5 Strategies to Grow in an Overcrowded Private Client Market Space
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Transcript of 5 Strategies to Grow in an Overcrowded Private Client Market Space
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IN AN PRIVATE CLIENT MARKET SPACEOVERCROWDED
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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
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Marketing creates conditions to persuade – a client or prospect to invest with you
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Apply same discipline as with your investment strategy
Market from a strategic level
Execute at a tactical level – flawlessly
Commit to disciplined marketing1
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JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
Operationalize marketing2
Calendarize your Marketing Plan
Coordinate with reporting
Quarterly themes, corresponding tactics
Integrate activities to get more bang for $
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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.
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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
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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
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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
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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
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Improve quality of communications4
What Do You Want the Client/Prospects to:
THINK
Rationale
Numbers
FEEL DO
Emotional
Feeling, experience
The ask
Behaviour change
+ =
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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
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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
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Start with listening tools – see what’s going on
Audit your online properties & confirm to best practices
Evolve with your clients
5Ws
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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
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H2 Central Marketing & Communications36 Toronto StreetSuite 800Toronto ON M5C 2C5H2Central.ca
Elizabeth HoyleCEO