Microcontent: what it is and how it can help your marketing
Microcontent hasn’t really found its legs in the financial services industry. We think that’s going to change.
Microcontent is primarily visual content distributed on media such as a blog, Facebook or LinkedIn to bolster your content efforts and draw your audience’s attention toward a more robust piece of content. These may include in-depth whitepapers, infographics or a new video on your website.
What sets microcontent apart from other types of content? It’s short, “snackable” and relatively cheap to produce.
What’s microcontent?
While this isn’t a complete list, the key types of microcontent include:
- Charts
- Diagrams
- Facts and figures
- GIFs
- Graphics
- Illustrations
- Images
- Quotes
- Tips
What’s best for financial services?
Financial services marketers tend to use charts, graphs and tables in their materials. But these tools are used a lot, and your content may lose its impact among the vast amount of charts, graphs and tables that are already out there.
It’s good to look beyond these forms of microcontent when you can. Some types of microcontent that we think are ideal for the financial services industry include:
- Images are a great way to capture your audience’s attention (think about taking elements from larger, more detailed infographics)
- Quotes are always eye-catching. If you use quotes, don’t forget to use compelling and complementary images or graphic designs to draw more attention to them
- Tips that help people excel at their job and life will always be near the top of the sharable content list
From a production standpoint, the best thing about microcontent is that it’s relatively quick to produce, so you can experiment a little more than you would with lengthier or more costly content. This can be a huge benefit for content teams that are stretched to the limit.
If you want to boost your marketing efforts, this is the perfect time to start producing microcontent. Contact us today at 1.844.243.1830 or info@ext-marketing.com to learn how.
Upcoming macroeconomic events, November 2019
Do you write or edit portfolio manager commentaries? Do you want to stay on top of the macroeconomic events that shape your day-to-day life as a financial services marketer?
If so, here are the big macro events that the ext. team is keeping an eye on over the coming weeks.
- On November 29, Canada will announce its gross domestic product (“GDP”) growth rate for the third quarter. Canada’s GDP grew 3.7%, annualized, in the second quarter, an improvement from the 0.5% growth in the previous quarter. Canada’s economy benefited from a rise in exports and real estate. However, personal spending slowed, which may be indicative of a weaker consumer
- The Bank of Canada (“BoC”) will announce its interest rate decision on December 4. At its last meeting in October, the BoC held its benchmark overnight interest rate steady at 1.75%. Despite leaving its central interest rate steady, the BoC stated that future rate decisions will be largely dependent on the strength of the Canadian economy, which could be “tested” by global economic weakness
- Canada’s unemployment rate for November will be announced on December 6. In October, the Canadian economy lost 1,800 jobs. Still, the unemployment rate remained unchanged at 5.5%. Canada’s unemployment rate remains close to its lowest level in decades, which is contributing to the relative strength of the Canadian economy
- The U.S. Federal Reserve Board (“Fed”) will announce its interest rate decision on December 11. The Fed reduced its central interest rate to a target range between 1.50%-1.75% at its most recent meeting. The Fed’s third reduction of the year was due in part to weaker inflation and global economic risks. The Fed appears to be done adjusting its central interest rate but will closely monitor incoming economic data ahead of future meetings
- On December 19, the Bank of England (“BoE”) will announce its interest rate decision. The BoE has held its Bank Rate steady at 0.75% throughout 2019. At its most recent meeting at the beginning of November, the BoE lowered its outlook given concerns about the global economy and Brexit. Two members of the BoE also voted to reduce its central interest rate, which could signal the BoE is ready to adjust interest rates should economic conditions warrant
For investment commentary support (including monthly and quarterly commentaries, as well as MRFPs), contact us today at 1.844.243.1830 or info@ext-marketing.com.
What Grissom and Caine can teach us about investment writing
Constant innovation has enabled the investment management industry to offer new and novel solutions designed to better serve the investing public. As more sophisticated solutions are introduced in the alternatives space, as well as in other product categories, the challenge of writing to these increasingly complex investment products becomes more pronounced.
While we should always strive to simplify our business communications, just opting to “dumb down” content may do investors a disservice. Is there a middle ground between simplicity and substance? The answer might lie with an old but influential television show.
CSI: Communicating Substance to Investors
It’s been just over three years since the last new episode of the hit CSI television franchise aired, but the footprint of this 16-year-long cultural touchstone is still present. Not only are the various CSI shows still being aired in syndication, they have continued to shape the public’s perception of law enforcement.
While the franchise has been criticized for taking artistic liberties with the real nature of police work and forensic investigation, CSI was never shy about using technical, highly scientific insider jargon.
That’s significant when you consider the CSI shows have been watched by millions, and that forensic science is no less an esoteric subject than yield curves or hedge funds.
Yet these shows, despite their complexities, spawned a generation of laypeople who could proudly discuss contusions, exit wounds and DNA sampling.
So, what can we learn from the exploits of Gil Grissom and Horatio Caine? From an investment communications perspective, we might take away the following:
1. Complexity doesn’t have to be scary; in fact, by its very nature can be compelling for readers.
2. Don’t be afraid of using complex terms, but also add in enough additional information so the reader can follow along, while also feeling educated and empowered by new knowledge.
3. Keep a “CSI toolkit” handy, meaning a spreadsheet of commonly used insider terms relevant to your investment mandate(s), plus their working definitions, for the benefit of investors. This toolkit can be used by you and your team in a variety of investment communications
The best practices for investment commentaries are always evolving. See what ext. can do to help you slay all your investment communications.
For more information on how ext. can help you improve your investment content, contact us at 1.844.243.1830 or info@ext-marketing.com.
Upcoming macroeconomic events – August/September
Do you write or edit portfolio manager commentaries? Do you want to stay on top of the macroeconomic events that shape your day-to-day life as a financial services marketer?
If so, here are the big macro events that the ext. team is keeping an eye on over the coming weeks.
