How do wealthy investors, family offices and entrepreneurs find asset managers? The industry is so tightly regulated that you can’t simply place a Facebook ad and expect to attract clients for your alternative asset management firm. Digital marketing in this niche is nuanced and unconventional.
Nonetheless, wealthy investors are finding their investment managers online on a regular basis. Here are three ways this is happening and why you should consider these platforms and strategies as well.
Social media
Social media platforms have evolved from a college ice breaker to a serious force in modern business within less than two decades. Now, if you’re in business you simply cannot afford to neglect your online social presence.
In the financial world, there’s no better example of this than Ritholtz Wealth Management. Josh Brown and Barry Ritholtz’s media empire stretches from Twitter to YouTube and even Bloomberg Podcasts.
The team has been creating educational content for investors for years and now their blogs and videos collectively attract millions of views every month. Unsurprisingly, the team has raised assets under management from $90 million to over $300 million driven primarily by this digital content strategy.
Leveraging social media like Twitter is a low-cost way to generate leads and attract the attention of wealthy investors.
Financial Media
Of course, new media isn’t the only way to reach out to high networth individuals (HNIs) and wealthy investors. Traditional media appearances are, arguably, just as effective. In fact, considering the fact that wealthy individuals are more likely to be seniors, TV and print appearances could be more impactful.
Josh Brown, of course, has frequent appearances on CNBC, as does Carl Icahn and Jim Chanos. Even Warren Buffett is a frequent guest on CNBC’s Squawk Box, while fellow billionaire David Rubenstein has his own show on Bloomberg.
A financial public relations team with the right connections could get you featured on mainstream financial news. However, features in niche publications like Institutional Investor, HedgeEye, or Seeking Alpha could be just as impactful.
Cold emailing
Despite the fancy new social media platforms and creative digital marketing techniques, it seems the humble email is as effective as ever. Email marketing remains a dominant force in the digital world, simply because the email address is the centre of any internet user’s digital identity.
Here are some statistics that illustrate why emails are the core of online marketing strategies even in 2020:
- 73% of millennials prefer business communications on email.
- Revenue surged 760%for marketers who used a segmented email campaign.
This is why a well-crafted cold email or a meticulous mail list strategy could help your wealth management firm attract HNIs and wealthy investors online.