Madrona Financial Services Grows Sales by 20% With the Help of Act-On Partner, Lone Beacon

Industry: Wealth Management
Highlights:
  • Successfully grew annual sales by 20% after the second year of implementation
  • Able to save 24% in direct mailing cost by moving a variety of efforts online
  • Achieved an average open rate of 30% and click-through rate of 15%

The Challenge

Madrona Financial Services is a full-service financial advisory established in 1999 in Seattle, Washington. Despite having many years of experience offering wealth management services and support, the firm was struggling to stand out in a crowded space and attract and engage their target audience. 

Madrona Financial Services reached out to Lone Beacon — a full-service sales and marketing firm focused on financial advisories — for help refining their digital marketing strategy. 

John Capuano and Greg Dinetz founded Lone Beacon to empower financial advisories to generate more leads and close more business. The Lone Beacon team possesses a vast knowledge of the financial services industry and the target audience, enabling them to offer more comprehensive services and support to their clients than standard marketing agencies. 

When Lone Beacon started working with Madrona over four years ago, they were on a mission to help the firm refresh their brand and refine their digital marketing efforts to attract new prospects, engage and nurture leads, and close more business. While Lone Beacon had a clear set of goals in mind, they also needed the right tools that would enable them to launch the robust and effective digital marketing strategy they envisioned for Madrona. 

The Solution

Lone Beacon helped Madrona Financial Services relaunch their brand, redesign their website and, most importantly, develop an email marketing strategy to help owner Brian Evans promote his radio show to the right audience. They designed a digital marketing strategy to help Madrona capture leads with meaningful content and execute digital marketing efforts to bring these new contacts back to their website for further engagement and nurturing. 

When Lone Beacon first started working with Madrona Financial Services, they used Constant Contact to launch the new digital marketing strategy they had designed but found that the email-only platform didn’t offer the basic functionality they needed to do what they wanted to do. They briefly migrated to Infusionsoft, but this platform was too difficult to use, creating a huge blocker preventing them from launching effective and efficient campaigns. 

Frustrated, they began to explore Hubspot and were in contract negotiations. One day, by pure chance, John saw a billboard for Act-On as he was leaving the airport. He and his team decided to explore Act-On as a potential partner and were impressed with the platform’s ease-of-use, strong capabilities, and competitive pricing. 

“With Constant Contact, we didn’t have lead scoring, so we would look at the people who were most active to help Madrona Financial Services identify where their customers were in the sales funnel. Act-On has taken this work to the next level by allowing us to share an activity and engagement timeline with Madrona that empowers them to determine which leads are genuinely interested.”

John Capuano, Co-Founder of Lone Beacon

JOHN CAPUANO
Co-Founder of Lone Beacon

Don Kwak is the Director of Technology and Marketing Analytics at Lone Beacon, and he notes that Act-On is an excellent fit for the agency’s full-service business model. Act-On offers a wide array of integrations that enables the agency to assist financial firms with strategic implementation while also allowing them to leverage their own technology stack to manage all other parts of the sales process. 

“Act-On’s dedication to building integrations to multiple CRM and analytics platforms aligns with our business model as it provides us the interoperability needed to integrate with each advisor’s pre-existing CRM, data management, and analytic platforms. As a result, Act-On provides us more scalability and flexibility compared to other marketing automation providers, such as Pardot or Marketo, who focus more on developing their own branded ecosystem of solutions. 

“Before we used Act-On, we could only guess when and how people were engaging. Now we can literally see real media and buying consumption patterns. The real-time engagement alerts help us evaluate our overall marketing more strategically and even gives us critical information as it happens.”

BRIAN EVANS
CEO of Madrona Financial Services and Bauer Evans CPAs

The Result

John Capuano says that Act-On has not only enabled Lone Beacon to implement the robust digital marketing strategy they designed for Madrona, but the platform has also allowed them to provide the financial advisory with a holistic view of the entire customer journey. 

“With Constant Contact, we didn’t have lead scoring, so we would look at the people who were most active to help Madrona Financial Services identify where their customers were in the sales funnel. Act-On has taken this work to the next level by allowing us to share an activity and engagement timeline with Madrona that empowers them to determine which leads are genuinely interested.”

Brian Evans, Madrona Financial Services’ CEO, notes that this information has been extremely valuable in helping the financial services firm get to know their customers and their decision-making process. 

“Before we used Act-On, we could only guess when and how people were engaging. Now we can visualize real media and buying consumption patterns. The real-time engagement alerts help us evaluate our overall marketing more strategically and even gives us critical information as it happens.”  

Lone Beacon has used these customer engagement insights to develop more targeted automated welcome and engagement email campaigns for Madrona to nurture and engage current customers and leads. Thanks to these efforts, Madrona has achieved average open rates of 30% and click-through rates of 15% while maintaining minimal bounce and opt-out rates. 

John notes that another benefit of using Act-On is that it has allowed Lone Beacon to help Madrona fill their pipeline with more qualified opportunities. He says that although list buying is still a popular practice in the financial services industry, Lone Beacon has helped Madrona shift away from this to building their databases organically with genuinely interested and promising leads. “Instead of reaching out to strangers when promoting events or sending out promotions, we are able to increase Madrona’s chance of success by helping them engage with people who are already in their sales funnel.” 

The digital marketing efforts that Lone Beacon has implemented through Act-On have helped Madrona Financial Services grow sales by an average of 20% annually. They have also reduced their direct mailing costs by 25% by focusing on more email sends. 

Brian believes that Act-On has helped Madrona Financial Services achieve this growth by allowing them to create a more enjoyable customer journey for prospects and clients. “Act-On has allowed us to effectively communicate with clients and prospects like we could not have imagined even a few years ago — and has been a catalyst for our quantum growth.” 

Madrona Financial Services’ success is a great example of how Act-On can help wealth management firms expand and refine their digital marketing strategy. We look forward to seeing how Lone Beacon continues to leverage Act-On to help this firm build great customer journeys that attract, engage, and convert new and current clients. 

Madrona Financial Services

Madrona Financial Services was founded in 1999 to provide CPA Services and financial expertise that is thorough, transparent, and unique, while acting in their clients’ best interest as a fiduciary.

Lone Beacon

Lone Beacon is a full-service marketing partner designed specifically for independent financial advisors. Their mission is to bridge the gap between baby boomers in need of financial advisors and their stellar clients by providing fully customized solutions marketing solutions.