View more on these topics

Extracting value from digital marketing

Installing high-end computers in the homes of all your clients so they have 24/7 access to your advice may seem extreme. However, for one of financial services marketing firm Goldmine Media’s clients, it was an ideal solution. This was an adviser who wanted to demonstrate the value of his services.

Goldmine Media founding owner Andrew Taylor explains: “A Jersey-based adviser had about 10 very wealthy clients and didn’t really need any more. He wanted a facility where those clients could have 24/7 access to him. So he bought Apple Mac computers, had them installed in his clients’ houses and that gave them access to him when and how they wanted. We didn’t dismiss the idea. We believe marketing is not an expense. It is an investment; the engine that drives sales.”

Goldmine Media was set up 16 years ago by Taylor, whose background is in marketing. “Initially we launched one product: a bi-monthly personalised client-facing publication featuring topical personal finance articles. Our aim was to create a publication that would provide financial professionals with a vehicle to implement six touch points throughout the year with their clients, in between annual review meetings.”

It seemed obvious to Taylor and his team that if financial professionals did not begin to engage, communicate and add more value to clients who were on these databases, some would eventually move over to the competition.

“The lifeblood of adviser businesses is clients, who will vote with their feet and go elsewhere if they don’t get the service they expect. To me it is logical that if you are an adviser and want to sell your business one day, you need a happy and profitable client base,” he says.

Today Goldmine Media is focused on achieving that happy scenario for its adviser clients. It provides print, digital, web, mobile and search engine optimisation solutions to enhance communication, raise brand awareness, develop marketing efficiency, improve client retention and increase sales.

Taylor is aware digital marketing may be alien to some advisers but says things such as websites, blogs, email and social media give clients a range of different ways to engage with them. “Clients today expect and demand a much higher level of service and communication than in previous years. These clients are increasingly using smartphone and tablet technology in their everyday lives, and by giving them access to targeted and relevant digital content it provides adviser firms with another layer of client engagement to retain existing business and create further opportunities,” he says. “The big advantage of making digital publications available to adviser clients is it is totally measurable, enabling the adviser to see who is accessing it, finding out what they are accessing and when they are coming back.”

Goldmine Media helps advisers determine what they need through a free consultation. “We follow the same process an adviser would take when carrying out a client review by completing a fact find. We identify exactly what our adviser client is trying to achieve – whether this is lead generation, client retention, PR or increased new or existing client business. Then we create a bespoke proposal that delivers on their objectives.”

Because its services are tailored to firms, Taylor says  it is difficult to provide an indication of costs. “We provide a complete fulfilment service, nothing is outsourced. We have an in-house team of editors and copywriters, a creative design studio, website programmers and designers,  and an SEO team,” he says.

The majority of Goldmine Media’s adviser clients know what they are trying to achieve but do not know how to make it a reality. “They typically look to us to explain how they should go about achieving it. But marketing strategy is an ever-moving picture so what we recommend today will need to be reviewed and adapted accordingly as things change,” says Taylor.

One feature Goldmine Media offers is a digital page-turn app, which can transform static publications into interactive digital experiences. “This application is a piece of software we developed. Uploaded to the adviser’s website and viewed on almost any device, it provides the reader with a digital page-turning experience, the same as they get when turning paper pages.”

Making the experience more enjoyable for readers increases the chances they will return, giving the adviser more opportunities to engage them and attract their business.

Taylor says “pull marketing” – the ability to attract sales and leads – is overtaking “push marketing” – trying to sell something – as the most effective way to drive new client business in the financial service industry. “With clients’ buying behaviour changing in response to the growth of mobile, social media and the web, pull marketing makes it easier and more cost-effective to drive leads and sales.”



Tesco eyes £1bn from banking arm sale

Troubled supermarket giant Tesco is considering the sale of part of its banking arm in a stockmarket listing worth up to £1bn. The Telegraph reports estimates from HSBC analysts that put the cost of turning the company around at up to £3bn, with the partial sale of Tesco Bank shares seen as an attractive option. Alternative […]


Chris Gilchrist: Act one of the life office tragedy

Life insurance companies: what are they for? I have yet to hear an answer that carries conviction for the 21st century. We have been here before. There were two previous eras in which life offices looked like joining the dinosaurs but luck and opportunism saved them. Today, life offices face another existential threat. Can they […]


BoE holds base rate at 0.5 per cent

The Bank of England’s Monetary Policy Committee has again voted to keep base rate at 0.5 per cent, the 68th consecutive month it has been held at the historic low. Members also voted to maintain its programme of quantitative easing at £375bn. Minutes from the MPC’s October meeting revealed members held off raising the benchmark […]


Pete Matthew: Budget guidance is doomed to fail

How do you eat an elephant? Cut it into small pieces, obviously. Conservationists, you can unclench now. There is a point and it is this: reducing things to bite-size chunks is good practice if you are trying to make something easily digestible. Marketers know this. Distilling the essence of a product or into a memorable […]

Guide front cover - thumbnail

Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm