How can you do Business with the ultra wealthy HNWI's and Family Offices? How can you do Business with the ultra wealthy HNWI's and Family Offices? that's a good question. To be able to access any sector it can be quite difficult, however, to access the Family Office ultra wealthy sector may be a little more difficult than most other sectors. The only real way to come to their attention and to do so, then you should consider advertising directly to the Family Office sector. “A man who stops advertising to save money is like a man who stops a clock to save time.” – Henry Ford So what is advertising, we all think we know the answer to this one? After all, it goes without saying that if you need to get the word out about your business, then your business needs to be known, and your brand needs to be recognised. However, in today's modern world of social media, advertising for some businesses this is done on the cheap (DIY) and predominantly via online social media platforms. That said, without the proper training or the required budget, this is going to be hit or miss. Unless you are paying a professional social media expert, who knows exactly who and what to target, that it's going to be more of a miss that a hit. However, for business providing niche services to a very private sector or clientele such as Family Offices, then social media may not be the way to go. TOM, DICK, and HARRY?An option may be a specialist service list publication. Again, this may be hit and miss as some publication lists are doing nothing more that listing service providers for a fee. From what we have seen, with some of these publications, the listings are not based on any qualifications earned by education or a solid reputation garnered over many years of experience but are simply based entirely on payment. This, of course, means that any
Tom, Dick or Harry can list their service for a few bucks which is then sent to a spam list of so-called family offices. SPAM Lists. Businesses are aiming to capture the elusive Family Office clients (rather naively) by buying the notorious lists of Family Offices that are floating around the internet. They then hope to make a fortune selling all sorts of rubbish, of course, the latter is complete fantasy, but this is usually the expectation of the gullible. From our experience, any list that is for sale to "all and sundry" is nothing more than a spam list and a complete waste of time that will alienate your business as opposed to promoting it. We all get spam, but you must picture a family office principal receiving a whole bunch of emails on a Monday morning offering all sorts of services, not a very happy bunny. "We would like to introduce our service....." that's as far as it will go, these emails will hit the junk folder, and your IP is blocked. If you send out a mass email with one of these notorious lists and not to one person at a time, again your IP will be blocked, however by many of the ISPs. Family Office Expos: Some other businesses attend dozens of Family Office expos and conferences around the world each year in an attempt to try and make the desired connections withing this sector. However, the cost of attending such events may be quite substantial. With fees for Expo entry, additional fees, promotional material, flights, hotels and expenses this can add up quickly and may not produce the results you are looking for. Advertising in a Publication: So for some businesses, the answer is advertising in a magazine that is both online and offline and has the reach your business needs to target your audience. While they are some publications that have nestled snuggly into a niche position within the sector. One that stands out is the Family Office Elite Magazine. The most recent issue has seen a substantial increase in its readership and the stats are quite impressive. The press release for the publications last front page story had 100k views. The online flip page magazine for the last issue had 40k views, and the magazine has a 46k audience. Also, Family Office Elite magazine is partnered with many of the world's leading family office, banking and wealth management conferences and expos. They have 110 partnerships in all, many of these strategic partnerships include terms in the agreements that give a free subscription to the magazine to all attendees. Also, the magazine has distribution rights at all of these events. When all is said and done, advertising is the lifeblood of any business. Without proper advertisement, how can your business be familiar within this sector or even be known to the Family Office target audience? If you are considering advertising your business or service in a publication, then make sure you advertise with a publication that has the reach, the type of reach you need to get your business directly to the sector you are targeting. We recommend that you view Family Office Elite Magazine media kit, its has some very interesting services and truly have a very impressive reach within the Family Office and UHNWI sectors. www.ourmediakit.co.uk
Family Office Elite Magazine – www.familyofficeelite.com
Advertising, view our media kit online. www.ourmediakit.co.uk
Comments or feedback, info@familyofficeelite.com
Twitter @familyofficemag