As of January 2018, over 80% of households in every income level had Facebook accounts. At the over $100,000 income level, users were an incredible 86%. Fund companies who want to be known and relevant need to take advantage of these digital experiences.
An electronic brochure or a robust “work” of art?
Can a website truly command your attention? Sadly, the websites of many asset management firms may have been created with serious intentions but are woefully inadequate in their ability to keep engaged. Rather than a digital version of a prospectus, as the first impression a firm gives, a website needs to set the brand and its story apart from the competition.
The internet is the gateway to almost everything today. When being compared to others in the digital world, it is essential that your website be technologically advanced, attractive, dynamic, and deliver compelling content. The site needs to achieve minimum objectives of raising visibility and increasing lead traffic.
Research points to advisors finding value on a site or social media platform that delivers insight into the fund manager’s specific areas of expertise – not general market commentary with a large number using LinkedIn as a resource for ideas.
Digital advertising is ubiquitous
Online advertising and sponsoring are other valid strategies in today’s marketing mix. Young adults are online constantly – not only connecting with friends but watching news videos, listening to economic podcasts, reading blogs and doing all kinds of research. Those who study “buyer” behavior proclaim a secular shift to research-driven consumers; digital content of substance, therefore, is needed to drive prospects into investors.
Value to the owner
The analytics a website can offer is its key benefit. An investment in good data and digital marketing automation enables a firm to better direct resources for the best return on time and effort.
There is a measurable ROI when a firm can track the behaviors of the people who receive their emails and visit their websites. They can know by page what visitors are looking at and how long they stay. With this data, the firm can hone both their target market and their message for more effective results.
Creating an advanced website need not be inexpensive and can be built in phases. When done properly, it can lead to lower overall marketing costs, and it could pay for itself with the first incremental increase in revenue that it generates.
Stay tuned for our fourth installment: Content Is Still King
The full report is available for download here.