Over the past year we’ve seen major shifts in how things are done – including marketing!
The pandemic turned the world topsy-turvey and we scrambled to find new or adapted ways of doing just about everything.
Hibre’s excerpt is below:
How do you break through the noise?
Hibre Teklemariam with SunStar Strategic would ask, “What’s your niche? What’s your messaging concept?”, as part of a two-step approach:
Sit down and think about what makes you unique. This will help focus your approach to the marketplace.
Be consistent. A good place to start is by looking at your firm’s website as the hub of your distribution and messaging strategy. Advisors are also beginning to adapt to social media. While there are many platforms to choose from, LinkedIn tends to be the most popular. To make the most of LinkedIn, use repetition and consistency to gradually capture the mindshare of your target audience.
How can you better engage with advisors and attract assets?
“Financial advisors are bombarded with information”, noted Teklemariam. “What they really want is a focused approach.” Advisors care about the bigger picture. They appreciate macro data and a fund manager’s viewpoint on the market, current events, and outlook (including how current market conditions are affecting a fund and strategy). They seek information on particular sectors or market nuances, which can help advisors sell new ideas and products to clients.
Teklemariam recommends presenting this information to advisors in easy-to-digest, client-ready pieces, which they can share easily. Another tip: Advisors want to know what a fund is doing performance-wise. A common mistake that managers make is to gloss over poor performance. If you provide a historical perspective, poor fund performance won’t send advisors running. They want to know that you can weather the storm, so if you can share that, they want to see it.
Looking for help with marketing agility? Where do you start?
To start, do an audit. Take an honest look at your marketing strategy/mindset. Ask yourself – Is it working? If you had a plan before that you neglected, it’s time to revisit it and update it. If not, you can create a simple plan you can execute. Determine what’s measurable and meaningful to measure. It will help you decide if you should make a change. Should you divert money and effort to something you have not done yet? What would you cut out? What should you expand? Find a benchmark, another firm that is growing that you can emulate. How are they different? How are they growing? SunStar Strategic can help you create a strategic approach, develop your messages to differentiate you from the competition, and build credibility through thought leadership and leveraging third-party endorsements through the media.
Need help getting your marketing program off the ground? Jumpstart My Marketing offers actionable resources to get you started.