- Canada will announce its inflation rate for July on August 21. In June, Canada’s inflation rate fell to 2%, partly as a result of a decline in gasoline prices and a slowdown in shelter as well as clothing and footwear. Despite the slowdown in June, the inflation rate has crept higher in 2019, largely in response to higher food prices
- Canada’s gross domestic product (“GDP”) growth rate for the second quarter will be announced on August 30. In the first quarter, Canadian GDP grew 0.4% annualized, a slight improvement from 0.3% in the last quarter of 2018. GDP growth was led by consumer spending in the first quarter. However, real estate investment fell for a fifth consecutive quarter. Markets are hopeful that the Canadian consumer remained strong in the second quarter, while recent positive real estate news contributes, rather than impedes, economic growth
- The Bank of Canada (“BoC”) will announce its interest rate decision on September 4. The BoC’s benchmark overnight interest rate currently stands at 1.75%. At its most recent meeting in July, the BoC stated that the current level of its central interest rate is “appropriate.” However, the BoC does see some weakness in the Canadian and global economies as a result of continued trade tensions. The BoC will closely monitor how trade disputes are impacting the Canadian economy before any future interest rate decisions
- Also on September 4, the U.S. balance of trade for July will be announced. The U.S. trade deficit narrowed slightly from US$55.5 billion to US$55.2 billion in June, partly as a result of a reduction in imports. The trade deficit with China also narrowed. Given persistent trade tensions with China, markets will carefully monitor the results from this announcement
- On September 12, the European Central Bank (“ECB”) will announce its interest rate decision. At is last meeting on July 25, the ECB held its central interest rate steady at 0.00%. The ECB gave a more cautious tone, citing concerns about the slowing global economy. Furthermore, the ECB expects its rates to remain steady or even lower until at least the first half of 2020, hoping to push inflation up towards its target. The ECB is prepared to take measures to provide the European economy with more monetary stimulus, if needed
For investment commentary support (including monthly and quarterly commentaries, as well as MRFPs), contact us today at 1.844.243.1830 or info@ext-marketing.com.
Monday morning briefing – May 27, 2019
Socially responsible investing by hedge funds on the rise. Using branches to help with a bank’s digital strategy. Institutional investors prepared for a market downturn. And much more in this week’s briefing.
Economic/industry news
The Japanese economy expanded 0.5% in the first quarter of 2019: Japan’s Q1 GDP: The details are worrisome
Will we see an interest rate cut by the Fed?: David Rosenberg says U.S. will cut rates by end of summer
Assets in passive and active U.S. equity funds at US$4.3 trillion each: Passive fund assets draw even with active incumbents in U.S.
U.S. ETF that pays investors will put pressure on fund fees: Fund fees face added pressure with first U.S. fund that pays investors
There were US$45.94 billion of net inflows into global ETFs in April: Global ETF assets reached US$5.57 trillion last month
News and notes (U.S.)
Asian, emerging markets and event driven hedge funds attracting assets: Event driven, Asia, emerging markets hedge funds are big asset winners in April and YTD
Socially responsible investing by hedge funds on the rise: Hedge funds start to figure out socially responsible investing
Appaloosa LP to convert to a family office: David Tepper’s hedge fund days are coming to a close (one day)
PE exits declined in the first quarter of 2019: Exit activity nosedives for PE firms in 1Q
Investors concerned about the return potential from private markets: Private equity loses luster
Possible changes expected to the tax treatment of carried interest profits: Mnuchin says no plan to change carried interest tax treatment
Vanguard launches first actively managed ESG fund: Vanguard’s first actively managed ESG fund now open for investment
News and notes (Canada)
Allianz Group invests $100 million in Wealthsimple: Allianz makes ‘landmark’ investment in Wealthsimple
Purpose launches options ETF: Purpose launches new options ETF
Canadian mutual funds experienced $1.0 billion of outflows in April: ETF sales trump mutual funds in April
Canadian debt levels continue to rise: CMHC says Canadian debt levels hit record highs at end of last year
Canadian executives expect strong revenue growth this year: Economic optimism underpins strong M&A market
On the pulse – New frontiers in fintech
Using branches to help with a bank’s digital strategy: Don’t abandon branches to favor digital banking channels
Outages causing problems for open banking: Open banking revolution on hold as banks fail to prioritise fixing outages
Banks spending heavily in digital transformation to ward off the threat from fintech firms:Banks waking up to fintech threat throw billions into digital
How artificial intelligence can help banks: How AI will supercharge bank and credit union innovation
The top 20 countries in AI readiness: UK near top of AI index
Attracting the Gen Z client: Are you focused on the right customer?
Trade AI Engine will provide a better experience for trade processing: Standard Chartered rolls out Trade AI Engine
Revolut launches group feature for its vault account: Revolut launches Group Vaults as an alternative to joint accounts
HSBC opens artificial intelligence lab: HSBC opens global data lab in Toronto
High-net-worth topics
What wealthy clients want from an advisor: How advisors can stand out to wealthy clients
A look at philanthropy from the CEO of the Center for Effective Philanthropy: What Wall Street gets wrong about giving
Cash holdings on the rise for the ultra-wealthy: A group of superrich investors, spooked by China and potential ‘black swans,’ raises cash to levels not seen in years
Polls & surveys – What financials are saying
Institutional investors prepared for a market downturn (Wilshire): Institutional investors think they’re ready for the next downturn
Approximately 50% of investment managers are using alternative data (IHS Markit): Half of investment managers use alternative data: report
Investment professionals bullish on U.S. equity markets (SPDR): Investors still confident in mid-2019, but risk tolerance dips
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
Upcoming macroeconomic events – May/June 2019
Do you write or edit portfolio manager commentaries? Do you want to stay on top of the macroeconomic events that shape your day-to-day life as a financial services marketer?
If so, here are the big macro events that the ext. team is keeping an eye on over the coming weeks.
