Everybody is using digital marketing these days in the asset management sector.
But not everybody is using it effectively. It may raise awareness, sure, but does it actually move the needle in terms of raising and retaining AuM?
For most, the answer to that is ‘no’.
In this five-part series, I’m going to show you how to turn things around and make digital marketing into your asset-raising saviour.
Let’s start with a simple concept that should underpin everything you do when it comes to digital marketing:
Think like an investor.
When you start to think like an investor you avoid the classic mistake of concentrating on what you want, rather than what your potential clients want.
This is why asset managers are prone to believing that prospects and clients are itching to talk to them and hear from them. So, digital marketing tends to revolve around Zoom calls and webinars.
But the problem is that most people don’t want to get their investment advice from these mediums.
In fact, according to a recent survey we conducted with Greenwich Associates, just 25% of people in the asset management and private banking space cite Zoom as their preferred channel for receiving information. Webinars came in better at 63%, with websites favoured by 67%.
But way out front is the old marketing warhorse of email, on 92%. The reasons given for this were email’s capacity to provide detailed content and the fact that it’s non-intrusive.
Plenty of people will ignore this finding and keep relying on the quick fix of Zoom, but that’s because it’s good for them.
But what’s good for clients and prospects is to receive a steady stream of well-written, informative emails.
Of course, this isn’t a one or the-other scenario. Zoom sessions and webinars are a valid and useful part of your marketing arsenal.
But just because someone always attends your Meet the Manager sessions, doesn’t mean they are ready to invest.
You need to nurture the relationship – and email is by far the easiest and most effective way to do this. And your emails can be used across other mediums, such as on your website and via social.
It can be difficult for more traditional managers to adapt to this brave new digital world – and perhaps they favour Zoom as it’s more personal and similar to the days of face-to-face meetings.
But adapt they must, or risk going under, as many firms are fully immersed in the digital transformation and are streaking away as a result.
So, you need email content – and lots of it. But what do people want to read? I’m going to cover that in the next article in this series.
If you want to find out how ProFundCom can help you use digital marketing to raise assets schedule a demo here