When evaluating the research findings, we quickly see that one example of this is for Forbes to provide meaningful personal/professional development processes, methodologies and tools to select segments (Figure 5). We're not talking about investment or tax advice per se. The most attractive solutions around the topic of wealth deal with the actions a person needs to take to become meaningfully rich.
Extensive research with U.S. small- and midsize business owners shows that they would be very interested in ways to dramatically increase their ability to become personally wealthier. Moreover, about 60% of them identify Forbes as a viable source for these methodologies. At the same time, about a quarter of the wealthy also identify Forbes as a viable source for these actionable strategies. This finding dovetails nicely with the way the segments view the Forbes brand (Figure 2).
What's important to recognize is that the type of knowledge we're talking about is in tremendous demand by these and many more segments. However, as we're looking at the issue of leveraging the Forbes brand, it's critical to recognize how receptive people are to the brand as the source of these solutions.
When it comes to financial firms and advisors, there are only a few that have taken the steps to develop the same levels of insight into their brands as Forbes has done. It's not only essential to develop this understanding, it's equally important to consistently update this information. It doesn't matter if the objective is to just go deeper with select segments, such as the worldwide wealthy, or to expand offerings, as in the case of "know-how solutions." What is essential is to be able to make well-reasoned decisions. Without doing the needed homework, the decisions made are probably not very insightful.
Bruce H. Rogers is the chief brand officer for Forbes Media and a veteran of the print and digital publishing industries. He is a well-established expert on brand building, media measurement and advertising accountability.
Russ Alan Prince is executive editor of Private Wealth magazine.
We would like to thank Megan Womack, director of business development at Forbes Media, for her assistance with this article.