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Five market strategies for emerging markets in APAC

Deepak Dhabalia

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If the current times have taught us something, it is that we all need to have a brief knowledge about the financial ecosystem. With the continuously developing market, it is imperative to arm ourselves with upgraded marketing strategies that focus more on online marketing than offline. Deepak Dhabalia shares some advice.

Why is there a need to revise the market strategy for the emerging financial markets in APAC? 

With the second wave of COVID-19 proving to be deadlier than ever, most of us refrain from stepping out due to precautionary reasons, making it nearly impossible to discuss financial products in person. However, if the current times have taught us something, it is that we all need to have a brief knowledge about the financial ecosystem. With the continuously developing market, it is imperative to arm ourselves with upgraded marketing strategies that focus more on online marketing than offline. A boost in online marketing will help connect with larger audiences, and it will be more convenient and user-friendly for our patrons. 

What should be kept in mind when designing a financial market strategy? 

A strategy is an astringent and achievable plan which is made to achieve something specific. Having a defined and thorough strategy will always help align the end goal with the process. Identifying the most accurate method can be challenging at times, and it might require multiple trials. Leveraging my 25 years of experience in the finance industry, I have listed down a couple of workable ideas: 

  • A tracker to analyze the scope for possible business from the existing clients. This could include both upselling and cross-selling.
  • A tool to track the number of prospects met but business not closed. This can help in building a highly effective follow-up system. 

Bifurcate your days into three segments: 

Planning and Preparation Days – Out of the 7 days, you can keep any two days for planning and preparing for upcoming meetings. This could also include checking up on your back office and routine work. However, spending more than two days on this activity can affect your overall performance.  

Business Sales Opportunity Multiplication Days – This segment can also be termed as 'meeting' days. Here, the main focus should only be on meeting potential clients or prospects. The days can be flexible as per yours’, and the client's convenience; however, this particular activity requires at least four days to achieve satisfactory results.  

Rejuvenation Days – After a long week, everyone needs a relaxing weekend to unwind and spend time with family or friends. A good weekend is vital to re-energize ourselves for the coming week. Without a good weekend, the working days will be tedious, and you won’t be able to give your 100%.  

What are the trends that financial markets in APAC must follow to get global recognition? 

I firmly believe that giving adequate importance to clients can add value to your relationship, which will ultimately be beneficial for both parties. I learned this concept of ‘Value Creation Process’ from my mentor Mr. Santosh Nair in 2003. Since then, there has never been a single client with whom I had sour or halfhearted relationships.  

Strong bonding and relationships are important in any business, and I am sure that financial markets can witness tremendous global recognition by following this practice. I also discovered a module of ‘Money Mastery’, an excellent set of sessions that helps me explore the concept of how to attract, save, multiply and enjoy money. Following these practices, I also realized that I was building a strong funnel to appeal to my prospects and clients.  

What are 5 key market strategies that could help emerging financial markets evolve in the APAC region? 

Following are five strategies that could help financial markets evolve: 

  • Every advisor should only focus on ‘business-generating or ‘money-making’ activities to witness growth in their business. Rest could be delegated to other team members. 
  • An advisor could be a member of several prestigious clubs to ensure powerful networking, image building, and solid recognition. Because “Network is equal to Net Worth.” 
  • After writing various books over the last two decades, I have realized that this practice can give you command and mastery over your subject. So, I suggest that one should firmly contemplate writing books on subjects like money, wealth, hybrid retirement, and accumulation, among others. Authoring a book can help you establish authority in front of the clients.  
  • Adapt to the strategy of ‘one to many’. Addressing a larger audience than following the monotonous and tedious process of meeting one client could help you build your business in the financial market effortlessly. You could address huge crowds in Lions or Rotary club or any other gathering. 
  • I am sure that you have a bunch of existing clients who are content with your performance and services. Considering that they are the center of influence and could introduce you to several prospects, you can collaborate with them. Their references and contacts combined with your expertise in the financial markets could result in fruitful outcomes. 

 

Contact: MDRTeditorial@teamlewis.com

 

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