Here’s why an investment firm needs to consider implementing a public relations program when launching a mutual fund.
So, you are considering launching a new mutual fund and are trying to figure out what to do next. How do I bring in assets to the fund? How do I get in front of prospective investors? How do I help my sales team? With these questions in mind, be sure to place Public Relations at the top of your priority “to do” list. A PR Program can become an invaluable tool in building your new fund because it enables you to:
- Provide a cost-effective way to create an image and brand recognition in the market place.
- Help differentiate you and your firm more quickly from thousands of mutual funds and ETFs clamoring for investors.
- Develop your firm’s story and then make sure that spokespeople stay on message.
- Speed up the sales process as prospects may tell your sales team “I have heard of you” or “I saw you on TV or in a magazine article.” It’s important to keep in mind that talking with reporters from the fund’s infancy will help you develop relationships with the media. As you gain traction as a credible source, reporters will come back to you in the future. As reporters begin to trust your opinions, they may begin to include you in their stories or even write features on your fund’s strategy.
- Leverage third party media endorsements, which add credibility to your sales and marketing efforts, by obtaining reprints and driving traffic to your website. Do remember, that a quality website that is easy to navigate is an important part of growing your new fund.
- Attract that “must-have” marketing executive or investing strategist when the good news spreads about your firm.
Finally, remember, incorporating a Public Relations program in your initial marketing efforts may mean quicker recognition by investors, which can translate into larger asset flows into the fund. Over the last seven years, SunStar Strategic’s money management clients have promoted their thought leadership by participating in an average of 120 media tours annually, appearing in 2,032 interviews each year. Over the past five years, the portfolios of this type of clients have increased assets by a total of approximately $26 billion.
We have extensive experience in public relations and have helped many clients develop PR and marketing programs around launching new products. Let's talk and see how we can work together.