MarketingFabric

Looking at the data for hundreds of financial companies, one thing is clear; the most successful ones spend time, money and energy on marketing to their current customers. They understand that it is not sustainable to lose one customer for every customer gained, and their client base reflects this.  These companies also understand that by making one customer twice as profitable they have in effect gained a new customer, without the acquisition cost. However, this is a rather uncommon situation for many.

Accepting that it is important to keep current customers, and improve their profitability, we need to ask ourselves how to remedy the situation.

In online trading, customers that generate below average commissions are usually single asset class clients that make few trades. For funds and money managers it’s customers that have funded with a low share of wallet. Common sense so far. Where it gets difficult is what to do about it, and how to do so in a scalable and low touch way.

A big part of the puzzle is education & support.  When clients feel they have the information they need, at the time they need it, they feel more comfortable in dealing with your company – resulting in better results.

MarketingFabric can produce a tailor-made educational- and cross selling program that will delight your clients and colleagues alike. Plus, we will cut  time spent on support by eliminating questions before they even come up (imagine an email sent about stop loss orders a moment after executing a trade without one) . By streamlining the process of getting personal support we will even make sure your customers get help faster. It is a true win-win situation.