5 strategies to grow in an overcrowded private client market space
DESCRIPTION
A presentation Elizabeth Hoyle, the CEO of H2 Central Marketing and Communications, delivered to the Portfolio Managers Association of Canada (PMAC) in November 2012. To learn more about H2 Central visit our website at h2central.caTRANSCRIPT
IN AN PRIVATE CLIENT MARKET SPACEOVERCROWDED
Commit to disciplined marketing
Operationalize marketing
Refine your ID, positioning & messaging
Increase amount & quality of communications
Polish your online presence
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JUST HARD WORK AND DISCIPLINED EFFORT
Marketing creates conditions to persuade – a client or prospect to invest with you
Apply same discipline as with your investment strategy
Market from a strategic level
Execute at a tactical level – flawlessly
Commit to disciplined marketing1
JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
Operationalize marketing2
Calendarize your Marketing Plan
Coordinate with reporting
Quarterly themes, corresponding tactics
Integrate activities to get more bang for $
Operationalize marketing2
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Database Collect Organize
CRM Service Segment Prioritize:
- Align servicing- Cross/upsell –
work it
Prospect: Sales pipe –
work it
It’s not the software, it’s how well you work it.
Refine your ID, positioning & messaging3
What do you offer?
What makes you different?
Do you stand out in the competitive landscape?
Why does it matter?
+5Ws 1H
Refine your ID, positioning & messaging3
In concrete terms:
USP – unique selling proposition
Features – What you offer
Attributes
Distinctive characteristics
Benefits – What investor receives
Promotes well-being
Betterment
Advantage
Define your USP – “special sauce”
Create your own lexicon to describe it
Create an experience around it
Show why it’s better than the rest
If you can put another company name on your company description, then it’s not yours
Vague, typical & cliché don’t stand out
Find something unique - USP
Improve quality of communications4
What Do You Want the Client/Prospects to:
THINK
Rationale
Numbers
FEEL DO
Emotional
Feeling, experience
The ask
Behaviour change
+ =
Polish your online presence5
It’s about being online, not being social
Affluents are online
Meet clients/prospects on their “consumer” journey
Increasingly online
AFFLUENTBRANDS
Polish your online presence5
Affluent engage with their brands – think: hotels, schools, clothes
Four Seasons Luxury Trend Report:
78%of affluent using social networks
50%using to connect
to a brand
65%of wealthy think
that brands without a social media presence are out of touch
Start with listening tools – see what’s going on
Audit your online properties & confirm to best practices
Evolve with your clients
5Ws
Start an online audit: web, SEO, social
Get all your people on LinkedIn with profiles
Establish a sales pipeline
Write a marketing plan & calendarize it
Do the positioning test
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Solidify your base:Get to know the sons & daughters NOW
Target new clients:Everyone is online – you don’t know who is looking at you – maximize your presence, SEO
Acquisition?Start with the right questions:strengths & weaknesses? – then look for the party that strengthens you
H2 Central Marketing & Communications36 Toronto StreetSuite 800Toronto ON M5C 2C5H2Central.ca
Elizabeth HoyleCEO