Sustainable Growth With Effective Client Acquisition Strategies
About This Course
Client acquisition carries a commitment to consistently expand on the width of one’s reach to potential clients. The assumption: get the quantity and you will find the quality. Is this really true? Is there real efficiency in such an approach? How to grow with quality and control? Are there better ways that we can actually run a quality clients-based business in Private Banking with a better crafted out clients-acquisition strategy?
The following course introduces participants to key factors that challenge Private Bankers to consider how they are growing their centre of influence for client acquisition and who and where to extend this reach. It will provide practical but insightful perspectives for PBs to evaluate their present practices and explore new practices or initiatives that will grow their businesses. For those who are already succeeding in their trade, the session may provide more thoughts for them, or even assist them with a systematic approach to better peer-inspire their fellow bankers.
Who Should Attend
Relationship Managers with at least 3 years of working experience in Private Banking
Learning Outcomes
- Review existing customer acquisition and retention plans
- Develop research construct on customer insights and customer behaviours to understand new customer profiles
- Recommend customer segments to acquire
- Determine personal preferences and needs of targeted customers within market segments
- Establish customer acquisition plans to acquire new customers
- Manage and develop customer relationships and maintain customer confidentiality, to ensure credibility and attract new customers
- Evaluate customer responses to determine if customer needs and expectations are met
About IBF Certification
This course addresses the following Technical Skills and Competencies (TSCs) and Proficiency Level (PL):
- B3. Customer Acquisition Management - Level 4
Participants are encouraged to access the IBF MySkills Portfolio to track their training progress and skills acquisition against the Skills Framework for Financial Services. You can apply for IBF Certification after fulfilling the required number of Technical Skills and Competencies (TSCs) for the selected job role.
Find out more about IBF certification and the application process on https://www.ibf.org.sg/certification/Pages/Why-be-Certified.aspx
Client Acquisition Strategies & Structures
- Defining Client Acquisition Strategy
- Key Factors in Clients’ Acquisition Strategies/Models
- 4 Important Approaches that will assist in better Client Acquisition efforts
- Client Acquisition Framework
- Four generic aspects of Client Acquisition Framework
- Simplifying the framework into sectors
- Client Acquisition Strategy
- Flow of Client Acquisition strategy processes
- Marketing Funnels and Process of Engagement
Client Acquisition Strategies affecting Private Banks
- Common Clients’ Acquisition Approach in Private Banks
- Where and What Private Banks do to look for clients.
- Shifting Terrain of Private Banks affecting Clients Acquisition
- The Digital Difference
- The Customer Expectations
- Client Acquisition Framework in Private Banks
- Five aspects of clients engagement
Segmentation: A Key Client Acquisition Approach
- Generic Segmentation Approach
- 2-tier Segmentation process and research approach
- Segmentation in Private Banks
Understanding CAC: Clients Acquisition Cost
- Defining Clients’ Acquisition Cost
- Understanding the Need to Balance CAC
- Understanding cost factors in CAC
- Identifying LTV or CLTV – Customer Lifetime Value
- Quantitative measurement of CAC to study the ROI of Client Acquisition Strategy
Regulatory Issues in Clients Acquisition in Private Banking
- Regulatory Issues key to CA processes
- Client Confidentiality & Client Confidence
- Ethical Issues and Code of Conduct in Client Acquisition Strategies
Sustainability in Growth – Practical Acquisition Principles in Private Banking
- Inside-out challenges faced by Private Banks/Bankers in Clients Acquisition
- The four steps approach for review and implementation:
- RESEARCH & AUDIT
- ORGANIZE TO SUCCEED
- SEGMENT TO GROW
- REFERRAL - A MEANS FOR RETENTION & ACQUISITION
Assessment - MCQ
Gordon Aw
MBA
Gordon Aw, started his working life in the IT field with Apple Computers Singapore. After two years, he joined a non-profit organization for more than 15 years as a management staff before he left to be a senior consultant with a regional consulting company which is now known as Capelle Consulting/Academy. He later joined FHL Capital as compliance officer and was involved with investments in properties and equity market and financial planning. Subsequently, he set up his own company in corporate training and finance technology in equity algorithms. Having introduced many HNWIs to insurance agencies, he decided to obtained financial advisory license in 2016 to better advise and assist his clients.
In the context of training with financial organizations, investment and insurance agencies include key management officers, relationship managers and analysts over the last 20 years. Known as a talented orator and powerful motivational speaker and being adept in both English and Mandarin, Gordon is very well sought after for sessions in relationship management, effective leadership, team leadership, personal effectiveness, effective communication and business development. His key clients include government agencies, multi-national organizations and financial institutions such as insurance agencies, banks and property agencies. With more than 20 years of experience, he is also an experienced trainer of trainers, and had conducted sessions in China, Hong Kong, Saudi Arabia, Malaysia, Australia, Vietnam, Taiwan, the United States of America amidst many countries.
Gordon was invited as a subject expert in the early years for the WSQ competency framework development. He successfully developed several programs in leadership and communication for the agency he was involved with. He was also the competency framework architect for the King Faisal Hospital in Saudi Arabia for over 5 years.
He is a certified NLP Practitioner and a certified behavioural consultant in the DiSC© Personal Profile System, The Personal Listening Profile©, TICS® Values Profile, Taylor Johnson Temperament Tests, Big-Five and the TICS© Values System. He is well known as a communication/behavior specialist and has also developed several behavioural and leadership tests on his own and customized them for his clients.
His specialties include:
- Contextual Leadership
- Leadership Challenge
- Effective Communication Skills
- Power Presentation Skills
- Strategic Thinking Process
- Executive Coaching
- Change Processes
- Conflict Management
- Success in Negotiations
Gordon received his first degree in Philosophy and Theology from Trinity Theological College and completed his MBA program with University of Hull, England.
IBF-STS
This programme has been accredited under the IBF Standards, and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met. Candidates are advised to assess the suitability of the programme and its relevance to participants’ business activities or job roles.
For latest development on the Funding Support for IBF-STS, please visit the IBF Standards Training Scheme site.
About the IBF Standards
The IBF Standards are a set of competency standards for financial skills. These Standards are developed in partnership with industry leaders and provide a professional development and skills roadmap for financial sector practitioners to excel in their respective job roles. They currently cover 12 industry segments in the financial sector.
About the Institute of Banking and Finance Singapore
The Institute of Banking and Finance Singapore (IBF) is the national accreditation and certification agency for financial industry competency in Singapore under the IBF Standards. Find out more on www.ibf.org.sg
Early Bird Discount
Enjoy 10% early bird discount when you register one (1) month before the course commencement date.
