“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas. -Paul Samuelson
As the world is making a faster and smoother shift towards digital, it is quite obvious for mutual funds to market online. Despite being numerous challenges in online marketing, there is always scope for new innovations and invention in the services of financial sector. However fund marketing has still been slower to make a leap into new media tactics from the traditional ones.
Mutual funds were created to make investment easy, so consumers wouldn’t have to be burdened with picking individual stocks. The most common technique that applies for online marketing is the SEO ranking in Google. The first page content in the Google web page is obvious to draw your attention at first. This has been tried and true technique widely practiced by all marketing groups. But certainly there are future challenges that investors undergo while using digital marketing techniques. These challenges are:
- lack of financial literacy
- Too many fund houses and schemes
- Fear of losing money due to stock market movements
- Lack of 1-1 connect with fund houses/distributors which do not help build trust
- Forceful selling by distributors vs. education
- Financial Services are intangible which poses a challenge for an investor to understand and grasp the benefits.
Being a mutual fund company, you can always overcome the mentioned challenges to work in favor of you by building a trust and consistently addressing the anxieties and obstacles to purchase. These factors essentially drive us to use digital marketing effectively to connect and educate the masses who are somewhere going to influence their network.
Some of the peculiar strategies that you can rely upon for Mutual Funds digital marketing are:
- Spreading Awareness
As the digital world is new to most of the investors people have lack of awareness and digital illiteracy. However creating awareness can be a positive point to educate your target audience about the online means of investments. People of almost all the age groups use social media, but you need to first determine your potential audience and concentrate your marketing efforts at them.
Theeasiest way to do this is hiring a digital marketing agency to place your product in front people searching it. SEO is proven to be the most trusted and effective marketingstrategy in all the sectors.
- Poking interest
You have to intend to draw your audience’s attention towards your services and nurture them wisely. Because when it is a digital medium it gives your audience just the fraction of seconds to see, decide and click to exit.
- Generate desire
Knowledge and intelligencecannot be forced upon a person who is not willing to accept it. Once there is desire within your audience to accept your services only then you can move ahead with your next step. So you can use some of the innovative and out of the box tactics to hold desire within your audience. Tactics like highlighting your peculiar features, your fund’sperformance, its ratings and other effective advertising strategies.
So once you have created desire, you are ready to take a steady action. Summarize all the problems that you can help them solving and work on the plan of action to Agitate and solve.
The conclusion converges at a point that it is obvious for mutual fund to market online and offline as well. But these two worlds need to shake hands and merge along for extracting the maximum benefits. So what are you waiting for? Get started and watch your assets grow!