Serve First, Sell Later Marketing
Serve First, Sell Later Marketing
#48 How To Market To High Net Worth Clients
In this episode of the Serve First, Sell Later Marketing podcast, host Sylvia Garibaldi explores the intricacies of marketing to high net worth clients. She discusses why traditional marketing techniques often fall short with affluent individuals and offers actionable strategies to refine brand positioning and value propositions. By emphasizing exclusivity, privacy, and sophisticated solutions, Sylvia shares how professionals can position themselves as trusted advisors and attract high-value clients. Learn how to leverage social media, develop thought leadership content, and build strategic networks to resonate with this elite audience.
Resources mentioned:
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Key Takeaways:
- Understand the unique needs and priorities of high net worth clients to tailor your marketing strategies effectively.
- Emphasize exclusivity, privacy, and sophisticated solutions in your brand positioning.
- Create a strong online presence that reflects your expertise and aligns with high net worth clients' expectations.
- Develop thought leadership content, such as e-books and white papers, to showcase your expertise.
- Utilize platforms like LinkedIn for strategic networking and to engage affluent audiences.
Episode Chapters:
- (00:00) Attracting High Net Worth Clients: Learn the strategic approaches necessary for engaging high net worth clients and refining brand positioning.
- (08:05) Value Proposition: Discover the importance of exclusivity, privacy, and sophisticated solutions in attracting affluent clients.
- (14:35) Leadership Content and Strategic Networking: Explore the development of thought leadership content and strategic networking to engage high net worth clients.
- (27:58) Serving High Net Worth Clients: Understand how to address the unique needs of clients who prioritize privacy and wealth protection.
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00:00 - Sylvia (Host)
Hello everyone, and welcome back to episode number 48 of the Serve First, sell Later marketing podcast. I'm your host, sylvia Garibaldi, and today I want to talk to you about a challenge that many skilled professionals face, and it's really all about how to attract and retain high net worth clients.
01:58
Now, many of you listening to this podcast are probably accomplished lawyers, mediators or divorce professionals and, let's face it, your expertise is unquestionable. Your track record is impressive. Yet you find yourself wondering how to connect with those high value clients who could truly benefit from your expertise. So it is a common problem and one that really requires a thoughtful, strategic approach. So in this episode, I'm going to be really going deep about what are the practical, effective strategies that you can use to elevate your practice and start attracting those clients that you're really best equipped to serve. So I hope you find this episode valuable. Whether you're looking to refine your current approach or you want to completely overhaul your marketing strategy, I'm going to be offering you insights to really help you reach these goals.
02:49
So let's talk about understanding your target audience, specifically high net worth clients. So this isn't just a box ticking exercise. It's the cornerstone of your entire marketing strategy. But here's the thing Marketing to high net worth individuals is a completely different ballgame. So if you're using the same approach that you'd use for your regular clients, you're likely missing the mark, and this is what we see a lot of professionals doing. So these clients have unique needs. They have concerns and expectations that really set them apart from the general population, and if your marketing doesn't reflect that, you're essentially invisible to them.
03:37
So who are we talking about? We're looking at successful business owners, c-suite executives, individuals with significant inherited wealth, people whose assets often run into the millions. Remember, it's not just about the numbers in their bank account. It's about their mindset, their priorities and the complex challenges that they face. Now here's where you need to shift your thinking, because the concerns of a high net worth individual are often vastly different from those of your average client. They're not just worried about winning a case. They're concerned about protecting vast and complex assets, maintaining privacy in high profile situations and really safeguarding their legacy for the generations to come. So, for example, in a divorce case, they're not just dividing a house and other assets. They might be dealing with multiple businesses, international properties or complex investment portfolios. In estate planning, it's not just about writing a will, as you know. It's about sophisticated tax strategies and multi-generational wealth transfer.
04:49
So this is what I need you to understand that these nuances are critical, because it should fundamentally change how you communicate with these clients. So what does this mean? This means that your marketing messages need to speak directly to these sophisticated concerns, because generic advice won't cut it. It won't resonate with them. So you need to demonstrate that you understand the intricacies of their situation and that you have the expertise to navigate them. So this means rethinking everything from your website content to your social media posts, to the topics of your thought leadership posts and articles. And so are you addressing the specific pain points of high net worth individuals? Are you showcasing your expertise in handling complex, high-stakes cases? Because, remember, these clients are often well-informed and they have likely done their research and their homework, and they're not looking for just any professional. They're seeking a trusted advisor who can operate at their level and anticipate their unique needs. So there's a big difference there. And anticipate their unique needs, so there's a big difference there. So, by truly understanding and speaking to the specific concerns of high net worth clients, you automatically position yourself as the go-to expert for their complex needs, and so this deep understanding should inform every aspect, as I've just said, of your marketing strategy, helping you draft messages that resonate and attract high value clients that you're aiming for.
