The word exponential is often used to describe the pace of technological change which has come to define the world we live in. And with new technologies such as artificial intelligence, 3D printing and virtual reality only just warming up, the pace is unlikely to let up. More and more companies are beginning to use 3D visual specialists like 3D boffin to market their products in a creative manner. In this environment is it easy to become convinced that, when competing in a global marketplace, speed is the greatest of virtues, especially when it comes to digital marketing. Indeed, in The Great Acceleration, author Robert Colvile argues that speed has become the defining feature of the modern economy, the driving force behind wealth creation in the 21st century. Companies that specialise in this field, such as the Digital Marketing and SEO Agency Improve Marketing, have to continue to research and develop themselves in these areas to stay ahead of the game.
The High Net Worth (HNW) marketing space is no exception and here also, the trend is towards speed, automation and algorithms. Netz.uk for example, based in London, use machine learning and natural language processing to target their HNW marketing. Skills like this are well sought after, with some looking to a real review of nine university and other groups to learn how to hone themselves in this field, and learn how to program for it. Even HNW financial advice is now being automated by companies looking to stay ahead of the technological curve and increase market share.
SKS Media has built a business around a granular, one-by-one approach which treats each campaign and each client individually. The focus of each campaign always remains very simple: return on investment. While the trend in HNW marketing is often towards expensive events and brand awareness campaigns, the returns on these significant expenses can often be ephemeral. This is why an established agency remains focused on tangible returns which actually grow a client’s business – the ability to help achieve marketing goals is often the reason given when the question is asked, ‘why hire a pr agency in the philippines?’ And while, in a sped-up and interconnected world, this might feel like swimming against the tide, there are growing numbers of people willing to question the narrative that tech is always best.
Snapchats recent $29 billion IPO (despite the company having never made a profit) have led many to speculate that we are in the midst of a tech bubble akin to the dot-com bubble of the late 90’s.
John Winters, Director at SKS Media’s Singapore office, says: “Technology gives anybody working in the HNW marketing space a whole range of exciting tools with which to better develop and reach out to new audiences. The HNW market is increasingly diverse and increasingly global however and this makes it increasingly difficult to develop systems or approaches which can be applied to this audience as a whole.
“The key to HNW marketing is relationships and while working with new technologies needs to be part of the mix for anybody looking to make an impact, there is still a preference in this audience demographic for a more traditional approach focused on ROI, detailed bespoke campaigns and personal attention to relationships.
“Highly targeted campaigns, adapted for a range of mediums from broadcast, direct response, networking, events and digital, usually prove to be the most effective. So, when looking at tech trends and the possibilities they promise, the lesson for HNW marketers has to be, don’t not believe all the hype, but take it with a pinch of salt. Or is that silicon?!”