The following post is courtesy of Diane Harrison who is principal and owner of Panegyric Marketing, a strategic marketing communications firm founded in 2002 specializing in alternative assets.
We are well underway in 2022, and the restrictions that Covid had placed on social gatherings continue to recede, but what does that mean for today’s marketing plans? Two years of forced shutdowns and a massive shift to online tactics have created an uneasy marriage between the desire to get back in front of clients and prospects, and the convenience, cost savings, and ease of continuing to focus on outreach through websites, videos, social media, and the like. Couple that with a growing acceptance and even preference of consumers to receive information from the comfort of their couch, and you have a dilemma for marketers hoping for a full return to pre-Covid practices.
HYBRID IS THE NEW NORMAL
Since consumers have shown their desire to experience events and business information in the virtual world and enjoy the control and timing that allows them to drive the process, how can investment managers best influence their target audience? The answer is to listen carefully to their clients and deliver effective programs that respond well to their wishes across a range of strategies.
As marketing experiences continue to populate the virtual space, customers across the marketing spectrum are demanding to be educated, entertained, and understood. Firms who want to be influential in this space must create a distinctive brand that feels credible and exudes leadership in the field while also providing for a welcoming experience for its client base. Let’s take a look at some of the insights analysts have put forth regarding this focus in 2022, and ways that companies might choose to build out their programs in meeting this challenge.
Bettermarketing.pub ran a piece recently on top marketing trends for 2022 that offer a wide range of actions. Some of their ideas are summarized below with a perspective on investment management.
Online Events: Podcasts, video interviews, webinars, etc. remain a key focus for opportunities to showcase expertise, industry knowledge and leadership, particularly in the investment space. Fund managers who are comfortable delivering succinct analysis of their views on where market forces are heading and how to navigate them will be a powerful marketing tool for their brand.
The live delivery that video affords can’t be beat for creating a true brand voice and personality when delivered by a key member of the firm. If you as a manager are not so adept in front of the camera, hire someone who can direct you through the process, or let one of your senior team stand in for the bulk of the delivery.
Content Marketing: The emphasis on driving value to your clients and prospects is more important than ever. So much information is out there and attention spans are brief, so you must capture and deliver something valuable each time you reach out to your customer virtually. Newsletters that offer insight, intelligence, and entertainment can have great impact on a firm’s brand value in the eyes of the consumer. Blogs that drive views to a firm’s website and keep them coming back for more are also effective ways to reinforce the thought leadership role clients want from their preferred brands.
Educate versus Sell: Because more and more information gets pushed out to people these days, the tendency to delete instantly is high. If investment managers can orient their marketing process towards teaching why what they do is a value to their clients and showcase that through simple, clear examples of successful problem solving, they will be a leg up on the competition. The article here on bettermarketing.pub refers to this as storytelling. People retain information longer when it comes in the form of a storyline, and customized tales of how you have identified an issue and solved it can be extremely effective for your overall marketing plan. When someone can see themselves in the position of the person being helped, they are automatically influenced positively by the association.
Use Automation to Your Advantage: Entrepreneur.com ran an article earlier this year that talked about the importance of understanding data collection and how people are experiencing online marketing. It mentioned that 8 out of 10 consumers will eventually see the world as all digital. It also stated: Search engine giant Google has announced that YouTube reaches more 18-34 and 18-49 year-olds than any cable network in the United States. Facebook reports that video posts receive six times more engagement than photo or link posts on average while Twitter has seen an increase in video views by over 160%.
With so many people relying on digital means of information mining, firms must also adopt a stronger focus on data analytics in 2022. Understanding what kind of return you are getting from your tactics will become more important going forward both for setting budgets and resource allocations as well as remaining flexible to shift resources to the most effective strategies that work for you.