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How Digital Marketing Became The New Normal For Wealth Managers And Private Banks – And How To Capitalise On It. Part 3

Published: 14 September, 2020

 

This is the third in a series of posts examining the new normal of digital marketing – and what wealth managers and private banks must do to make the most of it.

In this post, I’ll look at what is the best channel through which to distribute your digital content and produce valuable engagement data.

And the winner is (drum roll):

Email.

It seems that, in a world where – like it or not – we’ve all been thrust into a digital communication landscape, people increasingly favour email as the best way to get information.

And this isn’t just my own opinion – it’s based on research. In May, a couple of months into lockdown, we completed a survey with Greenwich Associates to analyse communication preferences for financial information. It found that 92% of people rated email as the best way to receive data, above any other method.

These are the best figures I’ve seen for email since it was the only choice for digital communication. It seems that the sheer breadth of other options – Zoom calls, Teams, IMs, WhatsApp messages, texts etc – has sent people back to what they know best. Respondents pointed to ‘communication fatigue’ as the main reason for favouring email.

When we dug further, there were other reasons – the ability to get more detailed content through email, being able to look at it when you want, and the ease of filing the information on your own system.

So, email is the number one weapon in your digital distribution armoury.

Obviously you shouldn’t ignore other digital channels – web, social etc are still important.

But of course all these channels are only as good as the content you distribute.

Because when you send out quality content – that investors actually want to read – you have the ability to track interaction and discover who is looking at what.

So, to make the most of your digital marketing, you must know the type of content that works best. I’ll cover that topic in my next and last post in this series.

 

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