Marketing Strategy to Target High-Net-Worth Individuals

High-net-worth individuals require a different marketing approach than the rest of the world’s consumers.

According to the PwC Strategy & Global Wealth Management Survey 2016, high-net-worth individuals possess generous amounts of digital literacy. They use multiple devices frequently with 98 percent accessing the internet and/or apps on a daily basis.

Financial services not marketing to this demographic are missing out on a key group. Note, however, that marketing to high-net-worth individuals must be done right to be effective.

Highlighting Exclusivity and Top-Tier Service

High-net-worth individuals are used to having exclusive access and perks. These individuals expect products and services that are not available to the mainstream population. Your marketing needs to reflect that. Whatever you are offering, your strategy needs to promote this messaging.

Consider marketing your VIP perks, top-tier service not available to the mainstream, members-only benefits and anything else that requires a certain level of gatekeeping to access. This not only gives aspects of your business highly prized exclusivity, but it helps your high-net-worth individuals feel like their privacy is paramount.

The AltaStreet Client VAULT, for example, assures efficiency and confidentiality, giving your clients secure access to documents and personalized collaboration.

Personalization in Marketing

High-net-worth individuals expect individual attention and care. Providing this is easier said than done in marketing. When you are working with people one-on-one, you can tailor your activities and strategies to the individual. With an online or digital approach, this is harder to accomplish.

This is where data-driven marketing comes in. Focused campaigns should be monitored and analyzed to make sure that strategies are working well. If, on analysis, they are not effective, you can – and should – adjust them.

Generic campaigns like mass emails will not work with the high-net-worth segment of your market. Instead, your approach should be highly personal, without losing sight of what your clients want and need.

AltaStreet’s content filtering is one way to deliver highly personalized content. It allows marketers to pick and choose what each client or client group sees.

AltaStreet’s Features for Financial Marketing

Our Client PORTAL, Client VAULT, and content filtering are just three of the ways we can help tailor financial marketing to high-net-worth individuals. We are happy to build custom programming to suit any marketing needs.

Reach out to us today to learn more about our offerings. Schedule a consult with our team and we’ll get started right away.

How Video Marketing is Beneficial to Boost Financial Service Leads?

The financial industry has been slow to get on board with inbound. This is advantageous to you. Any improvements you make to your inbound marketing can put you way ahead of your competition. We recommend adding video to your marketing. In particular, an explainer video can increase your financial services leads.

Here’s why you should get involved in video marketing if you haven’t already.

Why Use Video Marketing?

The proliferation of video is one of the biggest and fastest growing trends in inbound marketing today. There is a lot of focus on ranking well with Google, and rightly so, but YouTube has been described as the second most popular search engine. In 2015, YouTube outstripped Google in terms of popularity on desktop computers.

Consider also that people tend to retain images – especially moving images – better than they retain text. Video combines moving images and audio, so you can make an impact and a lasting impression. If you have a message that you want people to carry away, consider putting it in an explainer video.

What is an Explainer Video?

An explainer video is a short animation used by businesses to convey their brand story to their visitors. They are concise and precise summaries of a business’s products and services. When we say concise, we mean it. These videos are typically fewer than three minutes long. In most cases, sixty to ninety seconds is plenty.

The strength of explainer videos is that they take the core information that a business wants to share and they make it not only palatable but often entertaining too. If you want your potential customers to understand what your business does and why it’s different to other businesses out there, an explainer video is a perfect vehicle for that message.

Explainer videos can help potential customers cut through financial jargon. Jargon is a particular issue in the financial industry. If you want to explore a complex financial issue, an explainer video opens the door for your customers.

When customers understand what they need, they can take action. If your business provides this information in a way that is easy to understand, people are likely to trust and value what you have to say. People work with businesses that they like and trust.

An explainer video is ideal if you want to make a complex financial process, idea, or service, understandable. While financial matters can often be ‘dry’ or even threatening, an animated video makes it all more manageable.

