The medium is not the message
(Or why social media is the last thing asset managers should worry about)
Spurred by breathless headlines and a multitude of social media consultants bearing free webinars, asset management firms can’t help but wonder if they should be opening a Twitter account. But the foundation of successful investor and advisor communications will always be an authentic brand message delivered with a strong voice, engaging visuals, and compelling proof points. Firms that place the medium ahead of the message are making a big mistake.
As the financial industry’s creative partner, Wickware Communications is often approached by investment firms seeking new websites, brochures, ad campaigns, and social media strategies. The trouble is, in order to communicate effectively through any of those channels, it’s essential to have a strong message first – the core story that helps people understand why you do what you do, what makes you different and better, and how it helps your clients.
To elaborate on this point, we analyzed 150 North American asset managers with $10 billion or more in assets under management to identify best practices in brand messaging that firms of all sizes can use to earn a better return on their marketing dollars.
Here are some of our key findings:
1. Speak to me. Just 24% of asset managers are creating an interesting conversation across multiple communication channels. Most drone on about themselves using generic industry jargon instead of engaging the audience with stories that intrigue and connect.
2. Visually engage me. We found 76% of asset managers stick to recycled imagery and bland colour palettes when it comes to visual design. Few are using focused and appealing graphic design to create differentiation and help their busy audience quickly grasp ideas.
3. Help me believe. Asset managers excel at providing graphs and spreadsheets to support their point of view, but only 35% are using tools such as video, graphics, anecdotes, and examples to help the audience understand and believe in their story.
At Wickware Communications, we believe a well-developed story delivered through even one communication channel is worth a million Tweets. A good story, consistently told, can help you strengthen your firm’s culture, build greater brand awareness, work more efficiently, and gather more assets. So download the report, sit back and soak it in.