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Selling Financial Services From ATMs, DDAs and credit cards to commercial banking, asset management and financial planning, we have devised, directed and created more than 1,000 campaigns for financial products over three decades. We've worked with mutual funds, diamonds and investment newsletters and virtually every product in banking. Our experience includes "unselling" low-rate mortgages in a high-interest environment, promoting seminars for mergers & acquisitions and generating sales leads for commercial business development programs, from small business targets to middle market and corporate clients. We've even taken a client public (without an underwriter) using direct mail! Establishing the allowable cost of acquisition as a basis for budgeting a campaign is the first step. Lifetime Customer Value (LTCV) is more than a measure of what you can afford to pay for new customers. It's usually a reliable guide to prospects' sophistication level. If they're worth more, you'll probably have to spend more to attract them. While some financial products have become commodities, cultivating customer relationships that involve any degree of fiduciary responsibility requires more than a command of the financial language. People remain sensitive about their money (or needs therefor) and must be approached in a manner consistent with their expectations. Insult their dignity or violate their expectations and you not only risk a depressed response, you increase the chances of attracting an irresponsible customer. People read between the lines of advertising copy and make decisions based on emotion...as much because of what they don't understand about finances as what (they think) they do know. Whether appealing to greed or peace of mind, our goal is to make emotional contact with the potential client/customer...in a way that begins laying the groundwork for retention as well as cross-selling of other services right at the outset. Rather than "selling to them," we look for ways to help them see our product as a solution for their needs. Do you have problems differentiating your financial product communications in today's highly-competitive marketplace? We may be able to help. Give us a call to discuss your needs, There's no obligation of course. |
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