If you want to target HNW (high net worth) and UHNW (ultra high net worth) individuals, what are the best strategies to attract these clients? These people want value and are willing to pay for it. A recent report by PwC found that 98% of HNWs access the internet daily, with affluent consumers spending up to three hours of their personal time online every day. So, employing the right digital strategies when marketing to HNW individuals can reap huge rewards. Your biggest tool for marketing yourself online is your website, so make sure it is an asset and not a liability. If your website has not been totally revamped in the last three years, it is likely to be out of date. So, what do HNW and UHNW people search for or want to see when they’re visiting your advisor website? Here are 5 tips to get this niche market to notice you.
Tip #1: Be Mobile-Friendly
Research points to the fact that most HNW and UHNW individuals are more likely to search on their mobiles rather than a desktop. Because they frequently travel and are on the go, mobile-search is much more convenient for them. HNW individuals possess a high level of digital literacy- based on the PwC report “HNWIs and Digital,” 85% of HNWIs use more than three digital devices. If you want to attract HNW and UHNW clients, you need to ensure that your website is mobile-friendly. The graph below highlights that HNW individuals are both confident and enthusiastic about using technology here in North America and in Europe.
Because this niche widely uses technology in their daily lives, over half of HNWIs believe it is important for their financial advisor or wealth manager to have a strong digital offering. So, being mobile-friendly isn’t an option, it’s basically a requirement.
Tip #2: Have A Blog
Well written blog posts that truly speak to this audience, in addition to well researched and in-depth editorial articles, are a great way to build brand awareness while creating a story around your brand. You don’t want to write about topics that these affluent individuals aren’t interested in. So, the question is what topics resonate with this audience? HNW individuals are interested in a variety of things including estate and tax planning, wealth management advice, family governance advice, and philanthropic planning. In fact, 90% of this group has given to charity, compared to 56% of the general U.S. population. Focus your blogs and editorial articles around these topics in order to get the most attention.
Tip #3: Employ SEO Best Practices
Obviously, you want to make sure your website is visible when HNWIs and UHNWIs enter search terms into Google that relate to your services. If these people can’t see your website and your blog posts, they will never see you. In order to be seen, you need to consider what keywords this group searches for on the internet. Once you know these keywords, you can strategically use them on your website and blogs, increasing the chances of showing up in their search results. Contrary to what you may believe, HNW and UHNW individuals don’t really search for “luxury” or “expensive.” So, for example, saying luxury cars in your blog will make no difference than if you just said cars.
Tip #4: Make Your Social Profiles Visible
Research shows that affluent consumers regularly use social media platforms, with 99% visiting social media platforms and spending close to 90 minutes per day on them. So, make sure you are not only adding social icons to your website but you’re also having an active presence on the platforms that matter most.
If you don’t have a presence on social media yet, consider which social media platforms will work best to target HNW individuals. Just like for the average consumer, the most popular social media platform for HNW and UHNW individuals is Facebook. LinkedIn is in second place, and Linkedln found that two-thirds of HNW individuals visited LinkedIn monthly, using it as a resource for investment research.
Tip #5: Include A Community Page
You are probably aware that many high net worth families are extremely engaged in charities and community service groups. As mentioned earlier, 90% of these individuals have contributed to a charity. So, if your firm has a commitment to certain nonprofit organizations and has a commitment to do good in the community, showcase this on your website. This will really resonate with affluent consumers and they will be more likely to use your services. Its human nature to be drawn to individuals that are similar to you, so emphasizing your philanthropy is a really great and easy way to get attention from HNW individuals. You can create a separate page for your community support as done by Scott Advisory Group in the picture below.
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About the author
Namisha is a Content Creator at Twenty Over Ten, passionate about fostering community growth. A Bollywood enthusiast, she loves to travel and hopes to experience all seven wonders of the world.