Quiz Findings: How Estate Planning Professionals Get New Business

November 6, 2023

In this blog we explore what our friends in the estate planning space do to generate new business for their department. We’ve crafted 18 carefully thought-out questions that are designed to uncover common marketing strategies used within this industry.


We include the findings, our interpretation of the results and our tips in the following areas: 

  1. Marketing strategy 
  2. Building a database 
  3. Lead generation and marketing 
  4. Building a network 
  5. Convenience for the client 


1. Marketing Strategy: 



The survey found that 71% of respondents don’t have a documented marketing plan or a designated marketing budget. This suggests that where organisations don’t have a dedicated marketing department, marketing is carried out on an ad hoc basis, probably ‘off the side of desks.’


Additionally, only 50% of respondents reported that they know who they should be targeting and what their total addressable market is. 46% reported that they don’t have a communications strategy for current clients or prospective clients.


Tip: Spending a small amount of time creating a high-level marketing plan can really help strategic marketing efforts and resource planning. It’s important to spend some time understanding who the target clients are, where they ‘hang-out’ (online and offline) and how to reach them. As this can help make sure you are utilising the channels that will reach your ideal client. Talking to your current clients can provide great insight in these areas.


Having a communications strategy with clients and prospective clients can help keep them engaged with your brand, keeping you top of mind for any changing needs that may arise. Consider putting a content plan together of what you could send them that would provide value and build trust. Make sure to keep it relevant to their needs and personalise it as much as you can.


46% of respondents also mentioned that they don’t know how they will track the success of marketing activity they carry out. Asking clients where they heard about your business and putting digital tracking methods in place will help you better utilise any future marketing budget.


2. Lead Generation and Marketing: 


Despite not having a marketing plan or budget in place there is activity across various marketing channels,. Firms are currently using paid advertising on platforms like Facebook and Google, as well as traditional media like magazines and radio. This indicates a willingness to explore diverse marketing avenues, despite the absence of a set plan on how to track their performance effectively. This could lead to some firms continuously throwing money at the wall to see what sticks.

In the next twelve months respondents also plan on attending events, carrying out search engine optimisation and email marketing. 29% of respondents are also creating content in the form of articles, videos, podcasts, presentations, and media segments.


Far fewer are utilising more ‘press’ style channels, with 73% reporting that they do not put their business forward for industry specific awards or for media exposure.


Tip: Your tracking should heavily influence the marketing channels you use to reach your audience. AND knowing who you want to target by speaking with your client should heavily influence the content you create. If you don’t have a large marketing budget or dedicated marketing team, look at your competitors that do… and take inspiration from their activity.


3. Building a Database:


Concerning database building, only 14% of respondents are actively building and communicating with an email list. Given that email is a key channel for marketing teams, this represents a missed opportunity for many businesses. We assume this does not include the 15% of respondents who plan on utilising this channel in the next 12 months.



100% of respondents said that they provide a traditional and digital route for potential clients to contact and interact with them, but this does not include capturing their information. As 86% of respondents capture their client’s information by taking notes during a meeting with them, with 14% sending them a Word or PDF questionnaire to complete prior to a meeting. 71% of people reported that their lead gen activity does no collect more than a name, email address or phone number – with only 29% utilising digital data capture tools to gather comprehensive information. Clients can contact firms using digital methods but far fewer offer the ability to provide their information digitally.


Tip: Being able to personalise your marketing campaigns, especially your email list, can really help your conversions and make sure you assign the right advisor. The more information you have about your clients, the more you can personalise the messaging and services you provide for them. This could be demographic information like marital status and gender but could include more detailed information like their assets and liabilities. Building a comprehensive database for marketing purposes helps you make the most of marketing channels, as not everyone will be ready to buy today, so keeping in touch and top of mind is key.


4. Building a Network: 




71% of respondents feel they have a strong referral network yet only 23% have established partnerships or joint ventures with other brands. This suggests the majority of referrals are from existing clients or perhaps different departments within the same company. Despite referrals often providing the best quality leads, 86% of respondents are not actively pursuing collaborations with other brands. This suggests there’s an opportunity for firms to build out their network with firms that are in a similar industry but are not direct competitors.


Tip: Collaborations and partnerships can enhance visibility and credibility, leading to mutually beneficial outcomes for both clients and suppliers. Organisations can recommend services to clients that need them and recommend them to a trusted provider. This can sometimes produce commission, or it can also provide leads in return. Creating a network of organisations that work in similar spaces to you can be beneficial, especially if you provide them with useful content they can share with their clients on a semi-regular basis.


5. Providing Convenience for the Client:



As mentioned earlier, 100% of people who answered Arken’s quiz offer traditional and digital ways to contact them, but only 29% offer digital ways for clients to provide their information.


A further 29% of respondents, perhaps the same group, reported that they provide the ability for their clients to complete their Will online. Meaning some firms are digitally transforming their client interactions from first contact, to data capture, to document delivery. Creating a modern and convenient way for clients to engage and interact with them.


Tip: In today’s digital age, people want convenient ways to interact with their service providers. Utilising digital data capture tools and the ability to complete simple Wills online offers more convenience for your client and reduces the risks associated with taking handwritten notes and manual data entry. It will also appeal to your Generation X and Millennial clients, who expect digital service delivery.


How to Ramp up Your Marketing


In summary, the quiz highlights areas of opportunity in developing a cohesive marketing plan, based on measured successes and failures – improving database building techniques, enhancing lead generation efforts, and expanding collaborative networks. Additionally, businesses should focus on producing valuable content that supports their marketing efforts and actively seeking industry recognition to establish authority and credibility in their respective fields. Whilst also delivering convenient services to clients that offer multiple digital and traditional touchpoints.


To find out where your marketing could be improved and to get more tips, complete the quiz.


Arken Legal Can Help


Arken Legal offers a selection of software solutions that can help you generate new leads and enhance your marketing efforts:


Online Wills Software – This tool enables your clients to complete simple Wills online, either hands free or with service levels selected by you.


Intestacy Lead Generator – This product helps you reach a wider audience online. It’s a digital quiz that produces a personalised report for your clients that explains what will happen should they die without a Will in place.


Digital Fact Find Software – This product reduces admin for you and your client by digitally capturing vital information in advance of the interview. It also pushes data straight into your Will drafting software, streamlining the data capture process completely.


These tools can be used in email campaigns, through social media channels, in advertising campaigns, on your website and more.


Book a demonstration or reach out to us today for more information.