{"id":49750,"date":"2024-03-05T15:33:24","date_gmt":"2024-03-05T15:33:24","guid":{"rendered":"https:\/\/www.receptional.com\/?p=49750"},"modified":"2024-05-01T16:28:33","modified_gmt":"2024-05-01T15:28:33","slug":"3-ways-to-grow-your-wealth-management-business","status":"publish","type":"post","link":"https:\/\/www.receptional.com\/articles\/3-ways-to-grow-your-wealth-management-business\/","title":{"rendered":"3 Simple Ways to Improve Your Marketing and Grow Your Wealth Management Business"},"content":{"rendered":"<p><span data-contrast=\"auto\">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.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Let&#8217;s explore three important steps wealth firms should focus on now (and we\u2019ll share three eBooks where you can find more details):<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><strong>1. Get <\/strong><b><span data-contrast=\"auto\">branding and performance marketing working together<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Receptional\u2019s Paid Media experts suggest balancing long-term brand efforts with short-term-results marketing. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In their seminal study, <\/span><a href=\"https:\/\/www.amazon.co.uk\/Long-Short-Balancing-Long-Term-Strategies\/dp\/085294134X\"><span>Binet and Field<\/span><\/a><span data-contrast=\"auto\"> 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.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">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\u2019 feelings and can build your brand.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">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.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Find out more about the balance between brand and performance marketing in our eBook, \u2019<\/span><a href=\"https:\/\/www.receptional.com\/ebooks\/the-art-of-thriving-how-to-blend-brand-and-performance-marketing-in-financial-services\/\"><span>The Art of Thriving<\/span><\/a><span data-contrast=\"auto\">\u2019.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">2<\/span><\/b><b><span data-contrast=\"auto\">. <\/span><\/b><b><span data-contrast=\"auto\">Use YouTube advertising<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Receptional\u2019s \u2018<\/span><a href=\"https:\/\/www.receptional.com\/ebooks\/decoding-the-digital-habits-of-high-net-worth-individuals\/\"><span>Decoding HNWI Digital Habits<\/span><\/a><span data-contrast=\"auto\"> of HNWIs\u2019 report shows YouTube is now the top platform affluent investors use when researching investments. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Most wealth-management firms don&#8217;t advertise on YouTube, which is a missed opportunity to engage well-off investors.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Short, simple YouTube videos tailored to investors can help you cost-effectively reach these valuable people. Useful tips for videos:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Keep them short, under 2 minutes<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Use plain, easy-to-understand language<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Include relevant graphics and footage<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Introduce and gently demonstrate your skills and experience (but without selling too hard).<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Adding YouTube to your marketing efforts expands who you reach and builds your brand with a key audience.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Capturing attention on YouTube sets you apart.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">3. Test your campaigns &#8211; step-by-step<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">To improve the performance of your digital ads, Receptional\u2019s Paid Media team also recommends a structured approach to testing. By methodically trying different message, creative and audience combinations from the \u2018<\/span><a href=\"https:\/\/www.receptional.com\/ebooks\/innovate-optimise-succeed-a-guide-to-maximising-the-impact-of-your-ad-creative\/\"><span>Maximising Ad Impact<\/span><\/a><span data-contrast=\"auto\">\u2019 guide, you see what works best based on data.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">We recommend a 4-step approach:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">i) <\/span><b><span data-contrast=\"auto\">Message Testing<\/span><\/b> <b><span data-contrast=\"auto\">&#8211;<\/span><\/b><span data-contrast=\"auto\"> Test 5-10 headlines\/hooks keeping the creative (and all other aspects of the campaign) unchanged.<\/span><\/p>\n<p><span data-ccp-props=\"{}\"><\/span><span data-contrast=\"auto\">ii)<\/span><b><span data-contrast=\"auto\"> Creative Testing<\/span><\/b><span data-contrast=\"auto\"> &#8211; Test different creative (images\/video\/carousel).<\/span><span data-ccp-props=\"{}\"><\/span><\/p>\n<p><span data-contrast=\"auto\">iii) <\/span><b><span data-contrast=\"auto\">Audience Testing<\/span><\/b> <b><span data-contrast=\"auto\">&#8211;<\/span><\/b><span data-contrast=\"auto\"> Test new audiences by age, interests etc using your best message and creative.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">iv) <\/span><b><span data-contrast=\"auto\">Scaling<\/span><\/b> <b><span data-contrast=\"auto\">\u2013<\/span><\/b><span data-contrast=\"auto\"> Once you\u2019re confident in your test, we would scale the campaigns &#8211; focussing budget on the best performing assets and audiences.<\/span><span data-ccp-props=\"{}\"><\/span><\/p>\n<p><span data-contrast=\"auto\">Testing over 14+ days means you make decisions based on what&#8217;s working. Halt underperforming activity early \u2013 don\u2019t waste budget. Then scale up the winners.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">That&#8217;s how to get better returns from your budget.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Ready to transform your marketing?<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">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?<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">If you\u2019d like to discuss any of these suggestions the friendly experts at Receptional can help. <\/span><a href=\"https:\/\/www.receptional.com\/contact\/\"><span>Get in touch<\/span><\/a><span data-contrast=\"auto\"> today.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Understanding your clients or prospects is the first step to creating a successful marketing strategy.<\/p>\n<p>This is why we surveyed over 500 high-net-worth individuals (HNWIs), to understand the main influences of their investment research.<\/p>\n<p>From this, we identified the channels they are most influenced by, revealing how you can tailor your marketing to prospects based on their preferences.<\/p>\n","protected":false},"author":16,"featured_media":49898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[177,140,139,142],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 Simple Ways to Grow Your Wealth Management Business | Receptional<\/title>\n<meta name=\"description\" content=\"Enhance your marketing and grow your wealth management business with these three simple steps. 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