Raising awareness part 1: “Can I use this again?”
A small shift in mindset can make a big change to your asset growth.
Raising awareness of an alternatives fund
is more like launching a balloon
than a rocket.
The Raising Awareness Series
Note: This series is for advanced awareness. I’m assuming you’ve already loaded your fund onto the relevant databases and you are talking to cap intro. You’re emailing your investor list and you’ve thought about press releases. You have a pitch deck, a newsletter and a serviceable DDQ. I shall write a ‘basics’ article at a later date.
If you’re an alternative investment firm, it’s an excellent idea to announce the launch of your fund. If you come from any other world, it’s shocking that I have to start with that advice. However, it’s amazing how many articles you can read about funds launching ‘quietly x months ago,’ where x > 6, and that’s it. Tumbleweeds. Nothing for years.
I’m not advocating a giant media blitz that consumes your team for weeks. At launch, you’re busy wrangling docs, refining processes and setting up the infra to make the fund successful. Equally, there’s high short-term pressure to get your initial investors on board. I’m aware that the launch of a fund is multi-dimensional, protracted and frankly, stressful. The last thing you need is more stuff to do.
However, if you approach your launch with one extra thought at every step, you can effortlessly build on your existing work. Building this into your everyday processes will set you and your fund up for long-term and painless awareness building. It’s a small thought but a valuable one:
‘Can I use this again?’
Almost everything you are already doing can have value when you're trying to raise awareness of your fund, strategy and firm. However, it only works if you have clearly delineated your strategy for raising awareness. You need to know (a) your audience; (b) the channels you are using to reach them and; (c) the most effective messaging and content pillars that resonate. With that information, you can quickly decide if the thing you are working on is worth repurposing.
This article is going to focus on what I mean by awareness. Subsequent articles will look at targeting, channels, effective content and a whole host of other useful information.
What is awareness?
As you can see in the investor journey above, your potential investor becomes aware and has made considerable judgements about your fund and firm before they initiate contact. More importantly, many investors will make those judgements and decide not to make contact. When your sales team reaches out, your potential investor may already be aware of your fund and have made a negative judgement.
There are two ways to handle this:
Option A:
Say nothing. Stay under the radar. I am an island. I am managing your opinion of me by being entirely invisible. I am exclusive. The only way you will know about me is if I try to contact you directly. I am a fascinating and mysterious unicorn. Don’t touch me! Be quiet! I am magical and special. Shhh.
Option B:
I have a strategy that places valuable content about my fund where potential investors will see it and in a timely manner. I am supporting my sales team by giving potential investors accurate and engaging information that allows them to self-select and reach out knowing that my fund is of interest.
To be clear, there’s no shame in Option A. It’s so prevalent among small and mid-sized funds and firms that I made a joke about it in the intro. However, Option A is not a good strategy. But, it feels safe, and much easier to manage when you’ve also got the pressure of running a fund. And anyway, everyone says that’s what the big funds do, isn’t it? Isn’t it?
No.
Let’s cut to the chase, as much as we like to pretend that the alternatives fund industry is a collection of mysterious, inaccessible beasts, it’s not true. Oh for sure, many of the multi-billion dollar shops are closed to investment and might seem to be saying very little. But they don’t make the news every day by accident. It isn’t fairy dust that puts their names in the heads of investors and journalists.
These funds have a strategy, and with that strategy, they employ tactics to keep themselves top-of-mind. They do this to build demand and retain existing assets. They know they need to manage what people think of them. They have PR teams and in-house marketers (actual marketers not salespeople with the wrong title). They have copywriters and content producers. They have brand managers and product specialists. They are cultivating multiple channels to raise awareness of their funds, firm, strategies, talent and authority. They have all the resources of a large investment management firm because that’s what they are.
And I will repeat myself - they have a strategy for managing and maintaining awareness. The fact that you think that they don’t means it’s a very, very good strategy.
By now, I have convinced you that you need a strategy and tactics for raising awareness to build long-term success. It’s essential if you want to be one of the big players. I’ve given you the secret to making enacting it less painful. In the next instalment, I’m going to cover some elements of a good advanced awareness strategy including the unique channels in alternatives. I’ll also show you how ‘Can I use this again?’ is easier and more difficult than you think.
Click the links below to move right on to the next chapter. Alternatively, start building your own awareness channels and get in touch with us!
Get in touch today to start building your awareness with After Yellow.
More in the Series
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