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.”