Brent Feigenbaum has been Chief Marketing Officer of J.E. Robert Companies, Director of Global Marketing Communications for GE Real Estate and Vice President, Global Communications Director, The Citigroup Private Bank.
“The rich are different from you and me,” wrote F. Scott Fitzgerald. The wealthy may be different from you and me, but they are also different from each other. When marketing financial services to the affluent, one cannot look at the group en mass. Marketers need to understand the target’s personality and individuality, and then focus on a few key factors to develop a relationship.
Breaking through the clutter in a commoditized market
Today, most financial institutions offer similar products and services. Banking has become largely commoditized. Traditional marketing activities are still effective but will not necessarily cinch the deal. Advertising can raise an institutions’ profile, while Public Relations, if managed properly, can showcase key individuals and demonstrate an institution’s expertise. Websites, social media and brochures can all work to reach the target audience and define the financial offering and company positioning. (more…)