- The Bank of Canada (“BoC”) will announce its interest rate decision on May 29. The BoC held its benchmark overnight interest rate steady at 1.75% after its latest meeting in April. Domestic and global economic activity had slowed more than the BoC projected earlier in the year. The BoC will carefully monitor developments in household spending and global trade before any future rate increases. Markets are expecting the BoC to hold steady again at this meeting
- On May 31, Canada will announce its first quarter gross domestic product (“GDP”) growth rate. Canada’s GDP growth slowed to 0.4% annualized in the fourth quarter of 2018, following an expansion of 2.0% in the third quarter. GDP growth was negatively impacted by a decline in housing investment and exports. After a monthly expansion in January, GDP contracted in February. Canada’s economy has not been immune toe effects of a slowdown in global economic activity, weaker oil prices and trade uncertainty
- The IHS Markit U.S. Manufacturing Purchasing Manager’s Index (“PMI”) for May will be announced on June 3. PMI was 52.6 in April, due in part to a rise in output and new orders. While an improvement versus the previous month, it was the second weakest expansion over the past two years. This reading will give investors an indication of the strength of the goods producing sector
- The U.S. unemployment rate for May will be announced on June 7. In April, the unemployment rate fell to 3.6%, its lowest rate since 1969. Over 260,000 jobs were added in April, led by the construction and health care industry, while wages also advanced. Labour markets continue to be strong which bodes well for the overall health of the U.S. economy
- On June 9, Japan will announce its final first quarter GDP growth rate. Japan’s GDP grew 1.9% annualized in the fourth quarter of 2018, partly as a result of a rise in consumer spending and business investment. This followed a 2.4% contraction in the third quarter, when the country was hit by a series of natural disasters. First quarter GDP growth may be weak, given a decline in industrial output, along with weak exports
- The U.S. will announce its inflation rate for May on June 12. In April, inflation was 2.0%, an increase from the 1.9% in March. Since late 2018, inflation has eased, primarily as a result of the drop in energy prices. However, this has reversed given the recent surge in energy prices
For investment commentary support (including monthly and quarterly commentaries, as well as MRFPs), contact us today at 1.844.243.1830 or info@ext-marketing.com.
Upcoming macroeconomic events – March/April 2019
Do you write or edit portfolio manager commentaries? Do you want to stay on top of the macroeconomic events that shape your day-to-day life as a financial services marketer?
If so, here are the big macro events that the ext. team is keeping an eye on over the coming weeks.
- On March 20, the U.S. Federal Reserve Board (“Fed”) will announce its interest rate decision. At its latest meeting in January, the Fed maintained the target range for its federal funds rate at 2.25% to 2.50%. The Fed is expected to hold its interest rate steady for a second consecutive meeting partly as a result of the slowing global economy, easing inflation and continued trade uncertainty
- The Bank of England (“BoE”) will announce its interest rate decision on March 21. The BoE has held the Bank Rate steady at 0.75% since its last increase in August 2018. The BoE intends to raise rates at a gradual pace. However, slowing domestic and global economic growth, as well as the uncertainty of Brexit, will weigh heavily on the BoE’s decision
- Canada will announce its inflation rate for February on March 22. Inflation fell to 1.4% in January, the lowest rate in over a year. This pullback was primarily the result of falling gasoline prices and an overall decline in the price of food. The Bank of Canada (“BoC”) expects lower gasoline prices to persist, which may keep inflation below 2% throughout 2019
- On March 27, the U.S. will announce its balance of trade for January. The U.S. trade deficit widened to US$59.8 billion in December. Exports fell 1.9%, while imports rebounded, rising 2.1%. As a result of ongoing trade uncertainty, this will be a closely watched measure to anticipate its impact on the overall health of the U.S. economy
- China will announce its first quarter gross domestic product (“GDP”) growth rate on April 16. China’s GDP grew 6.4% in the fourth quarter, slowing from the 6.5% recorded in the third quarter. While economic activity has been affected by the trade dispute with the U.S., the Chinese government is looking to boost domestic economic activity through fiscal policy. Furthermore, the People’s Bank of China has added more liquidity into the system through its ongoing reduction of the required reserve ratio for banks
For investment commentary support (including monthly and quarterly commentaries, as well as MRFPs), contact us today at 1.844.243.1830 or info@ext-marketing.com.
Monday morning briefing – November 26. 2018
The names you need to know in fintech. Activist investors in Europe keying in on the U.K. industrials sector. Why states around the world should consider issuing cryptocurrencies supported by their central bank. And much more in this week’s briefing.
Economic/industry news
International Economic Data Snapshot – includes aggregated data of the worldwide economy: Snapshot: International economic data
Canada’s inflation rate rises again:Canada inflation ticks up, central bank seen keeping rates steady
Japan’s economy contracts in the third quarter: Japan GDP: Natural disasters hit economic growth
Could there be changes to the BoC’s mandate to keep prices stable?: Bank of Canada plans thorough review of inflation targeting
Protecting your portfolio against the next recession: The next recession is coming: Here’s how to protect your portfolio
A look at the currency market: How currency differs from other asset classes
Canadian ETF assets fell in October: Canadian ETF assets lower in October
The number of distinct indexes rose by 12% in 2018: Number of indexes on the rise, led by fixed income: report
Sir Ronald Cohen on the importance and outlook for impact investing: Impact investing: A multitrillion-dollar market in the making
Businesses should focus on the new, “circular economy”: ING Portfolio focuses on financing for sustainable economy
On the pulse – New frontiers in fintech
Fully transitioning to digital is much more than just a mobile app: Are you really ‘doing digital’?
Customer centricity vital for the banks of the future: It pays to be personalised
How to manage your cloud infrastructure: Managing cloud infrastructure post-migration – a CTO guide
The names you need to know in fintech: Fintech finance’s power players
Technology could help private bankers become more productive: Making private bankers more productive
Open banking not well known or understood by end consumers: Open banking slow burn means just 22% of consumers have heard of the concept
Starling Bank launches Client Money Accounts, helping professional practices that hold money on behalf of their clients: Starling Bank launches CASS-compliant accounts helping firms manage third-party funds
Regtech will be an important component for the future success of financial institutions: Saxo Bank on why regtech is key to scalability in financial services
How to be innovative in the insurance industry: How to become an innovator in insurtech
Capital One purchases WikiBuy: Capital One buys online shopping comparison startup
Many firms don’t believe that they are resilient enough to combat cyberattacks: Cyber security implementation: firms want it, but less do it, finds survey
BitSpread launches BitSpread Financial Solutions, designed for investing in blockchain assets: BitSpread launches new financial solutions division
Why states around the world should consider issuing cryptocurrencies supported by their central bank: IMF: Nations need to consider a central bank backed cryptocurrency
Cryptocurrencies may not be banned in India: A ray of hope for cryptocurrencies as India readies draft regulations
News and notes (U.S.)
