Big Block Industry

Big Block Industry

Reaching High Net Worth Millenials Through Online Channels

Generation Y defined as being born in between 1978 and 1998

Will inherit $41 trillion in assets by 2052

Fewer than 30 percent of high net worth ($5mm to $25mm) work with a financial planner (Millionaire Center Survey, 2010)Understanding the Target

Characteristics of Millenials

Entrepreneurial

Self Reliant

Cynical to Advertising

Understanding the Target

Common misunderstandings: They want everything online

Understanding the Target

Apple v. PC

Common misunderstandings: They want brands to be young like them. Trustworthiness doesnt matter.

Understanding the Target

A brand does not have to be like a milleniala brand simply has to UNDERSTAND a millenial.

Raymond James Brand does not have to be rebuilt, rather it simply needs to EXPAND.New marketing channelsNew marketing tools for repsSAME message!

So what does this all mean?

YouTube Educational Series

Mobile applications (phone and tablet) (70% of wealthy millenials own a smartphone, 32% own an iPad)

Web applications that allow changes to accountsNew Online Channels: Brand Level

SEOMoz Whiteboard Friday70% of wealthy millenials watch 100 minutes of online video per week or moreData Source: Luxury Institute Survey, 2011

Media buys in digital editions of publications traditionally aimed at high net worth individuals

Search Engine Marketing

Exclusive social network for RJ clients to discuss strategy and get questions answered

New Online Channels: Brand Level

Online appointment booking with reps

Rep should be notified and involved when changes are made to accounts online

Email relationship tools

Reps encouraged to publish articles, distributed through content networks and blogs

New Online Channels: Rep Level

Search reputation management for reps

Reps should all have social media profiles to interact with clients. You are not my friend in real life until you are my friend on Facebook

Financial Planning with millenials should be collaborativeNew Online Channels: Rep Level

The most important brand attributes to high net worth millenials are:

SIMPLICITYSPEEDCUSTOMIZATIONSOCIAL AWARENESSEXCLUSIVITYWhat Millenials Want