3 Simple Ways to Improve Your Marketing and Grow Your Wealth Management Business

3 Simple Ways to Improve Your Marketing and Grow Your Wealth Management Business


by Justin Deaville
Managing Director

5 March 2024

With economic uncertainty and tough competition, UK wealth managers have big challenges staying successful and growing their business. But by being creative and using digital chances, firms can stand out and still do well, even when times are hard. 

Let’s explore three important steps wealth firms should focus on now (and we’ll share three eBooks where you can find more details): 

1. Get branding and performance marketing working together 

Receptional’s Paid Media experts suggest balancing long-term brand efforts with short-term-results marketing.  

In their seminal study, Binet and Field suggest a 60/40 budget split favouring branding. But the exact balance depends on your aims. Combine branding and performance at each buyer stage for the most impact. 

Brand building with emotional films sets you up for future growth by shaping views and fostering loyalty. For instance, a 60-second customer story video can help shape prospects’ feelings and can build your brand. 

Marketing that drives quick results uses search ads to bring in more investors researching plans. For example, Google ads get conversions from those actively comparing options. 

Find out more about the balance between brand and performance marketing in our eBook, ’The Art of Thriving’. 

2. Use YouTube advertising 

Receptional’s ‘Decoding HNWI Digital Habits of HNWIs’ report shows YouTube is now the top platform affluent investors use when researching investments.  

Most wealth-management firms don’t advertise on YouTube, which is a missed opportunity to engage well-off investors. 

Short, simple YouTube videos tailored to investors can help you cost-effectively reach these valuable people. Useful tips for videos: 

  • Keep them short, under 2 minutes 
  • Use plain, easy-to-understand language 
  • Include relevant graphics and footage 
  • Introduce and gently demonstrate your skills and experience (but without selling too hard). 

Adding YouTube to your marketing efforts expands who you reach and builds your brand with a key audience. 

Capturing attention on YouTube sets you apart. 

3. Test your campaigns – step-by-step 

To improve the performance of your digital ads, Receptional’s Paid Media team also recommends a structured approach to testing. By methodically trying different message, creative and audience combinations from the ‘Maximising Ad Impact’ guide, you see what works best based on data. 

We recommend a 4-step approach: 

i) Message Testing Test 5-10 headlines/hooks keeping the creative (and all other aspects of the campaign) unchanged.

ii) Creative Testing – Test different creative (images/video/carousel).

iii) Audience Testing Test new audiences by age, interests etc using your best message and creative. 

iv) Scaling Once you’re confident in your test, we would scale the campaigns – focussing budget on the best performing assets and audiences.

Testing over 14+ days means you make decisions based on what’s working. Halt underperforming activity early – don’t waste budget. Then scale up the winners.  

That’s how to get better returns from your budget. 

Ready to transform your marketing? 

The time to act is now. By being creative, using YouTube smartly and constantly improving through testing, wealth management brands can attract relevant enquiries more frequently. Will you grab your chance? 

If you’d like to discuss any of these suggestions the friendly experts at Receptional can help. Get in touch today. 

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