The Barclay CTA Index fell in October: Barclay CTA Index loses 1.29 per cent in October
Hedge fund assets fell to $3.06 trillion in September: Hedge funds redemptions surge to $39.1 billion in September, highest in more than 5 years
Management expenses no longer a tax break for hedge fund investors: Hedge fund investors lose key tax break for management expenses
Activist investors in Europe keying in on the U.K. industrials sector: Industrials are No1 target sector for activist investors in Europe
Secondaries still generating a lot of interest: Why secondaries fundraising is surging
Morgan Stanley launches new advisory platform, WealthDesk: Morgan Stanley unveils new advisory platform
AllianceBernstein to purchase Autonomous Research: AllianceBernstein announces offer to acquire Autonomous Research
Further trade tensions between the U.S. and China could hurt the stock market: Expect more stock market losses if US-China trade war worsens
Long-term funds experienced $29.1 billion of outflows in October: Morningstar: Passive equity funds gain, actives lose big
An interview with Abigail Johnson and Kathleen Murphy of Fidelity: The most powerful woman in fund management gives a rare interview
High-net-worth topics
High-net-worth investors expect further equity market declines: The equity party’s ending, say wealthy investors
How Tiger 21 helps the ultra-rich: Tiger 21 philosophy: Learn from your (very wealthy) peers
Life insurance can help reduce estate taxes, but not eliminate taxes entirely: Can HNW clients still use life insurance as a tax and financial tool?
Polls & surveys – What financials are saying
Canadian investors have trouble understanding the concept of risk and return (Natixis): Investors may have an unrealistic understanding of risk and return: survey
Over the next 25 years, $68 trillion of wealth will be passed on to younger generations (Cerulli): Generational wealth transfer to hit $68 trillion over 25 years: Cerulli
Correlating share value with ESG ratings (MSCI): Are ESG ratings the new credit rating for stock prices?
For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.
5 reasons why investment commentaries aren’t so bad
Here’s a widely held belief: investment commentaries get in the way of the more high-profile initiatives that first attracted you to marketing.
In many respects, that’s true. But we think there’s more to the story. While working on investment commentaries won’t likely lead to any awards, it’s a great way to learn about the industry and become a better marketer.
1. Learn more about the industry
Working on investment commentaries is a crash course on the investment industry.
For people newer to the industry, you’ll learn about management styles, benchmarks, how the markets work, the impact of macroeconomics and much, much more.
For more experienced industry professionals, involvement in investment commentaries makes regulatory changes a part of your day-to-day work. Admittedly, not the most exciting proposition. This regulatory awareness, however, helps you think about broader industry trends and how they may impact your profession in the future.
“Regulatory awareness, however, helps you think about broader industry trends and how they may impact your profession in the future.”
2. Expand your network
Every company has a different group of people working on investment commentaries. Trust us, there’s no universal template.
And while that leads to some practical challenges, it presents a great opportunity – you’ll get to work with a diverse group across your company, from legal and compliance to marketing, investments and product.
There’s a little piece of irony here. Investment commentaries appear to be a low-profile task, but they’re very high profile among certain teams within your organization. So, if you want to grow your network, working on investment commentaries is a good way to go about it.
“Investment commentaries, such as MRFPs, appear to be a low-profile task, but they’re very high profile among certain teams.”
3. Work under pressure
Month after month, quarter after quarter, year after year, disparate teams all across the world pump out investment commentaries. The timelines are tight and effective communication is essential to get the job done right.
Calm, clear thinking is required from everyone on the team, as is a commitment to detail orientation.
These “soft” skills flourish under the ticking clock of an investment commentary project and they transfer over to all other marketing endeavours that you’ll take on.
4. Write for a new audience
If you’re a financial services copywriter, investment commentaries may open your work up to a completely new audience.
Whereas most marketing materials are geared toward retail investors, a significant number of institutional investors (and other distribution channels) will read about your firm’s solutions through investment commentaries.
Institutional writing is higher stakes and the writing can be snappier and more technical. It also provides you with the opportunity to include some of that jargon you try to avoid when writing for a retail audience.
“Institutional writing is higher stakes and the writing can be snappier and more technical.”
5. Focus on process
Investment commentaries are among the most process-driven financial services marketing projects.
We write, edit and project manage investment commentaries for a significant number of the world’s largest financial services firms. As such, we’re always learning about new ways to improve our clients’ processes.
Do you want to produce better investment commentaries? We can help. Contact us at 1.844.243.1830 or info@ext-marketing.com.
Prepping for commentary season – get your facts in order
Investment commentaries involve content from a wide variety of sources including your communications, product, investments and fund accounting teams. They also need numerous reviews and approvals, and have non-negotiable timelines.
That’s why investment commentaries can be a stressful project for many people. To make the process as streamlined as possible, it helps to compile some key information in one document – and as early in the process as possible.
“Compile … key information in one document – and as early in the process as possible.”
It’s worth taking the time to create a reliable reference list that includes full and correct information for things that need to be precise, or that need to be checked often.
The Fund Info List
While this is not an exhaustive rundown, here are some essential elements of the Fund Info List:
Use exact fund names. Is it Short Term Bond Fund or Short-Term Bond Fund? Global Income Growth Fund or Global Income and Growth Fund? Be sure to update this list with any new mandates or name changes. And don’t forget that the Simplified Prospectus is often the best place to confirm full names.
Be precise with benchmark names. Index names, such as the BofA Merrill Lynch 1-3 Year Treasury Index, are very difficult to check against external sources as every company seems to apply its own style. Total return indexes, which are sometimes shortened to TR, are also notoriously inconsistent.
Keep an exact list of portfolio manager and sub-advisor names, and update it regularly, since sub-advisors do change fairly often and companies’ legal names do as well.
Again, the more exact the list of underlying funds, the easier it will be to cross-reference your information. If your company offers Funds, Classes and Pools, this becomes an even higher priority.
Track the inception date of funds. This information will help your writers know how to position the attribution information in the commentaries.
