Marketing Private Banking Services to Family Businesses

Marketing Private Banking Services to Family Businesses Family businesses, whether private or public, are a major component of the global economic system. Since shares tend to be closely held, these owners constitute a unique private banking market of highly concentrated wealth that has, to date, been undeserved. Given the pending, worldwide retirement of the Cold War generation, many of these businesses will either recapitalize or change hands, liberating a great deal of previously illiquid capital as well as destabilizing many historical financial relationships. Beyond this significant temporal opportunity, family‐owned businesses constitute an important and ongoing market for service providers of all types. Critical to the success of any marketing effort directed towards these businesses will be the overt recognition of the unique and eclectic characteristics of the enterprises themselves and the families that control them. Traditional relationship management practices will not prove sufficient. Successful entities will re‐examine their historical, product‐driven sales tactics and reorganize them into actual marketing strategies based on the needs, issues and characteristics of the family system client. Entities that ignore these differentiating elements are likely to experience significant frustration as well as missed opportunities, as this emerging market reaches full flower. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Bank Marketing Emerald Publishing

Marketing Private Banking Services to Family Businesses

Loading next page...
 
/lp/emerald-publishing/marketing-private-banking-services-to-family-businesses-bHp5b2YfR7
Publisher
Emerald Publishing
Copyright
Copyright © 1994 MCB UP Ltd. All rights reserved.
ISSN
0265-2323
DOI
10.1108/02652329410055187
Publisher site
See Article on Publisher Site

Abstract

Family businesses, whether private or public, are a major component of the global economic system. Since shares tend to be closely held, these owners constitute a unique private banking market of highly concentrated wealth that has, to date, been undeserved. Given the pending, worldwide retirement of the Cold War generation, many of these businesses will either recapitalize or change hands, liberating a great deal of previously illiquid capital as well as destabilizing many historical financial relationships. Beyond this significant temporal opportunity, family‐owned businesses constitute an important and ongoing market for service providers of all types. Critical to the success of any marketing effort directed towards these businesses will be the overt recognition of the unique and eclectic characteristics of the enterprises themselves and the families that control them. Traditional relationship management practices will not prove sufficient. Successful entities will re‐examine their historical, product‐driven sales tactics and reorganize them into actual marketing strategies based on the needs, issues and characteristics of the family system client. Entities that ignore these differentiating elements are likely to experience significant frustration as well as missed opportunities, as this emerging market reaches full flower.

Journal

International Journal of Bank MarketingEmerald Publishing

Published: May 1, 1994

Keywords: Banking; Family firms; Financial services; Human relations; Marketing; Management succession; Planning; Recapitalization

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create folders to
organize your research

Export folders, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off