Wow. I had an interaction at the recent Morningstar conference that was reminiscent of something I used to experience all the time back in the day.
“Um, what’s this?” I innocently asked, picking up an asset manager-branded—well, there’s no sugarcoating it—parasol.
“Oh, you know...Marketing,” said the Sales guy manning the booth and rolling his eyes at the same time.
Right. I remember those days when Marketing Communications' ability to contribute was so limited that we brainstormed giveaways, fretted over the size of the logo on the tchotchkes and then worried about their safe and timely passage from wherever they were manufactured overseas. It was a kind of work, we were doing what we could and yet I think we all knew that the results were lame. That kind of marketing didn’t mean much to Sales or to the business.
Benefit #1: Marketing Plays A Relevant Role
Nowadays my Sales interactions typically involve Sales and account teams eagerly collaborating with Marketing. Digital distribution enables us to communicate quickly, not in real-time but getting there. Far beyond the (still required) quarterly retrospectives, these new communications typically involve shedding light on something that financial advisors care about going forward, and need to understand now.
And, social media is increasingly being employed to amplify. Thanks to the heightened relevance of the content and broader visibility of it, asset managers' perspectives and visuals are making their way into online discussions (here's just one example) like never before.
The powerful combination of content marketing and social media is significantly elevating the return on firms' investment in marketing and its marketers.
Displaying the generosity that often accompanies a good year, Sales has been super-complimentary to Marketing for “getting the word out.” Ah, it feels good to be pulling your own weight, doesn’t it? It’s something the parasol producer has yet to experience but, I’m optimistic, will.
That's my personal view of how mutual fund and exchange-traded fund (ETF) businesses have benefited by adopting contemporary communication methods. (And, your thoughts are always welcomed!)
But check out the infographic below for a snapshot of the top benefits of social media marketing achieved in 2013, as described by 3,000 marketers from all industries. The infographic was created by Wishpond based on the must-read 2013 Social Media Marketing Industry Report, the fifth annual published by the Social Media Examiner.
More exposure, better marketplace intelligence, higher search engine rankings and Sales’ respect and affection—what’s not to love about how social media can help business?