Due to the cultural differences at home and abroad, Newsletter, a tool that is very popular abroad, is really unsuitable in China. However, the author believes that when brokerages operate against their key customer groups, that is, high-net-worth customer groups, they can consider this anti-trend communication method, and the effect may be better.
In the era of information explosion, people are surrounded by various social media and algorithmic recommendation platforms, and access to information has become more convenient than ever. This convenience also brings problems such as information overload, content homogeneity, and user privacy. Especially in the financial industry, it is the place where there is no shortage of hot spots and information, and the capital market is full of various topics, hot spots and concepts every day. In the face of the press-filled information network, receiving news from various information platforms, stock trading software and financial management platforms, investors are caught in endless chasing and anxiety, for fear of missing any important information or favorable policies. However, in terms of investment effect or performance, it seems that they are getting farther and farther away from their desired goals, and they are miserable!
In this context, a seemingly anti-trend communication method - Newsletter, is gradually "revival", the author believes that this may become a powerful tool for brokerages to operate against their key customer groups, that is, high-net-worth customer groups. Here, we briefly discuss the features and advantages of the newsletter and how it plays a role in the operation of high-net-worth clients of brokerages.
Features and Benefits of Newsletter:
A newsletter, also known as a newsletter, is a form of communication that sends content to subscribers on a regular basis via email. Compared to social media and algorithmic recommendation platforms, Newsletter has several features and advantages:
- Personalization and depth: The content of newsletters is often personalized by the creator or organization according to the interests and needs of subscribers, providing more in-depth and professional information and insights. This kind of personalized content can meet the needs of high-net-worth clients for in-depth content, while social media and algorithmic recommendation platforms pay more attention to the breadth and timeliness of content.
- Interaction and feedback: Newsletters can interact and give feedback to subscribers, understand their needs and opinions, and provide more accurate services. This interactivity is lacking in social media and algorithmic recommendation platforms, which tend to be a one-way channel for content distribution. With a newsletter, you can create a closer, more direct connection with your readers.
- Noise vs. focus: Newsletters have relatively little content, which reduces information overload and distractions, allowing subscribers to focus on valuable information. In contrast, social media and algorithmic recommendation platforms have rich and diverse content, which can easily trap users in a sea of information. The content of the newsletter is more concise and valuable.
- Creator-led: The content of the newsletter is creator-driven, with the freedom to choose the theme, style, and expression of your choice. In contrast, social media and algorithmic recommendation platforms are algorithmically determined by the content of creators, and creators need to adapt to the platform's rules and algorithmic preferences, while newsletters give creators more freedom and space.
The current situation of the operation of high-net-worth clients of brokerages
Since the development of the financial industry, high-net-worth customer groups have become the main group served by various institutions, and according to the 28 rule, this part of the group has contributed the most to the income generated by brokers, of course, the service resources invested by brokerages, especially offline service personnel, are also the most. Specifically, brokerages generally adopt the following methods for the operation of high-net-worth customers:
- One-to-one service: Provide high-net-worth clients with a dedicated account manager to provide one-to-one services, including business handling, investment consulting, asset allocation, post-investment management, etc.
- Offline activities: Organize various offline activities, such as strategy reports, investment seminars, high-end forums, etc., to provide high-net-worth clients with opportunities for communication and learning, and also start to establish some small circles with significant clustering effects.
- Customized products: Based on data insight and customer portrait capacity building, we customize exclusive financial products and services for high-net-worth customers according to their needs and risk appetite.
- Value-added services: In addition to providing standard financial products, we also provide a variety of value-added services, such as tax planning, legal consultation, health management, etc., for high-net-worth and high-income-generating customer groups, so as to improve customer experience and satisfaction in an all-round way.
In the midst of the environmental changes of the wave of financial technology, the improvement of customer experience requirements, and the diversification of customer service needs, with the diversification of information acquisition methods and the continuous change of customer needs, the traditional operation mode has become unable to better meet the needs of high-net-worth customers. Therefore, brokerages need to find new operational tools and ways to improve customer experience and investment satisfaction.
Prospects for the application of Newsletter in the operation of high-net-worth clients of brokerages
As an effective communication tool, newsletters may become a new weapon for brokerage high-net-worth client operations. Specifically, Newsletter can help brokerages bridge service gaps, deepen trust links, and achieve the following goals:
- Building a relationship of trust: By regularly sending valuable information and research reports, brokerages can establish a relationship of trust with high-net-worth clients based on professionalism and services. Compared with social media and algorithmic recommendation platforms, the content of newsletters is more professional and reliable, which can increase customers' trust in brokers.
- Provide in-depth financial insights: Newsletters can provide high-net-worth clients with market analysis reports and investment strategy suggestions that are customized by the company's research institute or investment advisory department, with stronger professional attributes and more in line with the needs of clients' positions and assets. These contents can help clients make more informed investment decisions and achieve wealth preservation and growth.
- Enhance interaction and feedback: Through the Newsletter to interact and feedback with high-net-worth clients, brokerages can understand their needs and pain points, which is not simply the behavioral interaction emphasized in the so-called digital operation in recent years, but more based on the wealth management or investment content itself. This interactivity can enhance customer experience and satisfaction, while also providing brokerages with opportunities to improve their content, products, and services.
- Protecting customer privacy: The content and data of the newsletter are in the hands of the broker and will not be misused or leaked by third-party platforms. Social media and algorithmic recommendation platforms are at risk of user privacy leakage, which is especially important for high-net-worth clients in the financial industry who emphasize data security and who pay attention to user privacy.
Characteristics of high-net-worth clients in Chinese mainland
In Chinese mainland, high-net-worth clients usually have a high level of education and an international background. They have more ways to obtain information and communicate with each other, and they also have higher requirements. Compared with social media and instant messengers, email may be preferred by some high-net-worth clients as a formal, professional and private means of communication.
In addition, the high-net-worth client base in Chinese mainland also presents some unique characteristics. For example, they have a more pressing need for wealth inheritance and risk management. Therefore, when brokerages operate high-net-worth clients, they need to provide corresponding products and services for these characteristics.
In addition to newsletters, what other high-net-worth clients operate?
- Social media operation: Interact and communicate with high-net-worth customers with the help of tools such as WeChat, live broadcast, and community to provide valuable information and services.
- Client Club: Establish a client club to provide exclusive services and benefits to high-net-worth clients, enhancing customer stickiness and loyalty.
- Big data analysis: Using big data analysis technology, we analyze the basic attributes, account characteristics, behavioral performance and risk appetite of high-net-worth customers, and provide personalized products and services.
- Artificial intelligence application: Artificial intelligence technology is used to provide high-net-worth customers with robo-advisory, intelligent customer service and other services to improve customer experience and satisfaction.
In the author's opinion, as an anti-trend communication method, Newsletter has the advantages of personalization, depth, and interaction, emphasizing that content is king, returning to the origin of the industry in serving customers, and can become a new weapon for the operation of high-net-worth customers of brokerages. Especially among high-net-worth clients in Chinese mainland who value privacy and professional communication, the application prospects of Newsletter may be broader in the future.
It is worth mentioning that in the digital era, in addition to Newsletter, brokerages can combine the other operations mentioned above to provide high-net-worth customers with a full range of personalized products and services to improve the overall satisfaction of customers. Whether it's a newsletter or any other way of operation, the key to improving customer experience and satisfaction is to continuously provide customers with valuable investment information and financial services.
This article was originally published by @数金杂谈 on Everyone is a Product Manager. Reproduction without the permission of the author is prohibited
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