Tag: Prospects

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506(b) 506(c) Private placement

Why Hire a Marketing Firm for a 506(b)? 

Some firms offering 506(b) private placements wonder why they would hire a marketing firm. While a 506(b) can be very limited on how you can market the offering, there are a number of ways you can stay in front of financial advisors with compliant marketing, and market your firm and expertise. 

We Collaborate with Compliance and Legal Teams  

At Marketing Intent, we collaborate with your compliance and legal teams to understand what they are comfortable with in marketing your 506(b). While there are (many!) rules to guide us, comfort levels range as do the “whys” behind a compliance or legal team’s stance on a marketing approach or messaging. Understanding the compliance/legal perspective and any sticking points helps us set the stage for a marketing campaign or materials that are going to make it through the compliance review process and become a reality.  

Start from the Ground Up 

While there are many limitations on marketing a 506(b) itself, you still have much to market and talk about with advisors. Many firms offering private placements are smaller and may not have brand recognition within financial advisors. That is priority #1. You must build trust with advisors. Raise brand awareness by attending conferences and sending pre- and post-conference emails and sharing posts on social media. No mention of your offering – just your firm, your asset class and key differentiators. 

Asset Class and Offering Type 

Next up is your asset class. How can you make sure advisors know what you invest in? You want them to think Firm Name = Asset Class. Describe your asset class in terms that are easy to understand and grasp. What lifestyle trends affect demand for your asset class – bring those to light. Then think about your offering type…what education can you provide advisors on how that structure works and how it benefits clients? While advisors are analytical, they still need education – and they still have the same 8-second attention span as the rest of us…so keep it jargon-free and short.

Marketing Intent is skilled at helping firms offering 506(b) offerings market in collaboration with compliance and legal teams…and helping asset managers gain the brand awareness that starts sales conversations. Contact us to learn more about how we can help your firm.  

Categories
Email

Email Is Not Dead

Did you know email is not dead? It just needs to evolve.   

Evolving Your Email 

We recently learned that wifi wasn’t initially adopted. With the obsession to find a wifi network, get a wifi password and check to see if a location we’re vacationing to is wifi friendly, this is surprising. But the reason why is because the icon that you click on to get to wifi was static initially so people ignored it. Once the icon became dynamic, people adopted the technology far more readily and started to seek it out. Email is much the same way. 

For example, in an email promoting a webinar, there’s often a static “Register Now” button – and no movement. To engage more people, this button can be flashing to get them to notice it and take action. Or within the email, movement can be added to garner attention in other ways too…like a reel of photos going across the top, animated gifs.  

Completing Actions Within the Email 

Another way emails are evolving is by adding actions that can be completed within the email itself. We’ve gotten away from “Click Here” or “Go to another page” because nobody wants to take the time to go to the other page. They want to do what they need to do within the email now. Email automation systems have evolved to help support this trend, offering new ways to keep email effective and vibrant.  

Despite marketing trends and fads, email has shown it has staying power. It just needs to continue to evolve to keep advisors’ attention. 

If you would like help evolving your emails, reach out to us at Marketing Intent. 

Categories
CRM

Using Your CRM to Help Build Advisor Relationships 

It’s time to ditch the Excel spreadsheet. Let’s talk about CRM systems, why they’re important and how they’re beneficial to help build relationships with advisors. 

The Purpose of a CRM System 

Your CRM system should hold all the information you need about your prospects and your clients to build your relationship and track interactions. Personal information, trade information, sales interaction information, marketing engagement information, meetings. All of this should be right at your fingertips and easy to navigate to provide an overall picture of each advisor.

Go Beyond an Excel Spreadsheet 

Gone are (or should be) the days of tracking advisor contacts and activity in an Excel spreadsheet. Adopting a CRM adds efficiency to both the sales and marketing processes. And the choices for CRM systems today have increased. While Salesforce is still the leader, there are many other systems available that can be equally effective – like Hubspot for example.  