06:31
So I want you to take a moment and really think about your ideal high net worth client. What are their specific challenges? What keeps them up at night? How can you demonstrate that you're uniquely qualified to address these concerns? And I think getting this right is your first step in transforming your marketing to attract high net worth clients, so that you can build the practice that you are most excited about.
06:58
So let's dive into brand positioning for the affluent clientele. So this is where we take what you've learned about high net worth audience and translate it into a compelling message that resonates with them. So let's talk about crafting a unique value proposition. So, for affluent clients, it's not just about what you do, but how you do it. So, as a divorce mediator, for example, you're not just helping couples separate assets. You're offering a discreet, sophisticated approach to preserving wealth, maintaining family harmony and privacy during this very challenging time, all outside of the courtroom. So if we take the example of an estate planning attorney, your value proposition might focus on creating bespoke legacy plans that protect wealth across generations, not just drafting standard wills and trusts, because that's not what they need, right? It's about positioning yourself as a strategic partner in their long-term financial and family planning.
08:05
Now, now I want to emphasize here the three key elements that really matter to high net worth clients, and that is exclusivity, privacy and sophisticated solutions. So exclusivity is crucial, right? These clients want to know that they're getting access to services and expertise that aren't available to everyone. This doesn't mean being elitist, but rather highlighting your specialized experience with complex, high value cases. You might mention that you only take a limited number of clients each year to ensure personalized attention. Take a limited number of clients each year to ensure personalized attention.
08:45
Privacy so privacy is often another top concern for affluent clients, and so, as a divorce mediator, you could emphasize your ability to handle sensitive matters outside of the public eye, protecting reputations and business interests and I'm sure you can understand how important this is to affluent clients, particularly when they have multiple businesses and high net worth is at stake For estate planners. You could stress your discretion in managing family wealth and your strategies for maintaining confidentiality in estate transfers, for example. And lastly, sophisticated solutions. So high net worth clients they often have, as you know, complex needs that require creative, multifaceted approaches. A divorce mediator might highlight their experience in dividing diverse asset portfolios, including businesses and international properties. An estate planning attorney could focus on their ability to navigate complex tax laws and create intricate trust structures.
09:58
So what I want you to remember from this is that your brand positioning should reflect in everything that you do, from your website content to how you conduct initial consultations. It's all about consistently communicating that you understand the unique challenges and priorities of these high net worth clients. So take a moment now and think about how you can refine your value proposition to speak directly to the needs and concerns of these affluent clients in your specific area of expertise. Okay, let's look at your online presence to attract high value clients. So let's start with your website, which is often the first impression potential clients have of you, so it really needs to be spot on. You really need to create a high-end website that truly reflects your expertise, and this isn't about flashy graphics or gimmicks. It's about crafting a sleek, professional site that communicates your value from the moment someone lands on it. So think clear design, easy navigation and content that speaks directly to the concerns of affluent clients. So, for example, if you're a family law attorney, your homepage might feature a tagline such as protecting your legacy.
11:20
In high-stake divorces, an estate planning lawyer might lead with sophisticated wealth preservation strategies for high net worth families. So do you see how these headlines immediately signal to the visitor that you understand their unique needs? Remember, these clients often do extensive research before they actually reach out. They might be searching for detailed information on complex legal issues, and so by creating in-depth, authoritative content on these topics, you not only improve your search rankings, but also demonstrate your expertise to potential clients.
12:01
So building an online presence for this market isn't just about being visible online. It's about creating a digital experience that really aligns with the expectations and needs of your high value target clients. So, for example, if you're a divorce financial analyst, you need to think about does your website demonstrate that you deal with high net worth clients and the complexity of their assets? Does your website demonstrate that? Does your social media content talk about that? So these are all the sorts of things that you need to really look at to ensure that your online presence reassures them that you're not just any professional. You're actually the expert who can handle their unique, complex situations with. You know sophistication and the discretion that they desire. So my recommendation would be to think about your current online presence and really just ask yourself does it truly reflect the high caliber service that you offer? Are you effectively communicating your unique value proposition to affluent clients through your digital platforms? And these are critical questions to consider as you work on attracting more of the high net worth clients to your practice.
