The Four Most Important Words
Wasting no time:
If you embrace these four words, your marketing will improve and your AUM will increase.
Hedge funds have been using the same verbiage to describe themselves for a quarter century. The mystique and sexiness is gone. Eighty percent of the words used describe attributes that are now simply assumed to exist, “risk mitigation” being a prime example.
Be it marketing decks, executive summaries, websites, etc., there is little attempt to differentiate or inspire. There really is no reason for it. Creating impactful and emotional language still qualifies as being “institutional.”
It’s interesting. We talk to so many charismatic and passionate managers, yet none of this emotion is portrayed in marketing materials. Our advice, kill the filter. Use the language and stories you use during a face-to-face within your marketing materials.
Change up the tools you use to tell your story. All of you are bored of us talking about video. Do you have one yet? There are other more modern ways to transfer knowledge as well, newsletters, digital decks, blogs, etc. The industry may not be changing but the people within the industry are. It is important to re-think the tools you use to tell your story.
People no longer want to talk to a human being until much later in the sales process. If you don’t have the technology in place to track discovery, you are marketing from a position of weakness. People shouldn’t need to “express interest.” You should know who is interested and have a process in place to accommodate their interest. This is impossible if you haven’t implement a marketing automation platform.
Mailchimp and Constant Contact are not marketing automation platforms. Technology has evolved.
There is bad news and worse news. The bad news, marketing costs money. Don’t expect anything to change if you are not prepared to invest in the process. The worse news, the ROI attached to marketing will continue to decline as more and more managers embrace modern tactics. Best be aggressive today. It is only going to get harder.
By Kyle Dunn