Financial Services are a Magnet for Attention
Financial services are the world’s largest industry. Estimates put the sector at around a quarter of world’s wealth. As such, the level of investment thrown at acquiring a piece of this pie is astronomically large. And with vast amounts of investment comes a vast amount of activity.
The majority of this activity is directed towards the B2C market. Fund managers, investment platforms, insurance companies, and fintech providers – are all looking to attract their ideal client with a low cost of acquisition. The calculation is quite simple: if a marketer can attract a client with a cost of acquisition lower than the average revenue per client, there is a business case. The predictive nature of this type of marketing means it has attracted around two thirds of every B2C marketing dollar.
With the focus so strongly on B2C, most content strategies aim to be clear, friendly, and simple. And for all the effort that goes into acquiring the B2C market, it only controls around 50% of the serviceable market.
Large Opportunity but Difficult to Access
The other 50% of the market is controlled by financial advisers. One of the less endearing terms we’ve heard used over time is ‘the intermediary market’. As if to describe the role of an adviser as simply an extra step in the process to arrive at an ideal outcome. This adviser to client – or B2B2C model, comes with its own customs, its own vernacular, and its own nuance. Advisers are not looking for clear, friendly, and simple. They don’t respond to ‘good copy’. Advisers can sense positioning from someone unacquainted with advice a mile away, and allocate motherhood statements with essentially zero attention.
As such, the traditional solution has been to send in the BDM. But in an ever-growing digital world, the ability to form relationships over a Zoom call is difficult. Two and a half years ago it was reasonable for a BDM to park their car in the city at 7:30am and have six meetings set up for the day. This strategy is now tenuous. Advisers are busy, with many demands on their time and attention. More than ever before they are becoming hard to reach – but not impossible. Advisers seek advice from those who have been there before. It’s here we help our financial services clients the most.
Our Secret Sauce – Content Specialists
XY is lucky enough to work with some amazing individuals we call Content Specialists. These Content Specialists are not easily found. Where can you find someone who understands financial advice, understands how to research, and can turn everything into pieces of education which provide something unique to financial advisers? We know how hard they are to find because we spend our time trying to find them. But the truth is, our Content Specialists are what gives XY our unfair advantage in the market. They help our clients to:
- Convert customer marketing material into content appropriate for advisers
- Look for relevant adviser created content on the topic to ensure positioning is correct
- Find and approach relevant financial advice experts to draw out compelling responses
- Interpret and reposition existing research for advisers to find relevant
To access this unique set of services, and discuss with us how we can help you create relevant material for financial advisers, please feel free to reach out here.
