The last in a four-part series of commentaries on how and why digital marketing is now a central business priority for the world’s wealth management sector.
Paul Das, who is managing director of ProFundCom, an international digital marketing platform, has these thoughts about how wealth managers do and should use digital marketing - a crucial theme not just because of the present pandemic but because of the continued momentum behind modern technology. The editors are pleased to share these ideas with readers and invite responses. Email firstname.lastname@example.org
This is the final post in my series examining the new normal of digital marketing - and what wealth managers and private banks must do to make the most of it.
I’m going to finish by looking at how to produce content that people actually want to read.
Because when you do that - and distribute and analyse it using the methods and channels I’ve already covered - you will discover vital marketing information. Such as the new prospects who are looking at your content, those who are showing interest again after being dormant, and the existing clients who are suddenly looking at new data. The sales potential of this information is obvious.
Tracking also reveals when existing clients stop looking at your content - meaning that a well-timed call from sales may be needed to clear up any stumbling blocks and keep them on board.
Yet all this hinges on quality content.
But what exactly do people want to see?
Experience has taught me that the best type of content, at least in the wealth management and private banking space, is thought leadership. By this I mean insightful articles, videos, posts etc from senior figures in your company who position your firm as an authority within the sector. This in turn helps persuade potential clients that you will look after their money and help it grow. By commenting intelligently on current topics, you keep your firm front of mind with your audience. But it has to be regular - one piece every six months just won’t cut it, as people will forget about you.
Thought leadership is you displaying your expertise and philosophy on the tricky job of handling money. This is what people want to read and hear. We recently ran a straw poll of ProFundCom webinar attendees; they said that investment philosophy, which effectively means thought leadership, is the most important factor with regard to digital engagement. This was seen as way more important than performance, for example.
And one of the beauties of thought leadership content is that it has multi-channel potential. You can link to articles and videos through social media, and put everything in a dedicated thought leadership section on your website.
And, of course, you must send each piece out via email. But how you actually present your content is also important, particularly with email.
If you just throw all your content into two massive paragraphs, few will get through the first couple of lines - large, solid blocks of text are off-putting. People tend to scan content before reading it properly. So, if you have an email template that encourages scanning - through short and snappy paragraphs, well-placed bullet points, and links to find out more - then you will vastly increase readership.
And the more people who read your content, the more valuable engagement data you have to analyse.