Investors have a lot of options when it comes to deciding who manages their assets. Establishing brand awareness allows them to become familiar with your firm and can influence a decision to engage. A long-term strategy to raise visibility among target audiences should be a central part of your business growth plan.
People’s perception of the brands they connect with plays a role in their buying decisions. The same can be said for the decisions made by institutional and individual investors, whether it’s a firm’s values, unique strategies and approach, products, or a combination of factors that resonate with them. The key is to create a memorable brand that intrigues investors enough to want to learn more.
According to a report by eVestment, which analyzed the importance of brand awareness among asset managers, firms with both high firm and product awareness realize growth as much as 24.4x that of those with low awareness.
If you’re on the fence about whether putting resources into developing your brand is worth the time, money and effort, read on to discover a few more reasons why it’s crucial for growth.
1. A Consistent Brand is Recognizable
A visual identity is a huge component of any brand. A cohesive appearance across every part of your business, from the website to marketing and sales materials, helps your audience identify and pay attention to your firm.
A mobile-friendly website that’s up-to-date, easy to navigate, and highlights your logo and brand colors, are key components of your brand image.
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2. A Visible Brand Adds Credibility
Your visual identity is only one aspect of your brand. An alluring website and a professionally designed sales deck may get people interested, but you need to give them a reason to buy.
An effective way to create a positive online reputation and a credible brand image is through thought leadership content, which can come in the form of a company blog, bylined articles, marketing videos, and media interviews. Unique perspectives on market sectors, asset classes and investment strategies can give the brand a dynamic edge and add a human element, which is essential to building trust.
Building a strong media presence and thought leadership platform provides a third-party endorsement that can add a layer of confidence for existing clients, which supports a stronger referral network.
Read these articles for more insight into how you can reach your targets through content and PR.
3. A Strong Brand Can Improve Lead Generation
Brand image contributes to how your business is perceived in the media, with the public, and among your clients and prospects. It also makes it easier for people to find you.
Publishing quality content that is optimized for search engines is a great way to attract new prospects and turn cold leads warm and warm leads hot by getting your brand in front of the right people.
As more investors see experts from your firm interview on media outlets like CNBC or being quoted in The Wall Street Journal, you will begin to develop a reputation as an industry expert and will see an increase in brand awareness over time.
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4. A Unique Brand Narrative Can Differentiate Your Business
Brand differentiation is key in business. A common mistake is thinking you are different simply by the services you offer. The truth is, especially in financial services, most firms offer the same products and services. It’s also no longer distinctive to say that you center your business around client relationships. That’s already expected.
Create a brand narrative that let’s who you are, your core philosophy, and culture shine through. People tend to do business with companies that share their values, and that is what will make you stand out.
The first step to building a brand is creating a compelling narrative with clear and consistent messaging.