What to do with your Fund Info List
You’ve put together all correct info. Now what?
- Share this list with your writers, editors, reviewers – and anyone else who may need to use or check this kind of information. Be careful to allow only a few individuals at your company to update this list when necessary, as it loses its value if it’s not reliable
- It’s a good idea to include your Fund Info List in (or in the same folder as) your company style guide
- If you also produce material in another language, a version of this list with your company’s chosen terminology will be invaluable for translation
“Be careful to allow only a few individuals at your company to update this list when necessary, as it loses its value if it’s not reliable.”
And remember: it’s not just the facts but also the language you use that matters! So, if using the right language is a concern, read Using plain language in your financial writing.
We specialize in producing high-quality investment commentaries for some of the world’s largest financial services firms and we can help your company too.
Contact us today at 1.844.243.1830 or info@ext-marketing.com to get your investment commentary process running smoothly and efficiently.
Technology spending heats up in the financials sector
Many insiders believe the long-term success of financial services firms depends on them becoming technology-driven companies. With the rise of robo-advisors, the inroads made by blockchain and the success of regtech, to name just a few developments, it’s hard to deny the rising dominance of technology in financial services.
If you doubt the scale of change taking place in the financial services industry, check out these numbers. They may change your mind.
Members of the “Big 5” are spending big
- In 2017, The Bank of Nova Scotia spent C$1 billion on technology – 40% of which went to “change-the-bank” projects versus traditional operating expenses in tech. (Source: Financial Post)
- The Royal Bank of Canada spent C$3 billion on tech in 2017 – transformative projects garnered 30% of that spending. (Source: Financial Post)
Insights from the International Data Corporation
- IT spending in general will hit US$2.7 trillion by 2021, with banks, manufacturers and telecommunication services providers among the spending leaders. (Source: Channelnomics)
- Financial services IT spending was estimated at US$480 billion worldwide in 2016 with a five-year compound annual growth rate of 4.2%. (Source: IDC)
- The drive to increase tech spending is partly the result of the expanding investment industry, which is set to grow to approximately US$2.65 trillion by 2020. Financial services, namely banking, insurance, securities and investment services companies, will lead industry spending. (Source: Arnnite)
Focus on fintech
- Fintech spending more than tripled in 2014, reaching over US$12 billion. (Source: PwC)
- Fintech spending in 2017 was estimated to be approximately US$19.9 billion in North America, US$15.3 billion in Europe and US$22.1 billion in Asia. (Source: Statistica)
Is it worth it?
- Not everyone believes this spending is a smart allocation of assets. PwC has reported that financial institutions could be spending up to twice as much as they need to on IT. (Source: PwC)
The technological change unfolding in the financial services industry is unprecedented – and it represents some incredible challenges and opportunities for everyone who works in this space.
Contact us today at 1.844.243.1830 or info@ext-marketing.com for financial marketing and investment commentary help.
From FOMO to tweetstorm, how to handle newer words in your firm’s content
The English language is constantly evolving – and that’s a wonderful thing.
It also means that new words are constantly entering the lexicon, which can confuse readers unless these words are introduced properly.
So, should you add that new word to your writer’s vocabulary? The answer depends on who you’re writing for.
The difference between young adults and tweetstorms
The terms “young adult” and “live blog” were just added to the Oxford English Dictionary in 2013, but you wouldn’t bat an eye at seeing them in print today. In fact, by the time a new term makes it into the dictionary, it’s generally already in common use.
On the other hand, just because you can find something in the dictionary, doesn’t mean it belongs in your writing.
Whether you’re writing a formal whitepaper or an informal blog post, you can feel pretty comfortable about using the term “young adult” at this point.
But what about “tweetstorm,” “crowdsourcing” or “FOMO”? Even if you’re sure your audience will understand these newer terms, most formal types of communication aren’t quite ready for them.
If you’re aiming for a friendly, conversational tone, go ahead and use newer terms to liven up your writing. Just be sure that the term is relevant and that you always define it in first use if you’re audience won’t understand it. (You may need to point out that FOMO means “fear of missing out.”)
Go ahead and use newer terms to liven up your writing. Just be sure that the term is relevant and that you always define it in first use if you’re audience won’t understand it.
New words in formal prose
Even in a more formal context, new words enter the lexicon. We’re seeing terms like “blockchain” and “regtech” increasingly showing up in whitepapers and brochures. These aren’t terms most people were familiar with a few years ago, but now they’ve entered the mainstream.
That means avoiding them in your writing could be a challenge. And if you’re in the financial services industry, it wouldn’t make much sense. Do, however, take the time to define these types of newer terms unless you’re sure your audience will know what they mean.
Remember that people outside of your industry may need more time to pick up industry-specific terminology.
Looking for writing help? Contact us at 416.925.1700, 844.243.1830 or info@ext-marketing.com.
5 tips for creating stronger infographics
It can be difficult to communicate complex ideas or hold a reader’s interest in number and/or text-heavy documents.
This is especially true when it comes to financial services marketing, where it’s important that we clearly communicate the hard facts that support our messages.
Infographics are a great solution. They can take complex concepts like financial market trends, demographic changes or asset class performances, and make them instantly understandable through the visual shorthand of colours and shapes.
Through the use of numbers and graphics, infographics are easy-to-understand tools that quickly relay important information to your audience. Here are five key ways to make your next infographic stronger:
Stay focused
It’s important to keep your infographic streamlined and focused on a single topic. It’s not an opportunity to pack in a collection of unrelated facts and figures. Instead, try to isolate the most important point you want to make – and drive that point home through your infographic. Other important topics can be covered in future infographics.
It’s important to keep your infographic streamlined and focused on a single topic.
Simplicity is key
Infographics are beneficial because they can visually represent advanced information in simple, understandable ways. But they can easily become a complex overload of icons, graphics and fonts, which muddy and distract your reader from key messages. Simple is better, so let your main point shine through by sticking to just a few visual elements.
Know your audience
Successful infographics adopt a style and address interests specific to their intended audience. You can miss the mark by focusing on irrelevant concerns or too wide an audience. Figure out who you’re speaking to – e.g., professionals, Millennials, retirees – and craft your infographic accordingly.
