Founded in 1992, Gentle Rain Marketing Inc. is the premier boutique-marketing firm on affluent client attraction strategies. Please watch this short video from Mark Satterfield, founder and CEO of Gentle Rain Marketing Inc who shares his thoughts on the affluent marketplace.
Here’s the reality… the affluent marketplace is different. The clients are savvy, discerning, and have no shortage of options when it comes to choosing advisors. In order to compete in this demanding environment you need to both have a keen understanding about the unique characteristics of this market, coupled with a finely honed relationship building strategy.
As a subscriber to the Gentle Rain Affluent Marketing Advisor you will learn works in today’s economic climate (as well as what doesn’t), how to establish your brand, and how to build trust & credibility with the affluent and those who can assist you in gaining access.
Now you may not be targeting the ultra-wealthy, you may be focusing on merely the affluent. However, by learning from the masters, you are bound to increase your ability to attract, develop and retain these very important high-value relationships.
The key to attracting affluent clients depends upon being able to implement a multi-platform relationship-building strategy. By this I mean you need to both understand what to communicate and how best to communicate the message. Above all else, you must convey an image and communicate stories that are consistent with what this level of client expects and requires.
Each month I’ll share insights on strategies, positioning and branding that are crucial for attracting ultra-wealthy clients. Here’s just some of what you’ll learn.
- Creating the “Client Experience”. This is the key point of differentiation between just another advisor, and one who obviously caters to the needs of the wealthy.
- How to make doing business with you signify something that the affluent market respects.
- Not surprisingly, traditional financial seminars don’t attract the affluent and ultra-affluent. But there are alternatives worth exploring. These creative approaches can be duplicated in virtually any market.
- When you look at Waldron Wealth Management (ranked #3 as America’s best independent financial advisor by Barron’s), you’ll notice that their marketing message is in perfect sync with one of the top three motivations of the affluent market. Do you know the other two? Does your marketing message match with one (or more) of them?
- Backdoor strategies. How to get on the radar screen by creatively linking with the passions and hobbies of the affluent.
- How to align yourself with what is of profound interest to the affluent market.
- How to appeal to the affluent boomers. There are 3 crucial “wants” that every advisor needs to understand. You must match your services to those wants if you expect them to pay attention to you.
- Which social networks do you want to participate in that attract the ultra-affluent client? (Hint: It isn’t Twitter.) This one organization has over 15 million members and needs to be an essential part of your client acquisition strategy if you’re going to be viewed as a serious player.
- Affluent Boomers are more attune to language than other markets. As Mark Twain observed, “The difference between a word and the right word is the difference between lighting bugs and lightning.” This is the language that the affluent market respects, and this is what you want to avoid.
- Buying mailing lists of the affluent. Can direct mail possible work? The answer is “Yes”, but buying the list is the easy part. Determining what to send is the greater challenge. This is what works. This is what doesn’t.
- What virtues does the affluent market hold in the highest regard? Not surprisingly, it is crucial that your message and brand reflect them.
- The 7 areas of insecurity that the affluent market doesn’t want you to know about.
- Where you need to be. What you need to read.
- How the press and PR fit into your overall strategy.
- The role of advertising. Yes, it plays a role in the overall relationship building strategy, but only if it’s used in a manner consistent with the expectations (and concerns) of the affluent.
- When you examine the most successful advisors you’ll notice that they all use “take away selling” in a highly subtle, yet extremely effective fashion. This is how they do it.
- How to develop a unique value proposition that resonates with an elite group of savvy and sophisticated clients.
- The affluent market expects that you should be able to “anticipate” their needs. They look for signs of this capability during the “getting to know you” process. Do you fully understand what’s required?
- Many financial advisors dream about “bumping into” ultra-affluent clients. Why not turn that daydream into reality? From Post Ranch Inn at Big Sur, to Twin Farms in Vermont, being at the right place at the right time can get you introduced to those you thought you’d never meet.
- Once the initial contact is developed the next challenge becomes how do you orchestrate an ongoing communication strategy that keeps you top of mind while building trust and credibility? Here’s how to do that.
- And much more…