Savings and investment providers can no longer rely on any type of customer to be loyal, and this is having a significant impact on marketing strategies, suggests new research.
A survey of asset management firms, fund supermarkets, stockbrokers and full service financial providers by IFAonline’s sister publication, Financial Marketing, suggests firms are having to work harder on both retention strategies as well as looking further afield for the next generation of customers.
Interviews for the Incisive Insight report were designed to reveal financial services providers’ strategies in converting mainstream consumers into first-time investors, with the emphasis on execution-only services.
Main findings of the research point towards a gradual change in thinking on the part of most companies as many representatives “were quick to say that they did not have any explicit offers or campaigns to attract first-time investors”, but further investigation unearthed a host of sub-strategies which ultimately indicate a positive shift in thinking.
Some of the strategies applied to attracting first-time investors include:
Copies of the report cost £199 and can be obtained by contacting [email protected].IFAonline
Latest news and analysis
And vote now for Best Service award
Impact of rates
10 years in financial advice
Fidelity's Multi Asset investment team answer two key questions about the rise of multi asset investing