How to improve brand awareness for asset managers
Recently, a Global 100 report found that the largest asset managers globally (54%) are continuing to experience stagnant or declining brand awareness for the fourth year in a row. More concerning is that asset managers are struggling to optimise their online assets, with 81% of them having no positive media coverage and instead displaying significant negative coverage on Google’s first page of results. Here we break down how your asset management firm can gain brand awareness and build a positive brand image.
Brand awareness: becoming memorable
Building a strong brand image is vital to the long-term success of your asset management firm, but it can take time to achieve. Today, asset managers are fighting for attention in a saturated market and it can be challenging to differentiate your brand from another. However, it’s critical that you do. There are three ways your asset management firm can improve brand awareness and optimise your marketing strategy:
- Create a distinct brand image – There lacks a variety in how asset managers describe and build their brand image. In a Peregrine study of 100 asset managers, it was found that the same each manager used the same 10 keywords in their brief ‘elevator pitch’. Additionally, according to an analysis by Dun and Brandstreet, 57% of the top asset management firms describe themselves as “client-focused” and “transparent”. Developing a set of core messages and marketing materials that reflect the uniqueness of your brand will go a long way in ensuring your asset management firm stands out from the crowd.
- Storytelling – Storytelling is one of the most powerful ways your asset management firm can build brand awareness. Storytelling enables your brand to connect with investors and form authentic relationships with them. Incorporating storytelling into your marketing strategy, enables your fund to move away from the bog standard performance angle to one that’s more ‘human’ and includes greater depth.
- Build an always-on content strategy – At the end of the day, you can’t expect one brand message or piece of content to lead to customer acquisition. It takes time and multiple instances of clients viewing your content for them to remember your brand and associate it with certain things. Focusing on building an always-on content strategy is vital to nurturing leads and building a strong presence within the industry. Recognising and identifying your audience and creating targeted content for them is key. As Andrew Frith, Social Media Director at The Dubs, asserts “an always-on content program is a way to build trust and interest in your finance brand by providing high-quality, useful content on a regular basis.”
Benefits of building brand awareness
The largest asset managers globally (54%) are continuing to experience stagnant or declining brand awareness for the fourth year in a row.
Building strong and positive brand awareness has several benefits. At the heart of it, brand awareness is vital as it represents how well your target investor and the client know your firm.
- Improves trust – By offering a face and presence to your fund your target clients can trust you more easily.
- Builds brand equity – Creating positive brand equity amongst clients will ensure that they consider your brand first when investing, as well as continue to recognise it more often in articles and associated content.
- Fosters an association – A strong content marketing strategy and brand image can help ensure that when clients think of asset managers or investing they think of your brand first and foremost.
Final tips and tricks for asset managers
At the end of the day, one of your asset management firms’ biggest challenges is building strong brand awareness and a positive brand image. By optimising your content strategy and focusing on building authentic connections with clients and leads, you can begin to improve your brand awareness.