Marketing is more than a support function in investment management; it’s a growth driver. In our podcast The Growth Engine, we spoke about this to industry experts Andrew Kelly and Andy Johnson. Listen in to find out how marketing can help you stand out in a crowded market and build long-term client relationships.
Know Your Audience
One of the key parts of successful marketing is knowing your audience. As Andrew Kelly said, “Know your audience and walk a mile in their shoes.” This is especially true in financial services where your clients can range from seasoned investors to those just starting out.
When you understand the different needs and preferences of your audience, you can craft messages that resonate. In today’s world where retail clients are becoming more important, it’s easy to forget that this is not a one-size-fits-all market. Some retail investors will have a deep understanding of financial products, others will be new to investing. By explaining complex ideas in simple and relatable terms you can connect with clients and build trust.
Marketing and the Business
One of the biggest challenges investment firms face is showing how marketing impacts the business strategy. When marketing activities are standalone campaigns their impact is diluted. As Andy Johnson said, “When marketing activities are lumped together under generic budget lines their true impact is lost.”
For marketers to be given the recognition they deserve they need to show clearly how their activities align to the firm’s growth objectives. This means going beyond traditional metrics to focus on long-term brand equity and customer engagement. By using data analytics, marketers can demonstrate the return on investment (ROI) of their activities and help stakeholders see the value of long-term marketing.
Client Relationships
In a digital-first world, client relationships are a team effort. As our podcast guests said, “Clients shouldn’t be owned by an individual; they’re owned by the firm.” This mindset shift creates stronger client loyalty and a unified approach between marketing and sales teams.
A collaborative approach means marketing teams can support sales. By understanding the challenges sales teams face in client interactions, marketers can create content that empowers these professionals. This alignment means a consistent brand message across all client touchpoints.
And investment firms need to use digital marketing to reach clients. Andrew Kelly said, “The only way to reach them is through good digital marketing and having a digital presence that communicates to them the way they like to be communicated with.” Investing in digital capabilities is key to engaging and building relationships with clients over time.
Be Different
In a world of financial products and services, you need to be clear on what makes you different. Differentiation is key; you need to communicate your unique value proposition.
This differentiation means more than just promoting products; it’s about telling brand stories that resonate with clients. Marketers need to communicate how their firm’s values, mission and expertise align with client needs and aspirations. By sharing authentic stories that demonstrate a firm’s commitment to its clients, marketers can build deeper connections and trust.
And a customer-centric approach to marketing is key. By shifting from a business-to-business (B2B) mindset to a business-to-consumer (B2C) approach, firms can engage with retail clients more effectively. This means understanding the emotional drivers of investment decisions and addressing them in marketing communications.
Measuring Success Beyond ROI
While sales are important in the short term, investment firms need to prioritise long-term brand resonance and customer engagement. As Andrew Kelly said, “Year-on-year investment in things like content and brand is mandatory.” Building a brand takes time and consistency.
To measure the success of marketing initiatives, firms should consider a range of metrics, including customer satisfaction, brand awareness and social media engagement. This wider view of success means marketers can show the value they bring to the firm’s overall strategy.
As marketing evolves in the investment world, firms need to acknowledge its importance. By knowing their audience, integrating marketing into business strategy, being collaborative, being different and measuring success beyond immediate ROI, investment firms can use marketing as a growth engine.
Listen to The Growth Engine podcast:
For more insights from other marketing leaders, check out our latest podcast episode. You’ll hear stories from the front lines of financial services marketing and practical tips to take your strategy further.
