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Mutual Fund Marketing and Branding – Building More Effective Materials
Mutual funds are like any other product. While certainly ripe with operational complexities, they have a target market, fill customer needs, create customer benefits and are subject to intense competition. Customers, in this case investors, advisors and institutions, have a wide range of options when choosing a mutual fund strategy or a portfolio manager to fill an investment or asset class need. And, with over 9,350 funds in 2018, competition is certainly fierce. For every investment manager out there, the need for effective investment and mutual fund marketing strategies is critical for growth.
So, how can mutual fund companies with a unique investment strategy get noticed? The financial landscape is becoming even more competitive with the proliferation of exchange traded funds (ETFs) and the rising availability of hedge and alternative assets for the individual retail investors. In this competitive environment for financial products, mutual fund marketing and branding can make a huge difference.
Mutual Fund Marketing Strategies and Solutions
Obviously a strong sales team is needed to spread the word, but mutual fund companies also need strong branding and marketing to ensure the true benefits and key differentiating factors of each fund is effectively communicated. Every mutual fund company and each of their product offerings should go through a strategic branding and messaging exercise. This involves a detailed, thoughtful analysis of the target market, competitive landscape, messaging and an audit of current marketing materials for each mutual fund offering. This process is often enhanced by an outside-the-company perspective to provide an unfiltered view of current mutual fund marketing materials. If the marketing materials for your mutual fund say the same thing in the same way as your competitors, it makes it more challenging, even for a seasoned sales team, to truly differentiate the product while piquing the interest of new investors and advisors.
Performing a mutual fund marketing, branding and messaging audit can help product providers uncover a range of opportunities to build more effective materials and sales tools. Whether it’s updating messaging, improving design or reworking the information hierarchy, this process can be a powerful tool in helping mutual fund companies to arm and train their sales teams and deliver more effective fund introductions and presentations.
Three Key Areas to Improve Your Mutual Fund Marketing and Branding Efforts
1. The perception of your firm in the market – your brand.
Brands exist to help you stand out from the crowd. No matter what investment strategy you are using, there is plenty of competition out there. Your brand can work to your benefit by providing a great first impression which lays the foundation for trust to be built. But if your marketing message is saying the same thing in the same way as your competitors, it makes it more challenging, even for a seasoned sales team, to truly differentiate the product while piquing the interest of new investors and advisors.
Mutual fund companies need strong branding and to ensure the true benefits and key differentiating factors of each fund is effectively communicated. Every mutual fund company—and each of their product offerings—should go through a strategic branding and messaging exercise. This involves a detailed, thoughtful analysis of the target market, competitive landscape, messaging and an audit of current marketing materials for each mutual fund offering. This process is often enhanced by an outside-the-company perspective to provide an unfiltered view of current mutual fund marketing materials. A strong brand connection will create significantly higher willingness to purchase and willingness to pay a premium. With ongoing fee compression, this is incredibly valuable.
To learn more about branding, see our white paper.
2. Your Mutual Fund Marketing Materials & Website
Consistency is the name of the game. From your website to your presentation decks, it is extremely important to maintain a consistent and cohesive design scheme. This does not just mean the logo and colors. Design is an art and consistent column treatment, imagery, line spacing and visual rhythm make a huge difference. While investors typically may not even consciously notice or comment on mediocre design, the sub-conscious effect on their overall brand impression makes a difference. Delivering the highest quality design helps to reinforce the idea that you are a sophisticated asset management firm offering high-quality products.
How you communicate, both digitally and in-person, is also important. Your website should discuss the same unique benefits and valuable qualities of your strategy that your portfolio manager and your sales teams pitch on a daily basis. Consistency helps to build trust and trust is how you will win more assets.
3. A Strategic Approach to Mutual Fund Marketing Efforts
Mutual funds are not a ‘build it and they will come’ type of product. Mutual fund marketing is something that you have to approach in a strategic and thoughtful way. We work with mutual fund clients, helping them maximize their exposure, drive more traffic through their sales funnel and explore new channels. From thought capital and mutual fund content marketing to email campaigns and conference circuits, there are numerous avenues to explore in marketing your mutual fund.
Performing a mutual fund marketing, branding and messaging audit can help product providers uncover a range of opportunities to build more effective materials and sales tools. Whether it’s updating messaging, improving design or reworking the information hierarchy, this process can be a powerful tool in helping mutual fund companies to arm and train their sales teams, deliver more effective fund introductions and presentations and ultimately grow their AUM.
Learn more about focused mutual fund marketing and branding efforts to differentiate mutual fund products and drive more asset growth. Whether its small adjustments to your marketing strategy or a whole rebrand and overhaul of your mutual fund, we are here to help. Talk to us and let’s see how we can improve your mutual fund marketing efforts.