. This strategy will create urgency by making it seem like your offer is in high demand and people are taking action.

Use Words That Emphasize Urgency

You are likely to convert more sales if your ads and calls to action contain words that emphasize urgency. A good practice is to target time-related phrases and words. For example, words like “now,” “today,” and “immediately” can increase the sense of urgency.

You should also focus on using action-oriented words. Instead of saying “download our free report,” you might say “download our free report now.” Ensure your website design makes it easy for visitors to spot your call to action and take action.

You can also use power words to increase the sense of urgency. These words have a strong emotional impact and can increase the chances of converting sales by making people feel like they need to act now. Some examples of power words include last chance, don’t miss out, and before it’s gone.

Offer a Limited-Time Discount

People are more likely to convert if they feel they’re getting a good deal. One way to do this is to offer a limited-time discount.

For example, you might offer a 10% discount for people who sign up for your service within the next week. Or, you might offer a free consultation for people who contact you within the next 24 hours.

Ensure that your discount is significant enough to get people’s attention. You also need to ensure that it’s relevant to your target audience.

Use the Right Tactics to Create Urgency and Boost Sales Conversion

Creating urgency can be an effective way to boost sales conversion. However, it’s important to use it in a genuine and authentic way. If you create a sense of urgency without giving people a good reason to act, you’re likely to turn off potential clients.

If you’re struggling to convert sales for your professional financial services, Elite AMG can help you. We will design a compelling market strategy to increase your brand awareness, get more leads, and convert them.

Schedule a consultation today to take your business to the next level.