Marketing tips for hedge funds from the Corbyn campaign
Following on from my last appearance on the ‘The Naked Short Club’, where I suggested what hedge fund marketers could learn from Trump’s campaign success, I followed up on this show with four lessons which could be applied from Corbyn’s brilliantly successful campaign strategy.
Corbyn’s team worked out segmented messaging focussing on opportunity, for example:
- free tuition appealed to students
- the end of austerity appealed to many more
- and the opposite of clear on Brexit also appealed as many voters were equivocal about Brexit, but knew they didn’t want a ‘cliff edge’ solution.
2. Emotional (authentic) connection
‘Maybot’’s repetition of her strong and stable mantra created a lack of authenticity and emotional connection, it backfired badly!
3. Create evangelists
Corbyn’s campaign created a group of evangelists – a committed group of activist supporters – to leverage and amplify the campaign messages.
4. Joined up communications
Corbyn’s campaign used joined up powerful, digital and emotional communications to deliver the messages.
Key lessons for hedge funds marketers
1. Messaging – Focus your story on the opportunity for specific investor types
Investor stories should be focused on opportunities for specific investor types, i.e the opposite of one size fits all.
A strong target for a boutique alpha manager could, for example, be a pension fund with a large unfunded deficit, or a family office looking for an ‘off the run’ opportunity who need ‘Alpha Olympians’.
A different style of manager with long lock ups, might target an endowment with a longer-term horizon where the hunt for alpha is less important than a more secure longer term return.
2. Don’t be a Maybot
Ensure that your firm’s communications feel authentic, have personality, and create an emotional connection with your target investors.
Your website should not look like every other manager’s website and the same applies to investor presentations and newsletters. Humans are emotional creatures. We make decisions based on gut feeling and rationalise after the fact.
3. Create evangelists
Look after your investors and find ways to remind them of why they chose you which means creating educational content around your investment strategy. This content is designed to continuingly reinforce the rationale of why they chose to invest in you. Don’t sell on performance!
4. Deploy joined up communication
Use multi-channel communications, email, PR, website, social media, digital ads and events to communicate insights. When you’ve got your piece of content, deliver it through email, through your website, through social media, through events.
Have something to say, have real insight, and use all of the different channels to communicate it.
listen from 28:30