Having a brand identity does much more than act as a general representation of your business. It shows everything your brand values, inspires the messages you want to get across to your audience, and influences the overall perception of your brand. A strong brand is memorable because it builds loyalty and trust through an emotional connection with your audience.
One great example is the 130-year-old brand Coca-Cola. Despite the subtle changes to their brand since its premiere, the font and bright red and white colors are easily recognizable by consumers everywhere. Then there's Apple, of course. Arguably one of the best brand identity examples so far, especially since their simple logo of an apple not only presents their product as innovative and creative, but their consumers as innovative and creative when they use them.
The same can be done for your business. Here are our top branding tips for wealth management firms.
Build Social Media Engagement
You may be wondering how social media marketing makes your brand stronger. But as many experts will tell you, there's no better place to start. Branding is about building loyalty and giving your audience something (or even someone) to idolize and support. It humanizes your product and services, creating relationships and deep connections. What better place to build and nourish those relationships than social media?
Sixty-four percent of consumers want brands to connect with them on social media. Even more, 91% of consumers believe social can connect people, and 78% want brands to use social to bring them together.
This could also be a great way to reach younger audiences with your wealth management products, services, and tips. Eighty-four percent of 18- to 29-year-olds are on social, as well as 81% of 30- to 39-year-olds, 73% of 50- to 64-year-olds, and 45% of 65-year-olds and older. The key to success is researching which platforms your audience is most active on and ensuring you are just as active on the same ones.
Deploy an Email Marketing Campaign
Email marketing is another area that wealth management experts find a lot of branding success. This is because email can positively impact your brand image and identity by itself and when integrated with other marketing campaigns. How you use it ultimately depends on the goals you expect to achieve with email (i.e., sharing discounts and deals, increasing traffic to your website, introducing new blogging content to your audience, etc.).
Email has more users (more than 4.1 billion and still growing) than any other platform. It nearly doubles that of active Facebook users (2.89 billion) and even accounts for more than all the active users combined on Facebook, Instagram (1.074 billion), and Twitter (206 million). There's also a range of generations you can reach, so as long as you're taking advantage of buyer personas, buyer journeys, and segmentation — you'll see successful results.
For wealth management, you may want to take advantage of the value you can bring to current and potential clients with email. This could be through informative learning that would be useful to the buyer journey stage they're in at the time. Take, for instance, someone in the consideration stage of their journey. They would be more inclined to consider your business if you're offering factually supported and expert-advised wealth management tips for getting started.
Support a Cause
Another area of marketing that can make all the difference in your wealth management branding is cause marketing. This is where you get involved with the community by partnering with a local non-profit to increase your sales while also bringing more awareness and donations to an important cause or charity. When done correctly, it's a great way to show your support in the community and increase your brand image among consumers.
This is significant for brands today because 78% of Americans believe companies must do more than just make money; they must positively impact society as well. Also, 73% believe that a company can take actions that both increase profits and improve conditions in communities where it operates.
For Wealth Management experts, a great area to start may be with local causes that teach younger generations about finances or give financial guidance to impoverished residents in the community. The key is to find a cause that is aligned with your brand and business. The Gulf Coast Community Foundation can be a great first step to finding your fit since they're a public charity dedicated to supporting our region in many ways.
Build Your Brand with a Marketing Expert
It's no easy task building and maintaining a solid brand on the Gulf Coast, but it isn't an impossible one either. The key is to stay consistent and firm in your brand's values, beliefs, interests, and more. Using social media, email, and cause marketing will all significantly impact your brand, but it is essential to understand that branding takes time and effort. It isn't something you can do overnight. Build your brand with a marketing expert like Meredith Gulf Coast to ensure you're closely aligned with the people in our community and the causes they support.