Marketing to New and Growing Wealth Segments
Rachel Thompson
rachel.thompson na researchandmarkets.com
Pondělí Říjen 23 17:12:54 CEST 2006
I enclose details of our latest wealth management report.
The profile of wealth management clients in Europe is currently changing in response to wider social and economic changes. These are creating a higher level of demand for wealth management services among certain groups, and wealth managers are in the process of identifying how to effectively target these groups.
Scope of this title:
- Considers the rise of certain client types across Europe;
- Provides examples of global marketing and client acquisition strategies.
Highlights of this title:
- The key to marketing to entrepreneurs and the owners of small businesses is to demonstrate an understanding of the current and future issues facing this group. Wealth managers must be able to show that they are flexible and immersed in the business environment, with knowledge of the services and support that small businesses require.
- Retirees are often considered by wealth managers to be a difficult segment to target through marketing, for several reasons. Firstly, this group do not necessarily have the same set of objectives for the management of their wealth as younger clients they may want to focus on finding effective ways to pass their wealth on rather than develop it.
- Wealth managers seeking to attract families need to develop ways of bringing this potentially diverse group together and demonstrate the ability of the bank to cater to a variety of needs as well as manage the wealth of the whole family in a unified way.
Reasons to order your copy:
- Identify the fastest growing and potentially most important groups of clients in the European market;
- Gain insight into existing strategies used by competitors to attract valuable client segments.
For a complete index of this report click on:
http://www.researchandmarkets.com/product/06f995/marketing_to_new_and_growing_wealth_segments
Report Index:
Chapter 1
Introduction
Overview
What is this report about?
Who is the target reader?
How to use this report
Chapter 2
Best practice in marketing to new and growing client segments
Introduction
Entrepreneurs are best targeted using an information-based approach that demonstrates understanding of their needs
Provide networking opportunities for clients and potential clients including educational events and seminars
Offer business information and general news for small businesses directly
Become locally accessible to small businesses
Leverage existing clients in the target group
Wealth managers should promote holistic solutions to the retired market
Emphasize understanding of the particular needs of retirees
Promote services using awareness raising campaigns
Link to the retail bank to identify and acquire wealthy retirees
Marketing to families often focuses on intangible aspects of the service
Aim educational events at the whole family
Non-banking services targeting partners and children of clients should be an integral aspect of the overall service
Pitch the service to several families at once as part of an organized event
Chapter 3
Growing client segments in europe
Introduction
Entrepreneurs and small business owners will be the most important segment in the next five years
Social developments mean that retirees are becoming wealthier and more populous
Families are becoming more important to businesses
Chapter 4
Targeting growing segments
Introduction
Wealth managers successfully targeting entrepreneurs recognise the unique needs of this group
Combining social and business opportunities draws clients to the service while being attractive to the existing client base
Direct contact promotes the banks brand while showcasing industry knowledge
Moving to areas where entrepreneurial activity is high is an effective first step in marketing the brand to this group
Leveraging the skills of existing clients in business can generate a new wave of younger clients
Educational events are effective in reaching sub-segments and emphasizing the banks commitment to entrepreneurs
It has traditionally been difficult for wealth managers to successfully market to retirees
Few European players have a distinct strategy for targeting retired individuals
Understanding the new interests and priorities of retired individuals is key to providing a successful service
Raising awareness of the need for wealth management among retirees is an important step when marketing a comprehensive service
Using the retail arm of the bank is important when targeting wealthy retirees as many have long standing existing relationships with the bank
A holistic service is important to this segment and allows wealth managers to expand their remit
There are several strategies currently being used to target families across the generations
High-profile educational events aimed at the whole family provide a good showcase for family services
Developing the lifestyle aspect of the service with family-oriented incentives can represent commitment to serving the family
Providing family oriented entertainment events are another facet in developing relationships with the whole family
The American beauty pageant model is popular among ultra high net worth families
Chapter 5
Appendix
Supplementary data
SPP writing team
Further reading
Global Wealth Management SPP
Interactive Databases
List of Tables
Table 1: What client types offer the greatest potential in your market in the next 5 years?
Pricing:
Electronic : EUR 1814
Site License : EUR 1995
Enterprisewide : EUR 3627
Ordering - Three easy ways to place your order:
1] Order online at http://www.researchandmarkets.com/product/06f995/marketing_to_new_and_growing_wealth_segments
2] Order by fax: Print an Order form from http://www.researchandmarkets.com/product/06f995/marketing_to_new_and_growing_wealth_segments and Fax to +353 1 4100 980
3] Order by mail: Print an Order form from http://www.researchandmarkets.com/product/06f995/marketing_to_new_and_growing_wealth_segments and post to Research and Markets Ltd. Guinness Center, Taylors Lane, Dublin 8. Ireland.
Thank you for your consideration.
Best Regards,
Rachel Thompson
Senior Manager
Research and Markets Ltd
rachel.thompson na researchandmarkets.com
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