Some serious numbers to consider

Explainer videos are particularly good at generating leads, which can more than repay the initial investment in the video. If you’re wondering how exactly an explainer video can help generate more qualified leads for your financial business, then here are some astonishing numbers for you:

  • Adding an explainer video to your website can boost conversions by as much as 300%
  • On average, 85% or more of people who watch a video of your product or service are likely to buy
  • 88% of visitors stay on a site longer when video is prominent (Mist media)
  • 90% of shoppers found watching a video helpful when making a buying decision (ComScore)
  • You’re 53 times more likely to appear on page 1 of Google if your website uses video (Forrester Research)
  • Video now appears in 70% of the top 100 search listings
  • Our brains process visuals at 60,000 the speed of text
  • Video used in email marketing campaigns was found to increase click-through-rate by 96% (Implix)

The Power of Explainer Videos

Videos are not an option any more but a necessity. You might find that most of the businesses are using video now days and there is a strong reason for this. If you are not using explainer videos here are a few facts that will make you rethink your marketing strategy:

Google likes video – In fact, they are more than friends. If you can get your visitors to spend more time on your site, Google will (love) reward you. Giving your visitors video content to watch is a great way to increase how long they spend on your site.

Explainer videos generate visitor interaction – Google understands that visitors are more likely to take action based on an explainer video than reading through a textbook of legalese. If you demonstrate that you know this too, Google will boost your ranking in SERPs.

Reduce sales cycle – Explainer videos when used properly along the entire sales funnel will help you educate the prospects in a very systematic way and thus reduce the sales cycle. This will also help become an authority and your prospect will trust you more!

Reach more visitors – As discussed, increasing numbers of web users are watching online videos. If you want to reach more people, it makes sense to make the best, most engaging videos you can.

Explainer videos are shareable – People like to share content that is useful, entertaining, and short. This is how your explainer video can be spread from network to network, generating more leads than ever.

You’ll increase conversion rates – when complex information is expressed simply and clearly, your potential customers will be more likely to make the leap to become customers.

More data to grind – If you have several explainer videos, you will be able to check out how many people are watching each one. This will give you an indication of which of your products and services are the most popular, which is useful for your marketing purposes.

Be direct – your explainer video gets to the heart of your business and presents it to your visitors. If they want further information, they can find it on your site, get in touch with you, or download one of your offerings. With an explainer video, you’ll avoid losing interested people in navigation. Instead, your video will tell them exactly what they need to know to make a decision on your product or service.

Let your personality shine – a great way to engage your visitors is to come across as a team of individuals, not as a faceless brand. An explainer video, although it may be animated, is a fantastic way to share the unique voice and personality of your business. People will get an instant impression about the people behind your business from the style of your explainer video.

You can always augment your personality-building by including video interviews or talking heads in your video marketing, alongside your explainer videos.

What Makes a Great Explainer Video?

The elements of story-telling will help you assess the quality of your video. This needn’t be a massive learning curve. Think of it like this: A good story has a beginning, a middle, and an end.

The beginning should have a hook of some sort, such as an interesting premise or a question to answer. It should capture the interest of your audience and keep them watching to find out how it is resolved.

The middle of your video needs to keep your audience’s attention. This is often the hardest part of a story! When it comes to video, the trick is often to keep it to the point and don’t let it get too long.

The end needs to deliver on whatever you set up at the beginning of the video. Just like a story, you’ll want to make sure that you don’t leave loose ends. If you haven’t done what you said you’d do at the beginning, your video needs more work.

The ideal outcome of an explainer video is that the viewer learns something and finds the solution to a problem. If the video compels the viewer to action, it’s a winner.

Here’s a great example of a short and sweet video that gets to the point fast and tells viewers how this business can help them:  https://www.youtube.com/watch?v=hRjqOII77zc&

Videos like this work well because of their simplicity. As well as being visually engaging, it communicates ideas clearly and promotes understanding of important concepts.

Making an explainer video that distills the essential parts of your brand takes technical skill and expertise. We have you covered.

Further benefits to consider

If you’re interested in becoming a thought leader and leading your industry, engaging with people through video is a fantastic way to get ahead.

