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Digital Marketing Priorities For Wealth Managers – Part Two

Published: 23 April, 2020

This is the second of three posts about the key issues that wealth managers must concentrate on when it comes to digital marketing.

In this post I’m looking at how to use digital to adapt and improve your client experience.

There are several ways you can do this. And the first one I’ll focus on is your website.

For a wealth management website to be effective in an increasingly digital world, it has to be so much more than just ‘brochureware’ that simply serves to promote your company

The fact is that your existing clients don’t come onto your website to find out when you were founded, where you’re based, and how you can help them.

That’s all pertinent information for prospects, but it’s just promotion. Your actual clients know all of the above already. They want to access your website to look at the current state of their holdings and what you are doing with their money, through a simple and intuitive user interface. There is a new breed of millennial investor for whom investment updates coming in packs through the post is simply not good enough – they want real-time, digital access to their accounts. When you provide it you differentiate yourself from the competition.

And the easier you make it for them to get that information, the better. A one-stop-shop where they can see all their different holdings in one single place is highly useful to people, as they can check-in at any time to see if their investments are on the right path, or if they need to make a course correction.

You can also improve client experience by using your website to disseminate thought leadership content. This is the type of content that provides expert views on pertinent topics, thus providing some kind of help or guidance to your target market. Crucially, this type of content needs to be a considered opinion – rather than anything that is self-promotional. It has to help your clients understand a certain situation – e.g. Brexit or trade barriers – and what it means for their money. This isn’t to say you have to offer a solution – in fact, being humble can help – but it’s a way to guide and help your clients. And you should try and engage with readers, by welcoming feedback and comments.

In addition, wealth managers need to understand that events and meetings are increasingly moving online – and that has repercussions for the client experience. Face to face meetings and events are no longer the necessity they once were – the same things can be done via video calls and webinars. This won’t completely change overnight, but the whole wealth experience is moving online – and it is increasingly what clients expect. This is a behavioural change that will soon establish itself as the new normal, and the coronavirus pandemic has speeded up this process.

My last point on this is that wealth managers must invest in outreach, to build a strong and persistent digital presence – as people are increasingly looking for wealth management information online. This means you need to be appearing on searches – organic and paid – across both search engines and social channels. And – just as with email marketing – this has to be a relentless process. It shouldn’t be something you dip in and out of, you need to put your brand out there consistently and regularly, so potential clients can find you easily.

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