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Asset Managers General

One-Hit Wonders

What does this list have in common: Carl Douglas, Los del Rio, Soft Cell, Vanilla Ice and Wild Cherry?

They’re all “one-hit wonders”. They all have a song that we know, like Kung Fu Fighting, The Macarena, Tainted Love, Ice Ice Baby and Play That Funky Music. Those were their big hits – and they never had another one.

So what’s that have to do with alternative investments and asset managers?

One-hit wonders are advisors who do one trade with your product, and they never do another one. We know they have done a lot of research on your company and your product, they’ve completed the paperwork, and they found enough value to invest a client’s assets. So, why would they go through that entire process and do one trade and not another? The reason isn’t always clear, but the good news is we can do something about it.

Let’s talk about ways we can turn a one-hit wonder into a loyal producer for your firm.

Have a System in Place

When an advisor makes a trade, make sure you have a system set up where you thank them. Send them an email, thank them for their trade, and also highlight why they invested in your product. Give them your value add and what you plan to deliver to investors.

You also need to regularly check in with advisors. Set up a schedule after the first sale to check in with advisors at 30, 60 and 90 days or every quarter. A streamlined way to manage this is through marketing automation.

Have a Conversation

Even after – or especially after – an advisor has allocated a portion of a client’s assets with your firm, your sales team should continue to have conversations with them to understand their latest thinking about your company and product. And make sure you arm your sales team with a list of who is a one-hit wonder, so they understand where an advisor stands and that they may need additional support telling your investment story.

Always keep that dialogue open, that’s where you’ll learn why a second trade hasn’t been made. If your sales team is having that conversation, they will be able to better understand why an advisor only did that one trade and it will help you fill in the gaps.

If you would like to discuss how we can help you convert one-hit wonders into loyal producers, contact us at info@marketingintent.com.

Categories
Asset Managers

On-Demand Webinars

What’s the first thing you think of when you think of on-demand webinars? It’s likely that you think of a replay distributed by email. On-demand webinars are replays, but they can be a lot more than this.

The process to create a webinar is also extensive. You’re scheduling time with executives, developing and completing presentations, routing through compliance, scheduling invites and developing a follow up plan.

With all this work, why not elevate your final product for more than one webinar?

Maximize Your Webinar

The first thing to do when you’re thinking about a webinar is identify the topics. What do people want? What are you hearing in the field that advisors want to hear more about? Is it always about your product? Is it educational? Is it both?

Do they want a webinar series? Can you split one large webinar into three small webinars to make your content go further? And take a deep dive into what you’re doing? Maximize it since you put all that effort into creating the webinar and getting speakers lined up.

Develop Strong Visuals

When people are attending webinars, they want to be intrigued. You have to keep their attention. So, if you have a presentation up and it’s a bunch of words, everybody’s likely tuning out and nobody’s listening. They may read the words, but they may not. And they are likely doing something else as well while attending your webinar. You have to grab their attention with strong visuals, video and easy-to-understand wording.

Using Technology to Your Advantage

Finally, be sure you’re ready to use technology to your advantage to create your on-demand webinar. There are platforms where you can upload a webinar recording. You can then set a schedule, so it gives off the perception that it is a live webinar. You can send out an invitation with simple wording like, “Please sign up for our webinar. It’s next Wednesday at 2:00 p.m.” 

What your audience doesn’t know is that it’s every Wednesday at 2:00 p.m., and it looks like advisors have easy access to your management team.

You’re able to see if advisors register and if they attend. You can automate your follow up procedures and your sales team has a reason for a follow-up call with the advisor.

If you would like to learn more about how we can help you maximize your webinars, please contact us today at info@marketingintent.com.

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Asset Managers Featured

Participating and Planning

How great does it feel to be asked to participate in a task force to plan an industry conference?

Pretty darn great.

Planning the Summit Conference

That’s how Cherie felt when Stacy Chitty from Blue Vault, asked her to participate in the task force to plan the upcoming Blue Vault Bowman Alts Summit 2023. This conference is focused on alternative investments.

We’ve been hearing for a long time that the 60/40 portfolio is no longer working. Alternative investments are the way to help the financial industry break out of that mold…although it’s been a bit slow moving to do it.

A Wide Range of Alternative Investments

What we’re doing on the Alts Summit task force is looking at the different types of content that advisors need to know to understand alternative investments. This includes making sure that a wide range of product sponsors are present at the conference. It also includes making sure that whether an advisor is new to alts or has been offering them for some time, there are educational opportunities for everyone.

In addition to product sponsors, we’ll be hearing from industry experts on topics like technology, compliance, and marketing in relation to alternatives, as well as advisor practice management. 

Register Today

If you haven’t registered yet, plan on joining us in Atlanta, March 6th through March 8th for the Blue Vault Bowman 2023 Alts Summit.

We look forward to seeing you there and helping you learn more about how you can incorporate alternative investments in your practice. Register now.

Categories
Asset Managers

Your Marketing Strategy

According to a recent survey from LC Kirk & Company, twelve to eighteen months is the amount of time it takes an advisor to learn about your offering before they make an allocation to it. For some sponsors, especially new ones in the commercial real estate and alternative investment space, that can seem like a very long time.

How can we shorten that long sales cycle? The answer – sync up your sales and marketing.