If your business is already creating blog posts or is focusing on an ebook or a stellar infographic, consider shifting energy into video. With video, you’ll be attracting new customers, satisfying your existing customers, and speeding ahead of most of your competition.

If you’re considering creating a talking heads video so your visitors can see you and/or your team, you want them to trust you and associate your brand with wealth and safety. Investing in a quality, dedicated video camera, therefore, might be wise. One of the benefits of explainer videos here is that they are largely animated, negating various technical problems. There is no need for you to worry about camera angles, lighting, or getting your good side.

Of course, you can represent the videos in different styles to hammer the point home.

Check out a few more styles of videos here:

https://youtu.be/tZqAqest9GU

https://www.youtube.com/watch?v=FDaCc6BGUHc

https://www.youtube.com/watch?v=6s24FfMCr2k

Whatever kind of video you use for your video marketing, focus on engaging your customers. Don’t play to your competitors. Your customers want to know what makes you different from the competition, not how you can be similar.

A short video unraveling a specific issue that the public tends not to understand can work wonders. Compare this with a 25-minute epic that displays your branding in inspirational settings but doesn’t satisfy any of your customers’ needs.

Focusing on your customers means giving them an insight into what you do and why they should partner with you. It means answering their questions and empowering them to take the next step, whether that’s subscribing to a list or calling you for a consultation.

How Soon Will My Explainer Video Go Viral?

A common issue with video marketing is that people expect their videos to go viral. The truth is that it’s very unlikely that a video will go viral.

The good news is that a video doesn’t need to go viral to bring new customers to your business every single day of the year.

Whatever kind of video you create or order for your site, a good video that tackles the right topic will be evergreen content, working for you 24/7. A great video will be shareable and allow you to reach an even wider potential audience.

How to Get Your Explainer Video

While some professionals, such as artists or skilled laborers, might be able to connect with their audience using hand-held video shot on a smartphone, the public generally expects more ‘stability’ from a financial services industry video. This doesn’t mean hiring Steven Spielberg to shoot your video, but it does require you to think carefully about the quality of the sound and look. An animated video, of course, can dismiss many technical issues in a single move.

Paying someone to make your business an animated video can make life a lot easier for you. It will also provide you with something for your video marketing that is especially effective at communicating messages.

Done well, your explainer video will be immensely shareable and provide you with a significant increase in leads.

If you have been reluctant to engage with video in the past, hopefully you will reconsider. We can make it easy for you. If you want to reach a larger audience and generate more leads, video will deliver, and we can help make it happen.

For a special one time marketing event, AltaStreet has teamed up with http://rkale.com/a stellar animation video company which has expertise working with Financial niche and has consistently provided high ROI’s to its clientele for past few years.

As a subscriber and LinkedIn contact, we have a special offer available. This content will boost your traffic and send your lead generation through the roof.

You’ll need to get in on it fast, though. We’re only accepting 10 videos per month.

Don’t hesitate. Get in touch today to discuss your professionally-made explainer video.

Contact: Dan Stark dan@altastreet.com
www.altastreet.com

We made a Video for this Special Offer, Check it out: https://youtu.be/tZqAqest9GU

LPL Financial Chose AltaStreet for Website Marketing

LPL Financial, the nation’s largest independent broker/dealer* and leader in the retail financial advice market, has selected AltaStreet Financial Websites and Marketing for inclusion in LPL Financial’s Vendor Affinity Program.

The Vendor Affinity Program was designed to help its more than 14,000 advisors reduce the complexity and costs of running their businesses. The program consists of a centralized repository of vendors that have agreed to provide their products and services to LPL advisors at discounted prices. AltaStreet offers LPL advisors creation of custom websites across a range of budgets.

AltaStreet is a leading provider of advisor-centric technology solutions including custom website design, custom back end development and automation technology for financial services companies.

