Asset managers need to place greater trust in the intelligence of the LP community.
Three words… THEY… GET… IT.
Does BMW run around telling people that their cars run well, of course not? The message has evolved beyond the obvious. For BMW to maintain their position in the industry their cars need to run well. Everyone assumes they run well. If their vehicles are subpar, BMW won’t be able to maintain their position in the market – it is as simple as that.
This is analogous to asset managers running around telling LPs that they “manage risk.” In today’s day and age, it is simply assumed that any legitimate asset manager will astutely manage risk. Stop being so damn literal. It is holding you back. If you don’t manage risk well, you won’t be around long.
When it comes to marketing, asset managers need to be brave enough not to focus on the obvious. We manage risk… too literal. Our strategy is non-correlated to the S&P… not engaging. We are a quantitative _____________ … so what.
You need to say something. Describing what you do or what you are, isn’t “saying” anything.
Just do it -> something
We are shoe company -> nothing
Yes, you eventually have to describe what you do and how you do it, however, marketing requires patience, create some intrigue and trust the intelligence of your audience to engage. It is human nature to want what is elusive.
To achieve marketing greatness, focus more on what is not being said. Move away from literal descriptions. Build language and use imagery that is inspiring. Be interesting. Say something. Most importantly, commit. Going half way doesn’t work.
By Kyle Dunn