Asset Managers are wasting money when they advertise. 95%* of Professional Buyers are not in market for funds at any one time and yet, Asset Managers wait for an uptick in performance, secure some funds for a one off ad campaign and run a product ad expecting results.
This principle should have profound implications on the way that Asset Managers think about the role of advertising. To grow their brand they need to advertise to people who aren’t in the market now, so when they do enter the market their brand is one they are familiar with and they mentally associate with the need or buying situation that brought them into the market. That way, they will increase a fund buyers purchase propensity. And if that is done across enough buyers, asset managers will grow market share.
TOP THOUGHT #2
Advertising that builds relevant brand memories makes your brand more competitive and drives future sales. Salesforce’s Trailblazer Campaign is a best in class example of how markets can build mental availability in B2B**. Leveraging their powerful brand assets. Astro and friends’ they helped link Salesforce to several CRM buying situations in a story telling format that resonates with both in-market and out-market buyers.
**How B2B Brands Grow, LinkedIn The B2B Institute
Asset Manager wanting to learn more about how to build brand and advertising effectiveness? Download the full 12 ½ Principles.