13:19
So I want to now switch gears a little bit and talk about the content marketing strategies that will position you as the go-to expert for high net worth clients. And I have to talk about this because when I do social media audits and I go onto the platforms of different service-based professionals in the legal, mediation and divorce spaces, they talk about how they work with high net worth clients, and when I go to their LinkedIn profile and their tagline or their profile headline may say that they work with high net worth clients, and as I scroll through their LinkedIn profile and I look at their social media posts, guess what? I don't see anything that talks about how they deal with high net worth assets or high net worth situations for these types of clients. It's all about generic information, and so there's a huge disconnect there. So if you are one of these professionals who claims that you work with high net worth clients. I urge you to look at your social media and decide for yourself whether, in fact, you are talking about high net worth issues that potential clients could see value in. So this is why I want to talk about this right now.
14:35
So I want you to think about developing thought leadership content. So this is your opportunity to showcase your expertise and your unique insights. So, for example, once again, if you're a divorce mediator, you might write a post on protecting business assets in high net worth divorces. If you're an estate planning attorney, you could create a piece on advanced strategies for minimizing estate taxes in large inheritances. So the key here is to tackle complex topics that your affluent target audience is struggling with. So remember, this content isn't just for your website. Consider guest posting on respected legal or financial publications. This not only could expand your reach, but also it could boost your credibility in the eyes of potential high-value clients.
15:26
So let's talk about creating high-value resources like e-books and white papers, otherwise known as lead magnets. So these in-depth pieces allow you to really dive into complex topics. So, for instance, a family law attorney might create an e-book titled the Executive's Guide to Navigating High Asset Divorce, and a state planner could offer a white paper on sophisticated trust structures for multi-generational wealth transfer. So do you see how these resources can serve multiple purposes? So first, they provide valuable information to potential clients. They demonstrate your expertise and they can be used as lead magnets to build your email list. But just remember that the quality needs to be top-notch to resonate with this particular target audience. So these aren't quick, superficial guides no, they're not that. So these aren't quick, superficial guides no, they're not that. They should really offer genuine value and insights that affluent clients can't easily find elsewhere.
16:37
Lastly, I want to talk about utilizing case studies and testimonials effectively. So high net worth clients they want to see proof that you can handle complex, high stake cases. So case studies allow you to really showcase your problem solving skills and the results that you've achieved for clients in similar situations. That's what they're really looking for. So, for example, a divorce mediator might share a case study about how they helped a high-profile couple divide substantial assets, all while maintaining privacy. So that's really, really important for this market. An estate planning attorney could describe how they structured a complex estate plan that significantly reduced tax liability for a wealthy family. So, when it comes to testimonials, quality always trumps quantity, so a glowing review from a respective business leader or well-known individual in your community can be worth its weight in gold. So you just need to ensure that you get permission and also follow all ethical guidelines when using these types of testimonials.
17:53
But the goal here is for all of this content to really demonstrate your unique value to high net worth clients. That's what we're trying to do here, so every piece should reinforce your brand positioning and speak directly to the sophisticated needs of your target audience. So think about your current content strategy. Are you creating the kind of high value, insightful content that will attract and engage high net worth individuals? And if I were to go to your website or to your social media profiles, would I automatically understand that you work with high net worth individuals? Are you effectively showcasing your ability to handle complex, high stake cases? These are the questions that should really guide your content marketing efforts as you work to attract more affluent clients to your practice. You work to attract more affluent clients to your practice. So if you're stuck and you're trying to figure out how to do this, I encourage you to set up a call with us, as we can help you with our done-for-you marketing services, where we work with our clients to actually craft all of the messaging for your high net worth clients.
19:03
All right, let's dive into social media mastery, specifically focusing on how to reach and engage high net worth clients. Now I know what you're thinking social media for affluent clients, really. But trust me, it's not about posting selfies. It's all about strategic presence on the right platforms. So let me dive deeper here. So let's start with the platforms favored by affluent clients.
19:35
Linkedin is your goldmine here. It's not just a job search site anymore. It's where professionals, executives and business owners go to stay informed and connected. So high net worth clients they often use LinkedIn to network with trusted advisors, to seek recommendations and to connect with professionals, particularly in the legal financial spaces. So on LinkedIn, your approach should be all about thought leadership. You want to share insights on complex issues that high net worth individuals face. So, as I mentioned to you, you know I go on and we do social media audits and I see this all the time. They say they're high net worth advisors and we find nothing in their social media strategy that speaks to that, especially on LinkedIn. So let's take an example. If you're a divorce attorney, you might post about the implications of cryptocurrency on high asset divorces. If you're an estate planner, you can consider topics like navigating international estate laws for global entrepreneurs, because these are the things that high net worth clients are concerned about.
20:52
Now let's talk about crafting content themes that resonate with high net worth individuals. The key here is they are not interested in basic advice. They want to see that you understand their unique challenges. So I want you to think about things like wealth preservation, legacy planning, privacy protection all of these sorts of things. So engagement is crucial, and polls can be a great way to start conversations on LinkedIn. So you might ask something like what's your biggest concern when it comes to estate planning? Is it tax minimization, asset protection, legacy creation, and what this does when you're doing LinkedIn polls is it not only engages your audience, but it gives you valuable insights into their priorities.
