There’s much to be gained by positioning your firm as a thought leader – but doing so is not always straightforward. Financial services firms must overcome the challenges experienced by all companies undertaking content marketing, while also facing certain sector-specific hurdles.

In particular, they have to tackle the following issues:

1. Creating compelling content. As in other sectors, engaging experienced content experts, achieving a consistent tone of voice and overcoming budget constraints are crucial when it comes to developing content.
2. Navigating different channels and formats. In addition to traditional formats such as articles, thought leadership, white papers and research reports, firms are also using videos, blogs, infographics, social media content and webinars to distribute their content. Making strategic decisions about which formats to focus on – and repurposing the same content for different channels – is essential when it comes to making content stand out in an increasingly crowded space.
3. Overcoming compliance hurdles. Financial services firms also have their own sector-specific challenges to overcome – not least of all the difficulties associated with regulatory compliance. It can be tempting to be overly cautious in such a regulated climate, but a clear understanding of the relevant constraints can enable firms to produce insightful material with confidence.
4. Measuring value. Firms may struggle to measure the value and effectiveness of the content they produce. Many metrics are available, including conversion rates, website traffic, customer feedback and sales – but firms often lack confidence when it comes to tracking ROI.

Financial services firms may face challenges where content is concerned – but by adopting a clear content strategy, firms can overcome the challenges and create compelling and effective content. We will explore these topics in more detail in future articles.

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As the US Senate Committee on Small Business & Entrepreneurship noted, there is still a disparity in access to capital and entrepreneurial development opportunities for minority-owned firms. “Though minorities make up 32% of our population, minority business ownership represents only 18% of the population.”

Minority entrepreneurs face a unique set of challenges in navigating the path to business success. Three minority entrepreneurs in Calgary, Alberta, shared their advice in a recent article in the Calgary Journal.  Eddie Richardson, president of Genesis Basketball; Joyce Okunsi, CEO of Joyce’s Closet; and Beni Johnson, founder of 10at10 media platform have all launched successful businesses in the face of discrimination and financial barriers.

1. Don’t let stereotypes define you

“Whenever I was given a job or a task I would always try to be the most educated on it.” said Johnson. “People were racist in their ways. If something does not look like you, people get afraid of it, so it was a combination of many things.”

1. Don’t let barriers stop you

“In fashion, I faced many barriers. I had to work twice as hard to prove my credibility as a stylist. Because I am a black woman, I was excluded from many things that I should have been a part of.” said Okunsi.

1. Don’t forget that your experiences are valuable

“I’ve worked through a lot to get to where I am and I still have a lot ahead of me,” said Richardson. “I hope that my story inspires others to never settle and to push through adversity because anything is possible.”

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Insightful content which resonates with readers enables firms to showcase their expertise and build trust with existing clients. Content can also play an important role in attracting new clients, engaging intermediaries, developing brand and driving sales.

However, achieving this is not without its difficulties. Research published by PR firm BackBay Communications and the Mutual Fund Education Alliance found that 64% of the asset managers surveyed struggle to develop a content marketing strategy.

In order to use content effectively, asset and wealth managers should:

• Define your audience. Whether your intended readers are investors or advisers, it’s important to know who your content is aimed at and understand their investment objectives. Content which speaks to one group of people may hold little interest for another.
• Define your goals. What is the objective for a particular piece of content? From brand building to funnelling readers to read a more in-depth report, know what you want to achieve with every piece of content you produce.
• Explore different formats and channels. Firms are using everything from thought leadership and white papers to videos across channels as diverse as traditional print to the most cutting-edge social media platforms to get their message across – and some are doing so with considerable success. Consider how different formats and channels can be used to engage readers in a planned and consistent way.
• Measure success. The desired outcomes should be defined and measured so that firms can gain a clearer understanding of the effectiveness of different approaches.

A well-thought-through content strategy can be a powerful tool in an increasingly competitive landscape. Investors are expecting ever more sophisticated services, while asset managers are facing growing competition from alternative investment models. By producing content which provides information, analysis and guidance in a targeted way, firms can give themselves a clear advantage.

The post 4 Strategies for Asset Managers to Drive Sales and Build Strong Relationships appeared first on Content Innovo.