China Web Activities Analysis

http://www.dcci.com.cn/List/2008-1-8/qs/00001.shtml

http://www.dcci.com.cn

industry.bnet.com/advertising/

HNW Marketing News and discussion - 5, sample marketing approach to market your HNW services to your target segments

This is a popular finanical & eduction services marketing model in Hong Kong at this moment.

The approach is trying to create an impulse selling chance by introducing customers to join some professional or interest sharing seminars and then apply impulse selling or softselling to attract your potential clients. In shorts, the marketing processes include:

1) create your potential customer awareness

• To identify your potential customers by introducing people to join the free seminars to share some public interested issue and tips like: to share the future market trend, to teach technical analysis skills, or invite some famous people to have a talk etc.
• how to do so?
• it can be easily done by using the traditional marketing means like posting different Ads via mass media including daily newspapers, magazines and TV Ads or in the MTR depending on your targetted NHW segments

2) re-affirm your customer's enquiry and interest of your service

• In the seminars, we shall try to use some soft selling approach to introduce a number of marketing messages like: what is the most unique selling proposition of your organization, if it doesn't have then it has to create some at least.
• how to do so?
• by inviting them to join your trial and promotion education seminars
• by setting membership web forum and webblog to share and chat your potential and current clients' questions and answers

3) conduct selling at the right timeprovide incentive / sales campaign at the right time

• e.g. during in the free seminars
• apply direct marketing by sending mail or email
• ask your sales agent or channel partner to do so

HNW Marketing News and discussion - 5, business Objectives

Let's sharing what is the business objectives of Mr. Frank Slevin, the Head of HSBC global banking in Asia Pac. (extracted from The Standard, today)

• increasing marketing share
• improving busiensss volume
• building customer penetrations of the businesses

How he do so to achieve thos objectives?

1) It is a crucial to understand the imperative factor of your team and the way to measure it.
"you have to establish a working platform where people enjoy what they do." , Slevin suggests it is required to identify the turnover rate within a certain period of time to understand how is your managing activities converting to your team satisfaction.

2) Redefine and position the Leadership of yourself

"Leadershiop is not about telling people what to do , but working with them and shwoing them what can be achieved. By doing so, I see myself more as a relationship manager than just a manager.", continued suggested by Slevin.

3) Taking Proactive positive approach and avoids becoming bogged down in problems and drama.

" I can't recall an obstacle that could not be soved. if you present your arguements in a sensible cogent fashion, you should get to the right answer", Slevin said.

4) recognizing the team to join the charity events

"It is crucial for staff to have consistent values with the bank, which includes giving back to the community through charity", Slevin said.

HNW Marketing News and discussion - 4, let your potential customer tell you what to do

First, you need to fully understand where are you? but how?

To echo with the discussion of the HNW Marketing News and discussion - 3, indeed CRM is a marketing term to define a collective behavior of a particular organization toward their customers.

It sounds a bit scary to be too academic over here. Indeed, if you have the figures about the average amount of revenue of your current customers, then you can properly get the most fair assessement of how well of your organization behavior toward your HNW customers in current market situation.

If you don't have the figures, it implies your org. requires some Analytical CRM capabilities before you can be able to understand how should the org to go to go. (what is Analytical CRM ability?.. let discuss about it in another posting articles)

In contrast, if you have got the figures, then you can base on the figure to assess where is your current business growing points for your NHW segment and why it grows or declines. We would suggest you proper require a SWAT analysis to undertand all the internal and external factors.

Usually different people works out different SWAT analysis chart. Thus, it would be a good exercise to ask each of your department head to draft one for you. On the other hand, you may require to ask somebody outside to a draft one for you especially your current and potential HNW customers. How to do so?

How to let your potential and current HNW customers tell you what to do?

HNW Marketing News and discussion - 3, how to get new customers

From the customer points of view to think.....
If you are very rich, and looking for some ways to manage your money, you will find a lot of service providers available from different banks, MPF companies, financial institutions or Insurance companies.

How do you pick the best one for your wealth management activities?
To look into this issue, it can be reflected by your personal preferences.

• You may count on peer experiences and ask for their opinions
• You may find your current bank is providing this kind of service so you use it
• You properly may have some friends who are the private banker, so you ask for their helps
• You may read some TV Ad or Newspaper to promote new products so you have interested to have a trial and ask for the details
• You would like to use the wealth management company which has the best performance consistently
• any other possible reasons?

For the HNW service providers, how to manage this kind of customers' expectations?

For the service providers, how to gain market share can be translated to how to get the new customers.

Based on the discussions above, how can it can be changing business opportunities? Apparently, you can find a lot of different reason which could have different approach to address in order to meet the result of getting new customers. In term of marketing wordings, it is so called Niche Marketing. Or we should say, we needs to have a dynamic and flexible niche marketing skills to catch up with the various and changing HNW customers's preference and needs.

It can be do it for HNW customers as it is costly to design and do so. However, in the dynamic markets filling with expected and unexpected market competition, customers become the KING. Thus, the profitibility of a company is reflected by how the company take care of its customers and market your customers.

A Dynamic Niche Marketing capability is a must for HNW service providers..

How we can able to do so? If we apply the theory discussed in the previous articles, we need to have some ways to

• identify the current organization position and capabilities
• think what is the desire capability (what is the degree of Dynamic and Flexibility Market capability)
• execute this market strategy
• measure how successful or failure of this strategy

Indeed, we can understand that this is the daily activities for many NHW service company already. However, you my find you need a more effective way to do so ... but how?

One of the way to enable your organization to do so is trying to co-operate into a CRM model

That's why we have CRM.

By EC-Couincil, CRM is comprehensive set of processes and technologies for managing the relationships with potential and current customers and business partners across marketing, sales and service regardless of the communication channel.

The goal of CRM is to optimze customer and partner satisfaction, revenue, and business efficiency by building the strongest possible relationships at the organization level.

We will try to continue this discussion in "HNW Marketing News and discussion - 4"

Any company which only distribute there product via Internet?

Europe's first online insurer

http://www.ineas.com/

http://hk.insurance.yahoo.com/article/11.html

HNW Marketing News and discussion - 2, how to get new customers

Nowadays, many business are struggling to look for new customers to fill up their extra business capacities?

For instance, the private tutorials are look for more student to fully utilize their premises for maximizing the profit marigin.

The usual marketing practice is trying to:

1. distribute some leaflet
2. newspaper and magazine Ads placement
3. TV Ads
4. deliver by Agents

Those marketing approaches are very effectively when the market competition is not intensive. Once more and more Ads receieved by your potential customers, your Ad effort is being diluted and the effectiveness is reduced. Gradually, you may find it is not useful for getting new customers.

You have to use some new ways

Incentive marketing is the one of the popular means to market your products and services.

To attract customer by providing some instant incentive to them is more effective than spending your marketing resource to somewhere else.

The core issues are what kind of incentive is effective and affordable for us?
Let continue tomorrow.