Figure out who you’re speaking to – e.g., professionals, Millennials or retirees – and craft your infographic accordingly.
Size matters
Infographics may be resized a lot before being finalized. For instance, they may be designed large but compressed later for the web, which can hurt readability in the process. Make sure viewers can easily see the smallest fonts and images, no matter the format.
Pick a solid headline
Just like great articles, great infographics have strong headlines that capture attention and draw readers in.
Some key elements to remember when creating a great infographic: use an active voice over passive one, keep it short enough to understand and include a benefit to your intended audience.
Next time you have an important concept you need to share that involves complex information, try an infographic to get your message out there loud and clear.
And remember to ask us how you can make your next infographic even stronger by making it animated.
Need help crafting an interesting and easy-to-read infographic? Contact us today at 416.925.1700, 844.243.1830 or info@ext-marketing.com.
Read more:
https://ext-marketing.com/marketing-articles/5-steps-custom-content-engagement/
Using plain language in your financial writing
If you write content for the financial services industry, you likely write for a variety of audiences.
Some of the people who read your content may be advisors. Others may be new investors who are still learning the basic concepts of investing.
You can make your content more accessible to everyone by following a few plain language principles.
The truth about plain language
Some people think that plain language is about “dumbing things down.” It’s not. Plain language is about expressing yourself clearly and concisely without being condescending or making anyone feel dumb.
What might make someone feel that way? Having to look up every fifth word they read in the dictionary or giving up on an article because it’s too dense and exhausting.
Plain language is about expressing yourself clearly and concisely without being condescending or making anyone feel dumb.
Imagine a doctor who speaks like a medical textbook. Every other word they say is over your head and, despite asking good questions, you give up on having a meaningful conversation.
You know you’re an intelligent person. But you’re going to feel much less intelligent if your doctor insists on saying “Choledocholithiasis” instead of “gallbladder stones” and sighs when you ask them what that means. Especially since there’s no reason for a doctor to avoid using a common and easily understood term like “gallbladder stones.”
Three elements of plain language
Without “dumbing” anything down, you can get your message across to a broader audience by focusing on these three things.
1. Organization
Break your article into chunks so readers can scan it quickly and easily. This means using heads and subheads relevant to what you’re about to say.
Make sure each paragraph focuses on a single topic. If you move onto a new topic, move onto a new paragraph, too. Readers find it easier to digest one main thought at a time.
2. Sentence and paragraph length
Try to keep your sentences under 30 words and limit each paragraph to three to five sentences. If you have a long sentence that can’t be broken up, try putting it into bullet points.
3. Word choice and style
Write in a conversational tone and use active voice as much as you can. Avoid industry jargon that most people outside of your industry won’t understand, and delete unnecessary words.
Avoid industry jargon that most people outside of your industry won’t understand.
Choose familiar words over more obscure words, but don’t avoid long words that would be easily understood by your audience just because they’re long.
Take a look back through this post and you’ll see that we’ve used some long words, but we’re confident our audience will be fine with this.
A word on design
There’s a strong design element to plain language, which might be something you don’t have much control over. However, using a readable font and including lots of white space will make your content easier to read.
Plain language in action
Here’s a short before-and-after example of the three elements of plain language in action.
Before
“Despite a year filled with market and operational headwinds, much positive feedback was given to us by clients in recognition of the merit of our customer service, superior attention to detail and unyieldingly honest marketing campaigns.”
After
“Despite a challenging year, our clients told us they appreciated our commitment to customer service, attention to detail and honest marketing campaigns.”
What we did
- Kept the sentence under 30 words
- Used active voice
- Deleted industry jargon
- Deleted unnecessary words
Looking for plain language expertise? Contact us at 416.925.1700, 1.844.243.1830 or info@ext-marketing.com.
Read more:
https://ext-marketing.com/commentaries-articles/writing-for-investors-avoid-industry-jargon/
Writing for investors? Avoid industry jargon
Like most highly specialized industries, financial services has a unique set of words and phrases that mean little to people outside of the industry.
That’s essentially the definition of industry jargon, and it isn’t always a bad thing. For example, when you’re writing or speaking to other professionals within your industry, those industry-specific words and phrases can sometimes be the fastest and most effective ways to communicate.
But when you’re sharing information with anyone who doesn’t work in financial services, including investors, industry jargon can be confusing at best and completely meaningless at worst. Here, we’ve chosen five terms to avoid when writing for investors.
1. Headwinds/tailwinds
To people outside financial services, headwinds and tailwinds are something they experience when they’re on an airplane. When they fly west, they have to deal with headwinds, so their flight takes longer. When they fly east, they benefit from tailwinds, so their flight is a bit quicker.
Hmm… that must mean that headwinds are bad and tailwinds are good, right? Usually, but your reader had to make a lot of connections before they could figure out what you were trying to say. Why not say “challenges” or “benefits” if that’s what you mean? Better yet, be specific and explain exactly what challenges or benefits you’re talking about.
Be specific and explain exactly what challenges or benefits you’re talking about.
2. Secular
This is another term that takes on an entirely different meaning outside of the financial world. It generally means the opposite of spiritual or religious. If that’s what you’re writing about, “secular” is absolutely the right word to use. If not, the term you’re probably looking for is “long term.” To avoid any confusion, keep it simple.
3. Upside potential/downside risk
For people who don’t have in-depth knowledge of banking and investments, these terms lack any meaning.
We understand that it’s much simpler to write “upside potential” than it is to explain that you expect a certain stock price to increase over the short term and to tell your readers why. But if your audience doesn’t understand what you’re writing about, why write it at all? We would say the exact same thing about the term “downside risk.”
If your audience doesn’t understand what you’re writing about, why write it at all?
4. Alpha and beta
When an investor reads about a fund’s performance, they typically care how that fund performed relative to a benchmark index. If a fund had higher returns than the index, just say so. There’s no reason to throw the word “alpha” in there.
The word “beta” is a bit different, because it has a very specific meaning when you’re talking capital asset pricing models, and there’s no other word that quite works. If you have to use “beta” in that context, consider defining it for investors.
However, we find that “beta” is often used to mean risk or volatility in general. If that’s what you mean, either of those words would be a much better choice.