21:45
So remember, the goal isn't to be everywhere on social media. It's about being in the right places with the right message. So your content should always aim to provide value, showcase your expertise and to really speak directly to the sophisticated needs of high net worth clients. So high net worth clients do also like to peruse Facebook. They like to engage with communities and groups that discuss legal and financial matters, but they typically go to private groups and that is a place where they go for recommendations and advice. Now, instagram some professionals use Instagram to showcase their expertise and client success stories and high net worth families and individuals. They may follow certain accounts related to estate planning, family law and personal finance for insights and recommendations. Twitter this is a platform that's often used for quick updates and insights on legal trends and news. And, yes, high net worth clients may follow thought leaders and experts for information on this platform. Youtube so many individuals are actually seeking educational content related to legal and financial matters and, yes, it is a resource for high net worth individuals looking for advice on these particular areas. So, you know, providing informative videos could be a really great approach.
23:20
So let's talk about networking and personalized outreach. These strategies they can really set you apart when it comes to attracting high net worth clients. Really set you apart when it comes to attracting high net worth clients, because this isn't just about handing out business cards at crowded mixers. It's really about creating meaningful connections in the right places. So, first up, hosting exclusive events and webinars. Now, when I say exclusive, I really mean that they aren't open to anyone and everyone. They're carefully curated gatherings that offer real value to affluent individuals. So, for example, if you're an estate planning attorney, you might host a small dinner event on preserving family wealth in uncertain times. A divorce mediator could organize a webinar on protecting business assets during high-stake divorces. The key here again is exclusivity and high-value content. You're not just sharing basic information, you're offering insights that these individuals can't easily get elsewhere, and by keeping these events small and selective, you're actually creating an atmosphere of exclusivity that really appeals to high net worth clients.
24:39
Okay, let's talk about building those strategic partnerships, and this is all about aligning yourself with other professionals who serve the same clientele. So I want you to think about wealth advisors, luxury real estate agents, high-end financial planners. There's so many different types of professionals in this arena, and these partnerships can be gold mines for referrals. So, for instance, you might team up with a wealth management firm to offer a joint webinar on legal and financial strategies for high net worth families, or you could partner with a luxury real estate agent to offer guidance on the legal aspects of high value property transactions, and so these partnerships not only expand your network, but they also reinforce your position as the go-to expert for affluent clients. I hope this is making sense.
25:37
There's a big difference here between saying that you are an advisor for high net worth clients and then actually being an advisor for high net worth clients and it's not for everyone, and so it's really important to think about this. You don't have to be an advisor for high net worth clients if that's not what your passion is, but if you are serious about being a high net worth advisor, then you really need to get honest with yourself and say you know, does my online presence reflect that? Am I attracting those types of clients? Okay, so now I want to talk about leveraging LinkedIn for direct, value-driven connections, and we help our clients do this all the time with our LinkedIn lead generations service. So this isn't about sending generic connection requests or spammy messages. It's about thoughtful, personalized outreach, and when we do this for our clients. On average, our clients are booking three to five meetings a week just by using this strategy.
26:45
So you have to start by identifying key individuals in your target market. Then you want to engage with their content, you want to comment on their posts, you want to share relevant insights and when you do reach out to connect, you need to make it personal right. Reference a shared interest or a recent post of theirs that you found interesting. So, once connected, you want to focus on providing value before asking for anything in return. So share an article that you've written that addresses a challenge that they've mentioned. Offer a quick piece of advice related to their industry.
27:21
The goal here is to position yourself as a valuable resource, not just another professional looking for business. I hope you see the difference there. Just another professional looking for business. I hope you see the difference there. So the last thing I want to mention on this topic is that this approach does take time. This is about the long game. It's not about quick wins. It's about building lasting relationships that can lead to high value clients and referrals down the line. So let's remember one key concept here the way you market to most clients just doesn't work when you're trying to reach high net worth individuals.
27:58
These clients have different needs. They care about privacy, protecting their wealth and managing complex assets. They're not just looking for any professional. They want someone that they can trust to understand their unique challenges and really handle the high-stakes situations with real expertise. So take what we've talked about today and apply it to your practice, adjust your messaging, strengthen your online presence and really position yourself as the right person for their specific needs. Show that you're not only qualified, but that you're exactly who they're looking for. Thanks for tuning in, and here's to building strong connections with the clients who need your expertise the most. You've got this and, of course, I'd love to hear from you. Let me know how it goes. Have a great day and see you in the next episode.