While not a new concept, content marketing, particularly in the form of thought leadership programs, is proving to be an effective tool for promoting service firms like wealth and asset managers. This is not surprising since these firms “sell” an intangible product where expertise is critical, and well-crafted thought leadership can provide a compelling proof statement of capabilities and product quality.
Personalization, in the form of targeted messaging and communications demonstrating you understand your clients, their challenges and needs, is trending in content marketing today. Several recent studies from McKinsey and others have quantified the significant sales advantage of personalized outreach campaigns. Surveys also suggest rising expectations by clients for increased personalization as an essential element of a satisfying client experience.
We believe wealth and asset management firms that closely align their thought leadership content with the needs, goals and circumstances of their clients will be more successful. Traditional thought leadership often focuses on general topics about how a firm, for example, manages assets or builds diversified portfolios. It tends to cover investment process, philosophy, and expected outcomes apart from specific client experiences. Personalized thought leadership shifts the focus to the client. It explains product and service design and delivery from the perspective of the specific way clients will find value in the experience.
Crafting this type of thought leadership requires first and foremost a deep understanding of your clients. Increased data collection from a wide array of sources coupled to sophisticated analytics can help you build dynamic client profiles and achieve highly granular client segmentation.
These client profiles can serve as the foundation for personalized thought leadership. Marketers can now create content that connects expertise and product features to the specific needs of the individual (or micro-segment) client. Tone, language, and comprehension level can also be closely tailored to the target as can timing and media choice.
The result is more relevant and compelling messaging, resulting in deeper and more satisfying client relationships.