October 15, 2007
We Want Your Input
We believe marketing can, and will, make a larger strategic impact in the financial service industry. However, that role will not be automatically handed over to us. We must take the initiative and pickup the reins of leadership. To that end, by sharing ideas and thoughts we can all benefit from each other’s knowledge and experience. So, join the discussion and share your opinions.
In your opinion, what are the key marketing challenges facing the financial service industry today? And, how do you think we can overcome them?
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4 Comments currently posted.
Anonymous says:
BBarsanti says:
The days of promoting the genius superstar fund managers are over — too much “them” vs. the firm’s disciplined process, which firms want to avoid now since the assets tended to follow the free-agent fund manager out the door to their next gig. So what’s the need for marketing? When your firm has killer performance in a favorable asset class (which will never last forever) you want to be best poised to take advantage of that huge selling opportunity. Without smart marketing, no way your firm maximizes its results.
Anonymous says:
Yeah great performance is what everyone wants, but the days of promoting the genius superstar fund managers are over — too much “them” vs. the firm’s disciplined process, which firms want to avoid now since the assets tended to follow the free-agent fund manager out the door to their next gig. So what’s the need for marketing? To best take advantage if you get killer performance in a favorable asset class (which will never last forever). Without smart marketing, no way your firm maximizes its results.
Anonymous, the Lesser says:
Fascinating set up, yin v yang, sales v marketing, hatfield v mccoy…
It’s a conundrum - who leads the charge? Perhaps brand is better developed from the bottom up v the top down or vice versa. Perhaps marketing-led firms ar ebetter off than sales-driven. How do you ditch the performance argument when the hero/villain mentality pervades every corner of this industry.
There’s no one right answer, unless that answer starts with American and ends with Funds. Perhaps the fact that’s there no one right answer is the right answer.
Sincerely
Grasshopper.
The problem in the industry is that fund managers are geniuses, and obviously clients will want to invest with a genius. What’s the need for marketing then? It’s enough to hire a few wholesalers to bring the disciples aboard.