The task of transforming complex financial products into targeted marketing messages isnt an easy one, but its one that financial marketers face every day. Add to that the need for strict regulatory compliance, and the fact that the target audience in question has been left with serious doubts surrounding the banking and financial system of late, and you begin to see just how tricky a task financial marketing can be.
However, its not all doom and gloom. The rise of the internet and social media has transformed the world of marketing, and brought an arsenal of new and exciting financial marketing tools with it. Web analytics, data software, and social media platforms have give todays asset management marketers the ability to hone their craft. Their marketing messages can be distributed more quickly, be better targeted and far more engaging as a result.
So, despite the daily issues, the latest marketing innovations mean that asset management marketing is now more effective than ever, provided marketers utilize these new tools correctly. Were going to take a look at the latest innovations here, in our A-Z guide, which will help you get your head around whats making asset management marketing tick.
Turn up the Amplification
We all know what amplification is in the traditional sense. Amplification helps us pump up the volume. Turn your amps up on stage, and your band will reach a bigger audience. This is what the amplification marketing process seeks to do in the online sphere. Amplification is the rate at which your brands followers share your content with their own network.
In essence, your followers are your amplifiers, spreading your message far and wide. On your blog, that means the number of shares any of your posts achieves through any other social channel, while on Twitter its a simple case of how many retweets one of your posts gets. Making a big noise about your brand is one thing, but its the size of the audience that really counts.
Watch that Bounce Rate
One of the major tasks of any financial marketer is to attract visitors to the brands website or social media channel. But it doesnt stop there. Once youve succeeded in drawing visitors to your content, you want them to engage with it, not browse elsewhere after viewing only one page. The bounce rate is the term we use to describe exactly this phenomenon, so you want to keep your bounce rate as low as possible.
Whatever your sites bounce rate, its a hugely valuable indictor as to just how engaging, or otherwise, your site and its content is. Your bounce rate will tell you how effectively youre communicating, and which areas of your site need a little work. Making changes to content and measuring the results can help you learn, optimize your website, and direct users towards important pages where ads are running.
Get more from your audience with Call-to-Action
When youre looking to interact with your audience call-to-actions are essential. Want more feedback or responses from your websites users and viewers? A simple CTA can work wonders sign up!, share, download, contact us is all it takes. CTAs can encourage sharing, downloading and more. So CTAs may appeal to your own target audience than others, so it pays to test a few out and monitor results.
Ditch the dodgy Data
Nobody likes data errors. Your customers certainly wont, as dodgy data only wastes their time and your money. Before you start any campaign, make sure your database is up to spec, error-free, without any duplicate records, and that its segmented by customer too.
Engage, engage, engage!
One of the key marketing buzzwords of the social media age, engagement is what asset management marketing is all about. Think about it. What use is your content unless your audience engages with it. You dont want content that can simply be ignored. By creating content that is engaging, practical, interesting and truly focuses on your audience needs, youll attract more customers. By encouraging them to engage with your content, by asking them for their feedback for example, you help to establish a relationship between you and your audience. Not only does this build trust, it also allows you both to learn more about each other its mutually beneficial.
Always Follow Rules
The financial service industry is tightly regulated, and rightly so. While regulation requirements can change on what seem like an almost daily basis, and as tiresome as this can be to keep up with, it really is essential that all regulatory requirements are met. The cost of failing to comply is simply too high, so a little legwork in the planning stages neednt be seen as a chore. Make use of automated tools, and ensure that communication is smooth between marketing and compliance departments for an easier process.
Boost your profile with Google Authorship
When you write something thats published on the web, it can seem like your small voice is lost out there among millions o others. Thats why Google launched Google Authorship. Its an online tool that connects content with the person who wrote it. Its great for content authors, but also makes it easy for readers to find all of your content at once, accessing relevant information and following a voice that they trust more easily. Linked to your Google Plus profile, its a must for anyone publishing financial marketing content online, adding credibility and boosting your online presence instantly.
Use Hashtags to give your tweets more power
If youre unfamiliar with the Twitter hashtags (#) phenomenon, then you need to catch up, and fast. Hashtags work by turning any word or phrase into a searchable link that helps users find all of the content on Twitter related to a topic. Youll often find hastagged words and phrases on the trending list, and by using a hashtag you can actually boost retweets by up to 16%. Its a great way to promote your own content or opinion, but also a fantastic way for you to join the conversation and have your voice heard on trending topics too and you just might start a hashtag trend of your own.
Constantly increasing your Inbound Links
Heard about inbound links? These happen when any other website online links to content on your own site. Consider them the internets version of a hat tip. As well as providing you with a little ego boost and a nice bit of acknowledgement, theyre also what search engines use to rate just how valuable your content is on the web. Inbound links from high-ranking, reputable websites can improve your search engine ranking in a big way, so theyre vitally important and something that any company should strive for. The higher up those rankings you climb the more web traffic is driven your way via organic search.
Follow your clients Journeys
Not just a word that you hear constantly on reality shows, but also a word thats used within the marketing sphere to describe the integration of several marketing processes into one. Asset management customers are savvy buyers, and their sophistication means that its vital to track their buyer journey. Evaluating each stage of their journey, from their initial consideration through to closure, and on into post-purchase loyalty is now a vital part of the asset management marketing agenda. Marketing, engagement and sales functions are streamlined into a single process rather than a series of operational functions.
Keep and eye on Keywords
Keyword rankings are key for several reasons. First of all, in terms of search engine performance. Editing your content to include certain keywords that your audience is most likely to search for will boost your sites performance, but its also important to remember that youre writing to attract and appeal to human clients, not a search engine algorithm. Research which words clients Google for. Itll also help you to keep the right tone and connect better with your potential client base if youre speaking their language and communicating in keywords and terms they use regularly.
Theres no escaping the lure of LinkedIn
Want to know how many US asset managers have a LinkedIn profile? 94 per cent of them. Three quarters of US asset managers also claim that when it comes to choosing their preferred social marketing channel, its LinkedIn every time. These numbers speak for themselves, so its vital to set up a company profile, get linked-up with LinkedIn users, join groups, create your own, and share your blog posts via LinkedIn too. Its a great way to boost your profile in the right place, with LinkedIn providing a business setting and business audience from the outset, as opposed to catch-all platforms like Facebook.
Let the software do the legwork with Marketing Automation
Youll now find a whole host of marketing software tools that can help take the sting out of those repetitive marketing tasks. Who isnt searching for a quicker and more effective way to carry out automated marketing processes? The tech geeks have come to the rescue here, with solutions like Act-On, Marketo, Pardot and Hubspot, which can help you track content and carry out drip email campaigns, for example. Theyre all valuable ways to keep the automated aspect of marketing within easy, cost-effective control, giving you time to devote more time and resources to your more promising prospects.
Get involved from the start with New Product Development
When it comes to developing new products, you cant underestimate the beneficial role that marketing can play. Involving marketers early throughout the whole product positioning process, from design, through branding and finally on to the marketing of a product, is the only way to ensure that youre creating products that are truly in sync with your clients. Marketers can use their skills throughout the development process to simplify, refine and focus a product to better suit the target audience.
I am a writer based in London, specialising in finance, trading, investment, and forex. Aside from the articles and content I write for IntelligentHQ, I also write for euroinvestor.com, and I have also written educational trading and investment guides for various websites including tradingquarter.com. Before specialising in finance, I worked as a writer for various digital marketing firms, specialising in online SEO-friendly content. I grew up in Aberdeen, Scotland, and I have an MA in English Literature from the University of Glasgow and I am a lead musician in a band. You can find me on twitter @pmilne100.