How to be a financial marketing expert
There are quite a number of aspects that regard marketing. Marketing involves the process of promoting and distributing services and products, pricing and satisfying the clients. It involves the creation of products that are commendable to the customers at the right price, and the right promotion to satisfy the needs of the clients (Ehrlich, Evelyn, and Duke 23). The strategies of effective financial marketing include identification of the target market, showing the client what is offered and getting more traffic on the website.
Identifying the target market
This is a group of people or clients where a company has to direct its efforts to sell its products or services. A financial market must apply the principles of marketing which are the product, place, price and promotion. As a financial marketing expert, I will have to satisfy the needs and expectations of my clients by developing these core principles to match the target market’s requirements. For instance, if my target market is affluent businesspersons I cannot sell products in a discount outlet or local chemists. The sale of a service, product or an idea can be regarded as an exchange. When a customer purchases a product, he exchanges his money and time to get the benefits of the product. For a satisfactory exchange to take place, each party must have confidence in the value of what is being exchanged (Ehrlich, Evelyn, and Duke 26). When the exchange is over, both parties ought to be satisfied. When marketing a product, there should be the need to create, maintain and satisfy the exchange. As a financial marketer, I ought to attract new clients, increase the profitability of existing relationships with clients and increase their period.
To be a successful marketer, I will have to organize, plan, implement and control characteristics of the marketing procedure. I will have to assess the possible resources and opportunities and establish my marketing goals. I have to organize everything to be ready to implement my plan. For my plan to be successfully implemented it will have to synchronize all the marketing procedures, and I will have to develop my performance principles and make a comparison with my concrete performance with my expected performance.
Showing the client what is offered
The concepts of production hold that clients will always prefer the services or products that are available at affordable prices. Companies ought to focus on attaining high efficiency of production and wide distribution. Clients will also have preferences for products or services that have innovative features or quality performance (Ehrlich, Evelyn, and Duke 29). Companies ought to focus on creating superior products. The company must also have an aggressive promotion and selling efforts. A financial business ought to be marketed in a way that clients and customers can identify what they can attain or how they can benefit from the services or products of the company. This issue is critical in financial marketing. Several businesses fail to achieve this and these businesses end up losing clients or customers. The customers ought to be convinced with the products or services of the company, and they have to believe that the company is the best options amongst the rest (Rickard, Levela, and Kit 15). This is because I expect to make a profit and I have to convince these people to pay me for the services that I offer to them.
Getting more site traffic
Companies have websites where clients can view the services and products available. As a financial marketing expert, I will have to attract more clients to the website. This traffic will come from the people who show interest in financial business or finances. In this way, will be able to identify the rate at which those people who purchase the products and those who just visit the site and fail to buy the products (Rickard, Levela, and Kit 27).
As an expert financial marketer, Ii understand the financial world, and I also understand how to attract more traffic in a site. I understand how to bring a positive online presence. This is a critical assistance for financial services for companies that have prospects in their share market. I will examine the website of the company to ensure that it is user friendly and offers all the information that clients may require in terms of a layman (Rickard, Levela, and Kit 32). It is critical for companies to know that when people visit the website, they are always in search of information. If a company can supply that information, there will be high chances that the visitors will become potential clients.
Conclusion
I can be able to see things from the perspective of the client and the business. I am capable of telling how the client thinks and how the company can approach him to attain success. I will have to deploy professional tactics and strategies to make this happen. Market orientation requires commitment from the entire company. It needs a number of changes that have to be managed. I will explore the action plan and guidelines for implementing a market course.
Works Cited
Ehrlich, Evelyn, and Duke Fanelli. The Financial Services Marketing Handbook: Tactics and
Techniques That Produce Results. Princeton, NJ: Bloomberg Press, 2004. Internet resource.
Rickard, Levela, and Kit Jackson. The Financial Times Marketing Casebook. Harlow: Financial
Times Prentice Hall, 2000. Print.