5. Underlying fundamentals
This one makes our list because it can mean so many things that it becomes almost meaningless to investors. If you’re writing about a certain company, are you focusing on its revenues, earnings, assets, liabilities or all of the above? The defining “fundamentals” of a given sector could range from pricing structure to regulatory issues to supply versus demand.
The term gets even fuzzier when you’re talking about the underlying fundamentals of a broad market. Avoid this term completely and explain exactly what factors you’re concerned about or encouraged by.
This list is far from complete, but it’s a good place to start if you’re looking to make your writing more investor-friendly.
Looking to make your investment commentaries more accessible to investors? Contact us at 416.925.1700, 1.844.243.1830 or info@ext-marketing.com.
Read more:
https://ext-marketing.com/commentaries-articles/5-reasons-investment-commentaries-arent-bad/
They’re ba-ack! Are you prepared for year-end investment commentaries?
Year-end investment commentaries are coming. And they’ll stop for no one!
While we’re just having a little fun with the title, we do produce 1000s of commentaries every year. So, we know the pressures you face.
Investment commentaries involve content from many sources, need numerous reviews and approvals, and have non-negotiable timelines.
To make the process as streamlined as possible, it helps to compile some key information in one document – and as early in the process as possible. We recommend starting today. It will help remove a lot of the stress that comes with commentary projects.
Create a fund info list
It’s worth the time to create a reliable reference list that includes full and correct information for things that need to be precise, or that you need to check often. Over the years we’ve learned to include:
1. Fund names
Use exact names – is it Canadian Small Cap Fund or Canadian Small-Cap Fund? Be sure to update this list with any new mandates or name changes (TIP: a Simplified Prospectus is often the best place to confirm full fund names).
2. Benchmark names
Precision helps here too. These are difficult to check against external sources. Even the index providers themselves can use different names on their websites, so your company’s style should be followed.
3. Portfolio manager and sub-advisor names
Keep an exact list and update it regularly, since sub-advisors change often and companies’ legal names do as well.
4. Underlying funds
The more exact the list, the easier it will be to cross-reference your information. This becomes more important as your firm launches more fund-of-fund and managed solutions.
5. Inception date
This information will help your writers know how to position the attribution information in your commentaries. Again, if your firm is expanding its product shelf, you can avoid wasted time working on commentaries that should not have performance info.
Remember your translators
If you produce investment commentaries in more than one language, a version of this list with your company’s chosen terminologies will be invaluable for translators. This document could literally save your firm hours of work.
Next steps
Share this list with your writers, editors, reviewers – and anyone else who may need to use or check this kind of information. While everyone should be able to see this document, a much smaller group should be able to edit it.
A fund info list is powerful when it is reliable. If not, it’s about as useful as an old TV from the 80s.
Let us help you produce high-quality investment commentaries. Contact us at 416.925.1700, 844.243.1830 or info@ext-marketing.com.
Read more:
Why (and how) you should take a stand with your content
Taking a stand with your content may sound like a scary prospect for financial services professionals. Let’s be honest, presenting your best (and polished) self is the norm and revealing how you really feel, imperfections and all, seems like it may damage your reputation.
It won’t. The financial services industry is going through the same massive changes that all industries are grappling with and making a real connection is now expected from your clients and prospects.
Be authentic
People immediately see through inauthentic content, so be the real you. Inauthentic sounds scripted and it sounds like it’s been repeated many times before.
People immediately see through inauthentic content, so be the real you.
Authentic content, on the other hand, shows that you have something most people feel is now missing in the financial services industry … a heart. Your opinion on an issue, expressed in your voice, is unique and people with appreciate it.
Be client focused
Whatever you decide to focus your content efforts on, make sure your current (or ideal) audience is interested as well. So take a stand on an issue that matters to your clients and prospects.
To start, find out what inspires or concerns them. How? Ask. You can ask for feedback online, in person or, if you have a list of people who have signed up, through email. Review the responses and see if any of the issues that matter to your audience matter to you as well.
Be interesting
Don’t underestimate the power of being interesting. When it comes to content, being boring may even be worse than being wrong. We all make mistakes … but once you’re boring, you’re always boring.
By taking a stand your voice will inevitably shine through. When you focus on an issue that gets your heart racing and stirs up emotions, you’ll have fun. Your audience will feel the same way.
When you focus on an issue that gets your heart racing and stirs up emotions, you’ll have fun. Your audience will feel the same way.
Be motivated
We know this for a fact: producing content over the long haul is a real test of your will power. On those days when you feel like you’ve run out of ideas, you’ll be thankful you can produce content that interests you.
If you care about your content, you’ll stay committed to it; week in and week out.
Some issues that matter
Don’t know where to start? Here are just a handful of financial and social issues that matter to many savers and investors:
- Socially responsible investing
- Low fees
- Fiduciary responsibility
- Retiring well
- Gender equality
- Animal rights
- Environmental protection
Do any of them align with your beliefs? If so, start brainstorming and see if you’re interested in producing content that explores these issues.
The world’s most successful financial services firms choose us for their content initiatives. Contact us to find out why: 416.925.1700, 844.243.1830 or info@ext-marketing.com.
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Short content? Long content? Let’s discuss what’s best.
What’s the ideal length for a blog post? What about a whitepaper? An email?
Here at ext., the right length for any piece is always being debated. The conversation starts with: what type of content is better suited to short, snappy writing versus longer, more heady writing?
The obvious response is: “It depends.” And we totally agree.
So, let’s walk through a few examples of the work we’ve done recently to figure out why we decided to keep it short and sweet or to go deep and detailed.
Short content – calls to action can dictate length
A very big bank recently approached us to write a series of articles for ultra-high-net-worth business owners. At first blush, we thought this audience would want more detail.
After our meetings with key stakeholders, we uncovered that the call to action wasn’t to ask for more information directly from the advisor but to set up a meeting with a team of in-house specialists.
If we went into too much detail, the advisor might be expected to know highly complicated tax and business planning strategies, which isn’t a fair ask.
To keep the message clear, we kept it short and highlighted key ideas. We also included some thought-provoking questions.
