Leading Wealth Management Firm
Used Motista’s intelligence to grow client assets and revenue.
A leading wealth management brand used Motista’s Predictive Intelligence on Motivations™ to increase share-of-client-assets and acquire valuable new clients.
CHALLENGE
This wealth management firm sought to increase client assets, serve clients beyond investments, and acquire valuable new clients. The brand’s robust digital properties and high satisfaction scores had become costs-of-entry. Existing client segmentation - based on investing attitudes, behaviors and demographics - no longer predicted value.
SOLUTION
Motista empowered the firm to identify its clients based on Emotional Predisposition - how likely each client was to connect to the brand. Clients with higher Emotional Predisposition were validated to concentrate more of their assets, remain more loyal and generate higher lifetime value. Emotionally Predisposed clients were identified within the brand’s key demographic segments, including Affluent, Mass Affluent and Gen Xers.
From there, Motista provided the motivations accurately predicting clients to open and fund accounts, increase assets, use the brand for additional financial needs (such as banking and insurance), remain loyal, and recommend the brand to others. These were the firm’s customized Predictive Motivations™ across the client journey.
Motista provided activation recommendations to the client experience and marketing teams to accelerate in-market impact. Also, Motista assisted the firm in developing the business case to use human motivations to target, acquire and grow clients.
ACTIVATION
The wealth management brand targeted Emotionally Predisposed clients - across Affluent, Mass Affluent and Gen X segments - for growth in assets and complementary financial needs.
Emotionally Predisposed clients were identified (1:1) within the firm’s client database, as well as the acquisition ecosystem.
In parallel, the firm used the Predictive Motivations to inform client experience and marketing touch points to build enduring and relevant connections with clients.
The firm’s and mobile app were evolved and personalized based on the Predictive Motivations, including messaging, content and tone.
Client communications - spanning new client onboarding to advocacy communications - were significantly informed by the intelligence.
Across advertising, direct marketing, product marketing and social media content, the firm used the Predictive Motivations to inform messaging, content and creative design to best connect with clients.
By activating Predictive Intelligence on Motivations, the firm targeted and connected with its highest potential clients, leading to gains in revenue and lifetime value.
RESULTS
Emotionally Predisposed clients concentrated 17-25% more assets with the firm across the demographic segments. Additionally, Emotionally Predisposed clients engaged the firm for additional needs, including banking and insurance. Such clients held 29-37% more household accounts with the firm.
Retention rates were boosted (by 8% on average), with first year retention (when churn was most likely) improving even more.
New Emotionally Predisposed clients converted at higher rates and increased balances at a faster pace, boosting ROI on acquisition investments.
These gains contributed to higher revenue-per-client and lifetime value.