If you’re thinking of launching a new fund, or already have one but aren’t doing any marketing around it, the following checklist has been pulled together for you from years of experience with working with managers across AUM sizes.
Here are the first 5 things that you have to consider:
1. Name and Logo
It may seem obvious, but is often overlooked.
a. Pick a name that is simple, memorable, and unambiguous.
Unambiguous? Get friends and family to tell you what they think of the name over the phone and ask them to spell it back to you. If a decent chunk of people get the spelling wrong, it might be worth re-thinking your firm’s name.
b. Consider not naming your firm after your own first/ last name.
It gets the word out initially, and creates immediate connection between you and the firm. But you’re ambitious and forward-thinking. Not long from now, you’ll have several employees at the firm but no matter what you do, people will want to speak only to you if it’s named after yourself.
c. Make sure it’s “available”.
Are you able to get a URL with the company name, a LinkedIn firm page, and other social media accounts?
d. Put effort into building a nice logo.
Your logo is the visual cornerstone of your fund’s brand.
Aristotle said: “the soul cannot think without an image”.
But for a logo to be successful brand, the fund has to be successful and still must perform first.
a. Make yourself exist.
Prospective LPs need a website to ‘check you out’. When you hear about the hottest product in town, you go online to learn more about why people are talking about it. In the past, people looked for phone numbers in the yellow pages. Today, search engines have replaced phone books as the place most go to for research and information.
b. It’s ‘you’ in an online, living and breathing form.
Even if your existing website isn’t a source of new business, it says a lot about the sophistication of your firm. If your website is listed on your business card, prospective LPs are already checking it out.
Note: You may need a geek to help you out with building a website.
a. Stop finding an excuse not to write.
People who run for President write books. Famous people write books and blogs to establish themselves as experts in their field. Think Robert Kiyosaki. Think Malcolm Gladwell. Then think again: for these two aforementioned people, what came first? Their works, or their fame? It can go both ways.
If writing doesn’t come easily to you, it gets easier.
b. Give yourself SEO authority.
Web crawlers (i.e. Google) look for fresh, new information on websites which match keyword searches. It’s a tall order to update your ‘How To Invest’ or ‘Who We Are’ page monthly, but having a blog – even if you’re only updating it 1x/ month – gives you extra opportunity to earn those SEO stripes.
c. Draw traffic to your website.
Much like the above, people won’t come back to your website to read the same ‘Who We Are’ page every month. But having new content gives you an excuse to send people back to your website, which in turn puts you on top of their minds.
d. Hold people’s hands and show them the way. Draw more traffic to your website.
There are singers in the world with voices as good as Frank Sinatra’s but they’re only singing in their showers because no one has ever heard of them. Send out a monthly email with a clickable link to your database of contacts and direct them to your website.
Note: You may also need a geek to help you out with these emails.
a. 1 minute of video > 1 minute of reading text.
According to Dr. James McQuivey of Forrester Research, the value of 1 minute of video = 1.8 million words.
b. It’s not that hard.
A 3-minute video is a good start. You might think, “that seems short?”. But that’s all you need for an audience that is busy, moving fast, and hard to captivate. Studies show that the majority of viewers tune out if a video exceeds 2-3 minutes anyway.
5. Web Analytics
Track which LPs are spending time on your website. Let technology identify prospective investors with the highest level of interest automatically.
Check out: www.meylerautomation.com
By Alan Chu