“At AltaStreet, we approach work with our clients through a lens of true discovery in an effort to uncover stumbling blocks and obstacles our clients face when using the Internet to market their business, generate leads, acquire clients and add revenue to the bottom line,” said Dan Stark, director of Business Development at AltaStreet. “The technology solutions we offer can significantly cut costs and boost revenues and ultimately help clients thrive in the digital world.”

“We recognize that technology is a major contributor to creating increased efficiency and driving greater productivity in our clients’ businesses,” said Victor Fetter, LPL Financial managing director and chief information officer. “Being able to connect LPL clients with leading technology solution providers adds a new dimension to the level of service and support we can provide to clients to help them manage and grow their businesses.”

AltaStreet was founded in 1998 by CEO Robert Sheinbein, a former financial advisor who created technology automation to serve his own office. As an advisor managing a family’s multi-billion dollar portfolio, Sheinbein could see the tremendous value the automation provided. With a unique perspective to be able to deliver technology solutions that solve advisors’ unique needs, he parlayed his experience into building complex back-end systems for a variety of companies and began AltaStreet. His financial services industry experience separates AltaStreet from other businesses in the website design and development space, as the company blends Sheinbein’s perspective with that of experts in business, marketing, sales, branding, websites and technology to create a premier company providing custom website design, custom website development, and web marketing services to the financial services industry.

AltaStreet is an industry leader in the custom website design space, specializing in design, development, SEO, branding and logo design. The company’s programming skills can support a range of needs, including social networking tools, shopping carts and payment gateways, with the proprietary tools for supporting compliance needs.

About AltaStreet:

AltaStreet Financial Websites and Marketing was founded in 1998. AltaStreet is a leading provider in custom website design, custom development and automation technology for financial services companies. They often function as an outsourced CMO for the companies they help. AltaStreet’s solutions provide a very high return on investment for their clients. In the space they operate in, where their clients need credibility, image matters. What does your website say about you?

For more information about AltaStreet, please visit  https://www.altastreet.com

About LPL Financial:

LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and served approximately $486 billion in advisory and brokerage assets, as of May 31, 2016. LPL is one of the fastest growing RIA custodians and is the nations largest independent broker-dealer (*based on total revenues, Financial Planning magazine June 1996-2016). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 banks and credit unions, enabling them to help their clients turn life’s aspirations into financial realities. Advisors associated with LPL also serviced an estimated 45,000 retirement plans with an estimated $121 billion in retirement plan assets, as of March 31, 2016. LPL also supports approximately 4,200 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,400 employees with primary offices in Boston, Charlotte, and San Diego.

For more information, please visit http://www.lpl.com

Securities and Advisory Services offered through LPL Financial. A registered investment advisor, Member FINRA/SIPC.

AltaStreet Contact:
Dan Stark
+1-216-894-5193
dan@altastreet.com

Finding your brand essence

From the blog of Seth Godin

I got an email from someone who had hired a consulting firm to help his company find their true brand selves. They failed. He failed. He asked me if I could recommend a better [consulting firm].

My answer:

The problem isn’t the consultant, it’s the fact that if you have to search for a brand essence, you’re unlikely to find one.

Standing for something means giving up a lot of other things, and opening yourself to criticism. Most people in the financial services industry (or any industry, actually) aren’t willing to do that, which is why there are so few Charles Schwabs in the world.

First, decide it’s okay to fail and to make a ruckus while failing. THEN go searching for the way to capture that energy and share it with the world.

Clothes don’t make the man, the man makes the man. Clothes (and the brand) just amplify that.

What’s the difference between a support request and content update?

An important part of understanding the AltaStreet support agreement is defining what is included as a support request, compared to what is a content update.

A content update is anything that COULD be done by the client through the AltaStreet CMS, but is instead given to the AltaStreet staff to do.  This includes text updates, image updates, uploading newsletters, etc…

A support request includes fixes for non-functioning website features, all website training, and any content updates that cannot be made through the AltaStreet CMS.

For newer clients, the latest version of the AltaStreet CMS gives the client the ability to update most of the content on the website.  For older clients the AltaStreet CMS is more limited, and therefore the client’s ability to make updates is also more limited.