Digital Acquisition in private banking - The Fundamental Principles

The digital era has had a profound impact on customer acquisition. In addition to automating processes, it offers significant benefits in terms of visibility and personalised experiences. SEO, content strategy, lead nurturing, and site optimisation are the four key principles for implementing a highly effective strategy.

Lucile Cottard, Digital Acquisition and Marketing Manager, recently featured in the March issue of Sphere magazine in french and german (p.88).

Today's digital solutions have revolutionised marketing strategies. Previously, it was necessary to actively seek out customers, but now you can bring them to you. This is what we call inbound marketing, operating in a pull mode rather than the traditional push mode. Websites, search engines, and social networks act as fuel for inbound marketing efforts. Programs used in this context are designed to capture the attention of potential customers online and direct them to the bank's or asset manager's website based on their search queries. This creates an initial lead, a first contact that opens a relationship that can then be developed through ongoing interactions. Content also plays a pivotal role in these systems, enabling visibility on search engines or social networks and engaging prospects based on their interests. Once leads are qualified, content is used to nurture relationships and convert prospects into customers, a meticulous yet essential task. Two years ago, our lead database consisted of Excel files. Since then, we've embarked on a digital transformation journey, automating numerous processes, enhancing the usability of our marketing contact database, and increasing visibility through content.

SEO-SMO Referencing

If you want to strengthen your online presence and showcase your expertise, there are two things you can do today: SEO (Search Engine Optimization) and SMO (Social Media Optimisation). With a good SEO strategy, the site ranks higher in the search engine's organic results, based on keywords that outline the initial scope of the offering. The site then appears in front of potential clients looking for information on various aspects of asset management.

Today, it’s unthinkable not to include SEO in an online marketing strategy. The principles are slightly different for SMO. While SEO focuses on keywords and, to a certain extent, the length and relevance of the content, SMO works through viral posts shared within a community of interest.

For both SEO and SMO, there are organic channels and paid channels. Google has Google Ads. LinkedIn has its own set of tools to reach its audience through paid marketing campaigns: Sponsored Content, Text Ads, Dynamics Ads, or Sponsored Messaging (InMail)

Marketing Content

Marketing content’s main purpose is to attract Internet users and potential customers, in the most targeted way possible, which also sustains SEO and SMO efforts. The content should also highlight experts, their field, and the consistency of the value proposition in terms of financial asset management and, more broadly, wealth management. For example, annuities, financial planning, and mortgages all fall under this umbrella. When properly organised, content acts as a lever. It triggers action, from visits to actually contacting an advisor. It must follow a customer-centric logic, addressing topics relevant to users' searches and providing answers to their questions.

Therefore, a semantic cocoon is established from the keywords regularly typed into search engines. Subsequently, content streams are personalised once users voluntarily identify themselves on the site, for example, by subscribing to a newsletter or webinar. Their search queries organise information so that it's tailored to their needs. The content, whether in print, podcast, or video format, can include different areas of expertise, educational modules, newsletters, market analysis, or tutorials. Crucially, it should address pre-existing requests and streamline subsequent automation processes.

Lead nurturing

This is perhaps the most delicate phase of an inbound strategy: taking a prospect and fostering a relationship that makes them want to make physical contact with us, such as asking for a meeting. This is a long-term process. It can easily take twelve months to two years to turn a prospect into a customer. Therefore, it's crucial to anchor the relationship with highly relevant interactions centered around content aligned with their interests. Personalising communications with inbound contacts is key. It’s essential that the information we send out—whether be it emails, newsletters, or webinar invitations—resonate with the needs expressed by prospects and respect the boundaries they've set themselves.

Website Optimisation

Customer acquisition is part of the marketing strategy, and the website is a big part of it. Gone are the days when a website merely served as a digital storefront with basic functionalities. Today, it serves as a cornerstone, essential for supporting organic search engine optimisation efforts. Consequently, websites must be meticulously structured and optimised to ensure seamless content consumption, making the transition of new visitors into regulars a seamless experience.

Upstream, the website must support search engine optimisation efforts. Downstream, it should impeccably showcase experts, their areas of expertise, and the value they bring, with a strong interactive dimension and formats conducive to immediate sharing on social networks. At this stage, since we’re no longer talking about a "peripheral" but a "core" engine, it is best to work with specialised agencies that have mastered site design but are also capable of dealing with more technical aspects such as SEO, SMO, content management, and database management.