Shortening the Cycle

A lot of times marketing operates in a vacuum, and they don’t understand what the sales team is seeing in the field, the objections they’re facing, and the questions they’re getting from advisors. So, it’s important to open the communication channels between marketing and sales to help shorten that sales cycle and bridge the gap between what sales actually needs and what marketing is delivering.

Brand Awareness

Next, you should focus on brand awareness. Make sure everything is synced up across the board from email, to what you’re doing at conferences and how you’re helping advisors understand what you’re doing. Some firms feel hesitant about emailing, but email is a great way to increase brand awareness about your firm and offering. Building a strong brand helps build trust and break down barriers for advisors in looking at and completing due diligence on your firm.

Boil Down Your Story

It also helps shorten the sales cycle when you communicate what you do and the details of your offering in a simple way. Get away from complicated jargon. Advisors are not going to dig into what you’re doing if they don’t understand it immediately. Make sure you’re boiling down your story into digestible chunks, so it’s easily understood. That could be anything from the demand drivers behind your commercial real estate assets or lifestyle trends that are driving demand, and what supply looks like.

If you need help syncing marketing and sales, raising brand awareness, and boiling your story down into something that’s easily understandable, contact us at Marketing Intent. We’d be happy to help you shorten your sales cycle.

Categories
Asset Managers

The Importance of Communication

Everybody understands the importance of communication in projects, in your day-to-day, in work life and in everything that you do. But sometimes the effectiveness of our communication gets lost in the shuffle.

Let’s talk about how to emphasize open communication with clients.

Focusing on Communication

As a marketing firm with multiple clients, we have to focus on our communication. It has to be at the forefront of every morning, every evening and every week of what we do. Let’s go over some of the things that we do at Marketing Intent and review some options on how you can help improve your communication.

One of the first things that we do is hold weekly status updates. Every Monday we get together with our internal team and go over every single project, even if we’re not involved, that way we understand what’s going on. If one of us needs to be pulled in, or if we can offer some insight, we do.

Providing Weekly Email Updates

The other thing that we do is provide weekly email updates. If something’s changing throughout the week and we don’t have a meeting on the books, a quick way to update everybody is through an email. We really focus on making sure that we’re keeping everybody included and aware of what’s going on, even if it’s not time for a meeting.

The Best Way our Clients Receive Communication

When we bring on clients, we follow our onboard process and start off every client the same. Each client starts with a weekly project meeting and then we will also provide weekly status emails, but that doesn’t always work for everybody.

We tune into how clients best receive communication. We may have a client that likes to text, we may have a client that prefers phone calls, or we may have a client that loves emails. As we’re onboarding, we analyze the way that they are receiving our information and we adjust and tailor our communication specific to them. 

We are providing them with the most effective communication that is shareable with key stakeholders that is effective and easily digestible. This is a great way to help smooth out their process for projects and keep everybody in the know, so that there are no surprises that come up.

If you would like our communication experts to make sure your next project runs smoothly, please reach out to us at Marketing Intent.

Categories
Asset Managers

Marketing Intent and the Resources We Have Built

Let’s talk about how Marketing Intent is structured and the network of resources the firm has built.

Cherie Fournier, our CEO, has been in the financial services marketing arena for 25 plus years. After working in corporate environments for most of that time, she decided at the beginning of 2020 to start her own marketing firm.

Marketing Intent focuses efforts on helping asset managers market to their target audiences. We also help streamline their marketing operations and develop plans and strategies.

The Thinking Behind Marketing Intent

The reason we started Marketing Intent in 2020 is because we wanted to tap into our financial industry experience to serve a wide range of companies. But we knew we weren’t experts in all facets of marketing. We’re not graphic designers or web developers, and we know our clients have a broad range of marketing needs. We felt it was an ideal time to tap into the gig economy, which has gotten even more attention after COVID. People started working from home and seeking better work life balance.

We found ourselves with a lot of great talent available to us to build out a network of professional marketers who could help our clients. For example, Cherie’s background is marketing management, strategy and copywriting, and Alise’s is marketing strategy and project management. Obviously, marketing goes far beyond that. Our professional marketing network helps us offer our clients a much greater bench depth of professionals to help with their projects and make them successful.

Our Network of Professionals

We structured Marketing Intent around these networks of professionals. Cherie and Alise are front and center with each of our clients. We look at our network and choose the right professionals for each project, and each client.

If we have somebody who’s looking at rebranding and doing a website, we may pick a design resource that might be different than a firm that is just redoing a brochure or wants to freshen up something that’s existing. We look at who is going to be the best match for each project and we deliberately select the best team.

How We Developed Our Network

Throughout Cherie’s career, she has had many relationships on the client side of working with different professionals. Marketing Intent has tapped into those cultivated relationships. Some are are decades long and other resources are newer.  We continually look at contacts and see who we can get connected with to grow our base of professional marketers. We are never static. We’re constantly growing and constantly looking for new people to add to our roster of contract resources.

The Ever-Changing Market

Sometimes we have a client that needs a resource that we don’t have. Marketing is ever changing as we know, and we don’t always know what is going to come our way or what type of requests are made. Often, if we have a request come up on something that we haven’t yet done, we tap into our current contacts to see if they have a trusted resource that we can use for a project. If not, we do research and vet different companies to see which ones are going to work well with us and who is going to serve our clients to our standards. We then bring that firm or individual on board as a contractor to help us with a certain project.

If you would like to learn more about how Marketing Intent can help your business grow by tapping into our network of professionals, please reach out to us.