Monday, December 31, 2007

Financial Services Marketing Handbook

Financial Services Marketing Handbook

by Evelyn Ehrlich and Duke Fanelli
Bloomberg Press, 2004

Some reviews

"The Financial Services Marketing Handbook is an ambitious, encyclopedic resource for bank marketers. It covers a lot of ground and is easy to digest. Experienced marketers can consider it a refresher course... There are many useful tables that distill essentials [and] practical checklists to help jumpstart strategies. The authors cover a lot of ground... managing to bore down deep, despite touching each topic only briefly... Ehrlich and Fanelli's painstakingly detailed analysis reads like a transcript from a meeting with an experienced, down-to-earth marketing consultant...The sheer volume of material covered by these marketing mavens is daunting. But it's presented concisely and is easy to follow."
USBanker, January 2005

"Before describing what marketing tools and techniques to use, the Handbook takes us through a strategic planning exercise...designed to build brand awareness, profile and attract new clients....The book concludes with a 40-page appendix focused on helping financial product and service sales professionals translate the marketing principles and tactics described [in the book] into their practices....Advisors will definitely benefit from the book."
"Effective Marketing for Greater Sales," by George Hartman in Investment Executive, April, 2005.

"Marketers who understand the complex and rapidly changing financial services industry are rare and increasingly in demand. The Financial Services Marketing Handbook is a unique and invaluable training tool for beginners that also offers new insights to veteran financial marketers."
Andrea Trachtenberg
Senior Vice President, Head of Global Marketing
Lehman Brothers Wealth & Asset Management

Financial Services Marketing Handbook
Table of Contents

The Unique Challenges of Marketing Financial Services
Products or Services?
• Financial Services as Products
• Financial Services as Services
• Service Is What It's About
Marketing Money Is Different
• Psychology of Money
• Third-Party Relationships
• Multiple Sales Channels
• How End Users Select a Financial Services Provider
• Cost Doesn't Matter Very Much
• "Stickiness" of Money Decisions
• Legal and Regulatory Constraints
• Successful Financial Marketing

Part I: Strategic Marketing Planning
Chapter 1: Segmentation
• Learning from the Consumer Side
Choosing Target Segments
• Methods of Segmentation
Objective Methods of Segmentation
Segmentation by Psychographic Clusters
Customer-Value Segmentation
• Finding Your Target Segments
Identifying Current Market Segments
Chapter 2: Positioning and Branding
• Positioning
Determining Positioning Strategy
• Branding
Creating a Brand Image
"Borrowing" a Brand Image
Supporting a Brand Image
Repositioning and Rebranding
Chapter 3: The Market Plan
• Types of Marketing Plans
• Researching Your Plan
Quantitative Market Research
Qualitative Research
• The Elements of the Plan
The SWOT Analysis
Competitive Analysis
Marketing Objectives
Implementation Tactics
Choosing Tactics
Metrics to Track and Measure Success
Section II: Marketing Tactics
Chapter 4: Media Advertising
• Media Selection
Print Advertising
Choosing the Right Publication
Print Buying Decisions
• Advertising Effectiveness
Creating Effective Creative
• Legal and Regulatory Considerations
• Field Advertising and Co-op Programs
Chapter 5: Public Relations
• Third-Party Endorsement
• The Tools of Public Relations
• Public Relations for Every Budget
• Getting Press Coverage
• Dealing with Bad Press
Chapter 6: Sponsorship and Event Marketing
• What Is the Value of Sponsorships?
• Cause Marketing
• Activating a Sponsorship Program
Planning to Maximize Sponsorship Value
Measuring the Effectiveness of Sponsorship
Chapter 7: Direct Marketing
• Techniques and Goals of Direct Methods
Finding the Best Lists
Factors Affecting Direct Mail Response
Getting Past the Gatekeeper
Dimensionals, Premiums, and Other Gimmicks
• Elements of the Package
• Telemarketing
• Regulations Affecting Direct Marketers
Chapter 8: The Internet
• The Internet as One Channel among Many
• The Internet as a Marketing Tool
Improving Website Usability
• Website Content
Company Information
Educational Information
Customer Service
Sales Support
Relationship-Based Marketing
Customer Acquisition

Chapter 9: Personal Selling
• Traditional Relationships between Sales and Marketing
"Bottom-Up" Marketing
Third-Party Sales
High-Net Worth Sales
Institutional Sales
• Changes in the Sales Distribution Model
How Sales Can Help Marketing Help Sales
Chapter 10: Trade Shows and Seminars
• Trade Shows
Breaking through Booth Clutter
Following Up Leads
Measuring Results
• Seminars
Marketing the Seminar
During the Seminar
The Presentation
Follow-up: The Key to Success
Measuring Results

Chapter 11: Relationship Marketing
• Why Customer Retention Matters
• Methods of Relationship Building
• Formal Loyalty Programs
• Client Publications

Appendix: Applying Marketing Principles to Sales Practices

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