CRMs Can Enhance Marketing 

Today, CRM’s are integrated with email marketing systems so they capture the emails you’re sending out and an advisor’s interaction with those emails. Did an advisor open the email? Did they click on a link? Which email topics do they tend to open more frequently? What does that say about their propensity to invest clients in your fund? In your CRM, you’ll get a really good picture of advisor activity and you can start nailing down what types of activity indicate an advisor is a top prospect for your firm so you’re not spending valuable sales time on advisors who are not strong prospects. 

Garbage In, Garbage Out 

An important aspect of CRMs is the quality of your data: “Garbage in, garbage out.” So be on top of putting high-quality information in your CRM and keeping it updated and clean. This goes for mass updates you may make to the CRM as well as updates the sales team makes one-off on individual advisor records. When did sales meet with an advisor? What did sales talk about? What were the results? When should the advisor be contacted again? What did sales learn personally about the advisor? Did they provide any personal tidbits sales should come back to? This helps build trust and rapport – for example: “Hi, John, how’s your son doing? Last time we talked, he just had surgery.”  

Advisors are in the relationship business themselves and love personal touches. Your CRM system can make it easy for you to record personal information and drive personable conversations. This will help build trust, and build relationships. 

At Marketing Intent we know how to develop a strategy to develop and deploy your CRM system. If you would like to talk about how we can do that for you, reach out to us. 

Categories
Copywriting

One Email, One Story, One Topic 

One email, one story, one topic. Let me break this down for you. Most asset managers use email quite a bit and we’re proponents for it, because we see it working effectively. But there are some keys to it that are very important to hone. Attention spans are limited. So make sure your emails focus on one story and one topic. 

What’s Your Story?

Every asset class has a story behind it – self-storage, industrial, multi-family, etc. And oftentimes, it’s based on the demand drivers behind an asset class. Or an asset manager’s investment approach. Which demand/supply dynamics or a unique take on an asset class could you educate advisors on? That is your story.  

Focus on One Topic

Now, boil your story down even further to one topic to help educate advisors. For example, choose one factor that drives demand or one unique aspect of your investment philosophy and focus on that.  

Avoid Jargon

As you write the copy for your one story/one topic email, keep it simple and easily digestible. Keep the jargon out of it. Avoid complex terms and superficial language (aka fluff) that doesn’t say anything. People have a very short attention span…don’t waste any attention your email may have garnered on an advisor deciphering what the text means. Keep language simple, and get right to the point.  

Keep It Short

Most emails should be able to be seen in their entirety on your computer screen. Don’t make advisors scroll…and scroll…and scroll to read the email. Engage advisors immediately with short, compelling content – strong copywriting and headlines – and high-quality visuals and you’re more likely to get them to commit to reading your email in full.  

If you need help making your emails more impactful, we’d be happy to help. 

Categories
Communication Marketing Basics

How to Make Your Firm Easy for Advisors to Work With

You’ve probably heard of CX, which is customer experience. But in the asset management world, it’s also important to think about the AX, which is the advisor experience. As you launch an offering or you continue to try to appeal to advisors, the easier you make it to work with your firm, the better.

Here are a few ways to make sure that your firm is being accessible and easy for advisors to work with.

Access to Your Materials

First of all, it’s important to make sure advisors can access your material easily, whether that’s on your website or through contacting your sales team. Same holds true for obtaining information about your firm. You don’t want advisors to have to go to your website and search around trying to find key pieces of information. It should be front center, clear and easy to find.

Access to People

Advisors are looking for access to people. Whether that’s that sales team and being able to talk to them on demand, or the management team – accessing them through events or even one-on-one meetings. Access to the humans behind the firm and the investment can be critical and important for creating a positive experience for advisors.

Updated Materials

Advisors need the asset managers they work with to be consistent in updating their materials. No one wants to invest a client in a product and then have only outdated information to provide status updates and answer questions. That is the signature of a bad advisor experience.