Long content – complex analogies require direction
We recently wrote a speech for the CEO of an investment firm. Sometimes clients request only bullets if the speaker is a pro. In this case, the CEO was very confident and preferred to speak “off the cuff.”
After going through the briefing process and interviewing key stakeholders, however, we realized that the CEO wanted to make some complex connections between ideas.
Despite being a great speaker, elucidating on these connections could be challenging in the moment. Rather than structuring the speech in point form, we decided to provide sufficient details and delivered a final speech that was about 20 pages long.
Short content – one idea, many pieces
An investment firm asked us to create an article that simplified the complex strategies employed by a portfolio manager.
This kind of writing is what we love the most: helping investors make informed decisions about high-quality solutions.
After working our way through the discovery process, we recommended cutting the piece up into much smaller pieces. Short pieces of content that have one highly specific idea would be best. And they were.
Long content – complex ideas for a pro audience
A large, global asset manager engaged us to write a whitepaper for analysts.
This might seem like the most obvious example of long content, but just because people can go deep into a topic doesn’t mean they want to. Our challenge was to recognize the opportunity and figure out if the content matched the desired outcome.
After a number of interviews, we all agreed that the client had the time to read longer content. We went long, crafting a challenging whitepaper to help build the brand as thought leaders among a demanding audience.
There you have it. The ideal length for a piece of content really depends on the situation. What matters most is that you spend the time to engage all stakeholders, ask probing questions, apply what you’ve learned from previous projects and work with talented people who can produce what you need. Every time.
If you’re facing a content challenge right now, contact us today at 416.925.1700, 844.243.1830 or info@ext-marketing.com. We’d love to help you out!
Read more:
From FOMO to tweetstorm, how to handle newer words in your firm’s content
Feedback on passing along feedback to your writers
The dance takes place every day in marketing departments throughout the financial services industry. Drafts of marketing materials are circulated to key stakeholders for comments. Updates are made, more reviews take place and then, at some point, the cycle concludes and the pieces are signed off.
How smoothly the review process runs hinges largely on how feedback is gathered and disseminated to your writers.
Full disclosure: This post takes a writer’s angle on feedback, so the perspective will be skewed for sure. If you’re a marketing manager or in another role where you pass along feedback to writers, please be sure to send along your challenges and experiences and we’ll be happy to share.
Feedback comes in many forms
First off, reviewers of marketing materials work in different parts of the company: from product, sales and marketing to legal, compliance, investments and more. So it’s not surprising that everyone has a different way to provide feedback. We’ve seen it all over the years:
- Tracked changes or blackline edits
- Comment boxes in the document
- Edits appearing in different colours
- Copy revisions made using the “text highlight” feature
- Handwritten changes of varying legibility
- List of comments via email, a phone call, fax or in person
- Sticky notes plastered onto hard copies
- Insert your favourite method here
Needless to say, the review and feedback process can easily derail if it’s not managed effectively.
Compiling vs. consolidating
One way to provide feedback is to compile it. In this case, a marketing manager circulates drafts and then sends all edited documents to the writer.
Some marketing managers will take it a step further and compile all the feedback into one document. That’s closer to what a writer needs, and it can position the marketing manager as the true “point person” on the project. We believe that the most efficient way to move feedback to the writer is through consolidation, not compilation. Why? Sometimes reviewers provide conflicting comments.
The most efficient way to move feedback to the writer is through consolidation.
For example, someone might write, “This sentence would be great in the intro. Move it there.” Another reviewer might say, “This sentence belongs in the close. Move it there.” What’s a writer to do? The marketing manager can weigh in and decide how to direct the writer.
One more example to consider
Sometimes reviewers pose questions. There may even be a running debate as different points of view are aired. It may not productive for the writer to sift through these unanswered questions in order to figure out next steps. This is where the marketing manager can step in, meet with or call the reviewers involved, and resolve any outstanding issues before the consolidated feedback goes to the writer.
It takes and strong team and a locked-down process to produce the strongest, most compelling marketing materials possible in an efficient manner. And this is a great opportunity for marketing managers to shine. How efficient is the review/feedback cycle in your company?
Want more insights on how to master the feedback process? Contact us at 416.925.1700 or info@ext-marketing.com.
Four questions to ask … before you start writing
We believe growth is driven by technological innovation and a human touch.
Here’s an example of what we mean: technological innovation is clearly reshaping analysis, tracking and all things data. But writing still demands a human touch. People can feel it.
This is especially true in financial services, where there’s a surplus of data but a shortage of context.
Despite the hype, new(ish) technologies like natural language generation still face limitations. As a result, creating authentic, meaningful content for people who need it hasn’t been disrupted … yet.
So, if you work in the financial services industry and want to write engaging content, here are four questions to ask yourself before you start writing.
1. Do I know the purpose of this piece?
Are you trying to create awareness of a new product or upcoming event? Are you trying to drive traffic to your website or increase sales?
You’ll want to know what you’re trying to achieve before you start writing. This is especially important if you have input into the type of material you’ll be producing (e.g., a one-page fact sheet versus a whitepaper).
2. Who am I speaking to?
Your language and tone will likely change depending on whether you’re writing for Millennials, Gen Xers or Baby Boomers.
It will also change depending on whether you’re writing for existing clients versus prospects, industry experts versus a more retail-oriented audience. Writing something for employees? That’s another market that needs specific language and information.
Making sure you find out everything you need to know about your target audience is key to your success as a writer.
3. Does this piece have a tone and style?
Before you start writing, ask for existing examples that garnered positive feedback. This will give you a good idea of the preferred tone (for example, formal versus more casual).
Also ask if there’s specific terminology that you should avoid, like jargon or very technical language.
4. What’s the timeline for this piece?
This information may not change the way you write a specific piece, but it’s important information to have. If the timeline is too tight, you’ll want to manage everyone’s expectations before you start writing.
Read our post about quality, speed and volume for more insight on how to manage the pressures of content creation.
Having all this information before you start writing will help you write engaging content, every time.
Do you have questions about creating content? Contact us today at 416.925.1700, 844.243.1830 or info@ext-marketing.com.
Read more:
Quality, speed, volume: Manage the variables of content creation in hectic times