Understanding client preferences is becoming more important in the investment advisory industry and now, there’s a way to measure investors’ emotional attachments to those preferences. It’s called the NewMediaMetrics Emotional Attachment Index. And it measures everything from favorite activities to preferred media to brand attachment.
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An online survey of 4250 people between the ages of 13 and 64 measured people’s sentiment toward brands, including those toward financial services companies and banks.
Those who use Bank of America listed their top three media picks as Google Search, Amazon.com, and YouTube. Their personal interests were news, health, and cooking.
Media interests for those investing through Charles Schwab included the National Football League (NFL) playoffs and the NFL regular season. Their personal interests were finance and investment, computers and software, and politics.
The survey also revealed that clients have closer relationships with their investment firms than they do their banks. In the top 10 ranked financial companies, investment firms were listed as the top four with banks comprising the bottom six.
So how do you use this type of information? Since internet marketing is becoming increasingly important, knowing preferences for media will help you identify the channels you may wish to focus on to market your services. You can use the personal interests segment to identify interests you share with your target audience.
For example, Amazon was listed in the top three media preferences
(largely #1) for all 10 top listed firms. And News was the #1 personal interest item for all 10. This means you could write a book on how to sift the noise in the media from real news clients can use.
You could self-publish the book on Amazon and position yourself as the knowledge guru in the investment world and have clients clamoring at your door. Pipe dream? Maybe. Maybe not. If you don’t do something like it, someone else probably will.