Experience Defined Differently

For some time now, people have been moving towards wanting to have memorable experiences, not just buying and owning things. The website Luxurytraveladvisor.com published some data on this trend: According to a study conducted by?Expedia?and the?Center for Generational Kinetics, 74% of Americans now prioritize experiences over products or things. “Baby Boomers (born 1946-64) are entering a stage where ‘less is more,’ while younger generations, particularly Millennials (defined as those born from 1977-95), are leading the charge in placing a newfound value on experiences, more than things,” the report, titled?Generations on the Move, states.

Some of this sentiment has found its way into the marketing practices that are more meaningful to investors these days. Hubspot.com recently published an interesting blog, The Marketing Trends of 2022, which pulls data from their Marketing Strategy Survey. Some excerpts from the survey findings have great relevance to the developing practices in investment management marketing tactic shifts I have observed. Some of the more popular trends are here below:

CONTENT IS KING. At least?47% of buyers?view 3-5 pieces of content prior to engaging with a sales rep, and the majority of them expect brands to create content to gain their interest.

LEAD BY EXAMPLE. 64% of marketers who launch case studies found them effective and 15% said they brought the biggest ROI of the content formats they leveraged.

BUY WITH THE EYE. If a picture paints a thousand words, infographics could paint at least double. Infographics not only have the shareability and visual appeal of a nice photo -- but they're also packed with helpful data and informative information. This makes them incredibly engaging to web visitors and social media audiences alike. According to our research, 38% of marketers plan to leverage infographics for the first time in 2022, while 45% of marketers are already using them.?

SHORT AND SWEET. More than 31% of global marketers?currently invest in short-form video content, 46% of them consider the strategy effective when it comes to performance and engagement. And, in 2022, 89% of global marketers plan to continue investing in it or increase their investment.?

MOBILIZE. Consumers are spending more and more time on mobile devices. In fact,?more than half of annual online website traffic?comes from mobile devices, including tablets.??

ESG IS VIP. The interest in buying products from socially responsible brands really took during the many global events of 2020 and 2021.?Early research from organizations like McKinsey?predicted that customers would more heavily support brands that demonstrated their care for all customers, employees, and shared causes.?

SEO DRIVES ROI. As marketers, we must ensure that our websites and content are as discoverable as possible -- especially on Google -- which can provide both long-term and short-term traffic returns. And, while SEO is not new, its strategies are becoming even more ingrained within modern day marketing strategies.?

GIVE THEM WHAT THEY WANT. The process of?inbound marketing?requires you to produce quality, valuable content tailored towards your target audience and buyer personas and their needs. Inbound marketing?can be a valuable asset to create brand awareness and build trust digitally through refocusing strategy to drive customers to seek out your content.

LET THEM DO THE TALKING. The flywheel places the customer in the center. Since word-of-mouth marketing is one of the most powerful marketing tactics, it’s wise not only to serve your customers but also equip them to become advocates for and promoters of your brand. The flywheel illustrates this process: excellent service as its own marketing strategy.

The survey is packed with useful information for those who need to adapt sales and marketing practices to best influence their target market. For more data and information visit the website blog post here: https://blog.hubspot.com/marketing/marketing-trends.

Now that you’ve learned a bit about the most effective ways to reach your audience, is what you are currently doing consistent with these trends, or is now is a good time to re-evaluate where your program is and where it is heading? Consider the flywheel example above and ask yourself:

§?How do they find you?

§?How do you describe value?

§?How do people learn about you?

§?Where do you invest in outreach?

Summer is a great time to take a breath, sit back and evaluate how to maneuver through the remainder of this year while setting yourself up for an even more effective 2023. Just keep top of mind that if you listen to your market, it won’t steer you wrong.

?Diane Harrison is principal and owner of Panegyric Marketing, a strategic marketing communications firm founded in 2002 specializing in alternative assets.?She has over 30 years’ of expertise in hedge fund and private equity marketing, investor relations, articles, white papers, blog posts, and other thought leadership deliverables. A published author and speaker, Ms. Harrison’s work has appeared in many industry publications, both in print and on-line. To read more of her published work in alternatives, please visit www.scribd.com/dahhome. Contact: [email protected] or visit www.panegyricmarketing.com.???