The roadmap to success for financial professionals using real-world examples, practical how-to's, and a structured approach to marketing strategy and tactics that covers the basics for beginners and inspires new ideas for marketing pros The Financial Marketing Services Handbook, Second Edition gives sales and marketing practitioners the practical tools and best practices they need both to improve their job performance and their retail and institutional marketing strategies. The FSM Handbook guides marketing and sales professionals working in an industry characterized by cut-throat competition, client mistrust, transformative technologies, and ever-changing regulation, to understand the practical steps they must take to turn these threats into opportunities. Providing invaluable information on how to target, win, and retain profitable customers, the book presents an overview of the basic marketing functions segmentation, positioning, brand building, situational analyses, and tactical planning as they relate specifically to the financial services industry. With up-to-date case studies, showing what has worked and, more tellingly, what hasn't, the book demonstrates how to effectively utilize the marketer's toolbox from advertising and public relations to social media and mobile marketing. Discusses how social media (Twitter, Facebook, blogs, review sites) impact branding and sales Packed with new information on landing pages, email success factors, and smartphone apps Demonstrates how behavioral economics affect marketing strategy Case studies and charts are fully revised and updated The financial industry is under intense pressure to improve profits, retain high-value clients, and maintain brand equity without straining budgets. The first edition has become an industry-standard reference book and The Financial Services Marketing Handbook, Second Edition gives sales and marketing professionals even more of the information they need to stretch value from each marketing dollar.

The roadmap to success for financial professionals usingreal-world examples, practical how-to's, and a structured approachto marketing strategy and tactics that covers the basics forbeginners and inspires new ideas for marketing prosThe Financial Marketing Services Handbook, Second Editiongives sales and marketing practitioners the practical tools andbest practices they need both to improve their job performance andtheir retail and institutional marketing strategies. The FSMHandbook guides marketing and sales professionals working in anindustry characterized by cut-throat competition, client mistrusttransformative technologies, and ever-changing regulation, tounderstand the practical steps they must take to turn these threatsinto opportunities.Providing invaluable information on how to target, win, andretain profitable customers, the book presents an overview of thebasic marketing functions--segmentation, positioning, brandbuilding, situational analyses, and tactical planning--as theyrelate specifically to the financial services industry. Withup-to-date case studies, showing what has worked and, moretellingly, what hasn't, the book demonstrates how to effectivelyutilize the marketer's toolbox--from advertising and publicrelations to social media and mobile marketing.* Discusses how social media (Twitter, Facebook, blogs, reviewsites) impact branding and sales* Packed with new information on landing pages, email successfactors, and smartphone apps* Demonstrates how behavioral economics affect marketingstrategy* Case studies and charts are fully revised and updatedThe financial industry is under intense pressure to improveprofits, retain high-value clients, and maintain brand equitywithout straining budgets. The first edition has become anindustry-standard reference book and The Financial ServicesMarketing Handbook, Second Edition gives sales and marketingprofessionals even more of the information they need to stretchvalue from each marketing dollar.

Preface ixAcknowledgments xiIntroduction The Unique Challenges of Marketing Financial Services 1Products or Services? 2Psychology of Money 6Third-Party Relationships 7How End Users Select a Financial Services Provider 8Legal and Regulatory Constraints 13Section One: Strategic Market PlanningChapter 1 Segmentation 19The End of Undifferentiated Markets 20Methods of Segmentation 23Finding Your Target Segments 29Chapter 2 Positioning and Branding 33Positioning Strategy and Differentiation 33Creating a Distinctive Brand Identity 37Chapter 3 The Market Plan 45Researching Your Plan 46The Elements of the Plan 48Section Two: Marketing TacticsChapter 4 Advertising 61Media Selection 62The Role of Your Ad Agency 63Creating Effective Creative 65Measuring Advertising Effectiveness 71Chapter 5 Public Relations 75Third-Party Endorsement 76The Tools of Public Relations 77Media Relations 79Public Relations for Every Budget 82Measurement 85Chapter 6 Sponsorship and Event Marketing 87What is the Value of Sponsorships? 87Cause Marketing 89Activating a Sponsorship Program 91Measuring the Effectiveness of Sponsorship 94Chapter 7 Interactive Marketing 97Techniques and Goals of Direct Methods 97E-mail Marketing Considerations 98Improving Response Rates 100Mobile Marketing 104Chapter 8 Social Media Marketing 107Social Media Concerns 108Effective Social Media Engagement 110Social Networks as Marketing Channels 118Chapter 9 Personal Selling 123Traditional Relationships between Sales and Marketing 124Bottom-Up Marketing 126Changes in the Sales Distribution Model 130Marketing Support Across the Sales Cycle 132Chapter 10 Trade Shows and Seminars 135Trade Shows 135Seminars 139Chapter 11 Relationship Marketing 145Why Customer Retention Matters 146Methods of Relationship Building 147Loyalty Programs 152Conclusion 157Appendix: Applying Marketing Principles to Sales Practice 160Building Your Plan 162Practice Examples 164About the Authors 191Index 192