For example, the latest property acquisition should be front and center, easy to find, and current. This also helps create trust with advisors by showing them you are following through on your investment philosophy

Clear Communication

Finally, clear communication is essential both before and after an advisor makes an investment in your firm. Advisors need to know and understand:

  • Your story and your investment philosophy
  • How you approach doing business
  • How you operate
  • How you communicate with advisors and investors
  • What your statements look like (are they easily understandable)
  • What types of updates are you providing on an ongoing basis

All these things can help develop trust on both the front end, as well as after advisors and investors are invested in your product, which can then help perpetuate additional investments.

If you need help evaluating your strategy and the type of experience you’re creating for advisors, contact Marketing Intent today.

Categories
Email Segmentation

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
Webinars

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.

Categories
Marketing Management

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
Websites

3 Ways to Improve Your Website

Does your website provide a compelling journey for financial advisors, or is it a confusing maze of information? If you haven’t positioned your website as the start of your client journey, you’re missing out on a key engagement tool.

Below we’ll discuss three ways to improve your website and engage financial advisors to a greater level.

First, we’ll talk about how to design your website for financial advisors. Second, we’ll cover the information that will help them stay on your site longer. And third, we’ll discuss what you want them to do next.

Customizing Your Website

Let’s talk about customizing your website to financial advisors. In our industry, there are a lot of facets of business that commercial real estate or asset managers are involved in. There are different types of businesses, lines of business and investment strategies and sometimes we try to do a one size fits all approach to websites.

That can end up being too much information for financial advisors. So, it’s important to develop a specific path you envision advisors going down or develop a site that is specific to advisors.

Website Stickiness

How do you keep advisors on your website for longer? As you’re thinking about developing a site, think about what advisors want to know, their frequently asked questions and how to engage them. It’s a balance of giving them the information they need without providing too much information. Think about how to keep them engaged and capturing more of their time, so they go further and further into your content.

Tell Them What to Do Next

Finally, tell the advisors what you want them to do next. Do you want them to contact you for more information or to set up a meeting with your sales team? Make sure your calls to action are clear on your site.

We Can Help Improve Your Website

If you need help improving your website to engage financial advisors, please reach out to us and we’d be happy to help.

Categories
Social Media

Maximize Your LinkedIn Potential

What’s one of the first things people do when they meet you or see one of your posts on LinkedIn? They check out your LinkedIn profile.

Plan to use LinkedIn to its maximum potential to show your credibility and gain trust with prospects and clients.  

LinkedIn Newsletter 

A great way to do that is through the LinkedIn newsletter, which is a newer feature. It allows you to publish an article each week. And by doing that, you can stay in front of your prospects in a really easy way.  

First, think about what to talk to your prospects about. What’s a short and compelling topic? It doesn’t have to be a long white paper length piece of content. Next, think about your target audience and what they’re interested in learning about from you, what their pain points are or new information that might benefit them. 

Setting up Your Newsletter 

To set up your newsletter on LinkedIn, go to the same place you want to make a post.

  • Click on this prompt and there will be a section that says, “write article”.
  • Once you click on this function, if you have creator mode, you’ll have the option to create a newsletter.
  • A nice function with LinkedIn is when you create that first newsletter article, it sends a notification to all your first level contacts in LinkedIn and sends them an email to notify them you now have a newsletter and invite them to subscribe.
  • This is a great way to engage with every contact. Subscribers will be notified every time you publish a newsletter article. We suggest publishing a newsletter once a week.  

Using a Newsletter to Your Advantage 

How are we using the LinkedIn newsletter article? When we do the videos you see on LinkedIn, we’re turning them into our LinkedIn newsletter articles as well. It’s a great way to multipurpose content and use the LinkedIn newsletter articles to stay in front of your prospects.  

If you need help creating a LinkedIn newsletter article or want to explore it further, give us a call. 

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