The power of “you” in a world that can’t stop talking about “me”. 16 August 2017
It’s time for asset managers’ websites to focus on their audiences.
We’ve all been there. You’re at a wedding reception, or a cocktail party, maybe a business lunch – or in my case the number 11 bus – and you’re sitting next to someone whose favourite subject is what they see in the mirror each morning. If you’ve a heart of stone or cojones of steel you’ll make your excuses and leave immediately. For most of us it’s awkward. If you’re kind, and most of us are, you’ll smile politely and stick it out. Because few of us like to cause offence – or get off the bus too early.
With websites or social media there are no such moral dilemmas; if something, or someone, bores you then you can click, close or swipe away.
In common with many other firms in the financial services sector, a lot of asset managers talk passionately about client focus. However, as our studies frequently show, this rhetoric is rarely evidenced in either website structure or digital content. The statistics are damning: Intermediary or adviser-focused propositions or statements of benefit are entirely absent in 85% of the 100 firms we rated. Only 32% of asset managers feature dedicated financial adviser or intermediary (FAI) focused content. Just 29% of firms feature FAI tools that can aid in easing the FAI day-to-day. Finally on social media, despite a over 70% of asset managers having Twitter or Linkedin channels, under 10% are dedicated to a specific financial adviser or intermediary audience.
It’s a poor reflection of the asset management sector that “Me” (or ‘About Us’ as it’s usually called) is the key communications theme for nearly 90% of the firms we rated. The list of their own achievements is so lengthy their websites read at best like CVs. Social media content and messaging focuses mainly on firms’ new hires or industry awards. In a world where audience focus is the single biggest driver of successful digital communication, this is a sector with a “Me” problem.
However, all is not lost. By focusing on the “You” – their FAI audience – asset managers can enhance access to their firm and ease the selection process, by engaging their audiences, through a clearer strategy towards digital functionality and content. Through this asset managers can create valuable opportunities to smooth the investment decision-making process and build enduring relationships that can weather the cyclical and inherent volatilities in the market.
Download your copy of Living Ratings to learn more about the key trends we discovered in the 2017 Living Ratings digital intelligence of asset managers.
How we can help
Aiming to put the 'you' at the heart of our client's offering, we utilise data driven and extensive research strategies to address the needs of their target audiences. Here at Living, we drive business performance with strategic thinking, brand creation and cut-through messaging - creating effective communications that get tangible results.