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. Employing the right digital strategies when marketing to HNW individuals can reap huge rewards.
The biggest tool for marketing yourself online is your website. If your website has not been kept up-to-date within the last three years, it is might be time for a revamp. So, what do HNW and UHNW people search for or want to see when they’re visiting your advisor’s website? Here are 5 tips to get this market looking at you!
1. Make Your Website Mobile-Friendly
Research points to the fact that most HNW and UHNW individuals are more likely to search on their mobiles rather than on 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.
2. Create and Run a Blog
Well-written blog posts should speak to an audience. Editorial articles build brand awareness while creating a story around your brand. You don’t want to write about topics that blog visitors aren’t interested in.
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.
3. Employ SEO Best Practices
As an advisor, you want to make sure your website is visible when HNWIs and UHNWIs search certain terms on Google. If these people can’t see your site or blog posts they will never see you.
To be seen, consider what keywords this group might use for searching. Known as keywords, you can strategically use them on your website and blogs to increase your search ranking. 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 compared to just “cars.”
4. Make Social Media Work for You
Research shows that affluent consumers regularly use social media platforms, with 99% visiting social media platforms daily. 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. An important part of web design is adding alternative ways to contact you besides a phone number. Try including social media where you’re active such as LinkedIn or Facebook.
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 has been found to be another popular platform for HNW individuals because of its business aspects.
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. If your firm has a commitment to non-profit organizations showcase this on your website. Doing so will resonate with affluent consumers which might make them more likely to use your services.
It’s human nature to be drawn to like-minded individuals. Emphasizing philanthropy is an efficient and easy way to get attention from HNW individuals. Try creating a separate page for your community support, like how the Scott Advisory Group does in the image below.
Editing note: This article was originally published on March 10th, 2020and has been updated to ensure consistency.
Keep in mind that building or maintaining a website is an important step to attracting clients of any type. Which makes it doubly important for high net worth client management. They want to be impressed by who they work with, and the first step to getting there is making sure your site is modern and works efficiently and effectively.
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Justin Adams Justin is a content marketing specialist who loves to cook and play with his cats. He’s also currently learning how to play guitar and piano. He’s always thinking of ways to solve problems and puzzles. He says one of his best skills is his ability to always come up with ideas and hopes to sharpen that skill as his career progresses.
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