How to Approach Financial Services Marketing?

With Financial Services Marketing in overseas territories, competition and regulations rise in tandem with client desires. Clients have so many options for how to take their business offshore, but what is it that is most desirable? Let’s face it, not all OFS companies will thrive, in this “post/during COVID” landscape. For those who do thrive, what relevant solutions can they offer that will meet client expectations? There are a number of technologies that research, review, and communicate their message while analyzing its resonance.

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What is the ROI of Financial Services Marketing?

In offshore financial services, the competition is high, which typically means the traffic is expensive. DTC marketing is difficult and could take time to see results. So, pay-per-click ads on search platforms will often yield a low return if the campaigns aren’t sophisticated, the response time isn’t instant, and the campaign isn’t monitored on a daily basis.

As anyone who handles business development for overseas financial services knows, the most trusted way to grow a client list is through intermediaries and financial institutions. There’s a lot of time and effort to build these alliances but an experienced BD should have connections that can produce new growth in a short period.

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How to Improve Financial Services Marketing ROI, online.

Don’t follow the pack.

There are more creative ways to generate sale qualified leads for company formation, trusts and family offices but only a few businesses use them. Linked Selling, is an example which emphasises targeting and persona building. It sounds complicated and it can be, but this strategy will give a financial services business developer more precise and actionable insights than any analytics tools can.

Know who your Target Personas are.

Marketing to everyone is marketing to no one. Every Persona should pinpoint any and all decision-making factors to qualify them as an SQL. These factors are infinite, but scrutiny with personas early on will yield long term value and conversion success later on.

Favor marketing people, over software.

Software is great at organizing information, measuring and visualizing data, predicting behavior and helping workflow. It is terrible at communicating with people and when we market to people, we forget that. Focus less on clicks, and more on setting meetings. The differences are huge for the prospect, and human interaction early in the sales process will build trust and rapport while exceeding client expectations in regard to customer service and availability.

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Where to begin in Financial Services Marketing?

Start with personas. Executing a marketing strategy targeting high-net-worth individuals,  financial institutions, wealth advisors and intermediaries is a process that can be daunting. Often times, OFSCs do too much, too quickly at the expense of having well-conceived personas.

Feel their pain. Why do they need a company overseas? Take Brazillian wealth advisors in Sao Paulo as a sample persona, their clients live in one of the highest taxed countries in the world, not to mention the government is famously corrupt. Now how does your business fulfil the purpose that this persona needs

Provide a purpose. Obviously, it is their job to protect their assets from liabilities and a corrupt government. How happy would their client be if that asset protection and savings also contributed to a lifestyle where they’d be in the same company as Richard Branson and Larry Page? Communicate how your services cure the pains that their clients are experiencing.

Get meetings.

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Final Thoughts

If you still need help getting your financial services company more leads and clients, we have a solution. Get in touch with our Financial Services Marketing Expert, Nick Cunha to discuss in person.