5 steps for a successful marketing materials audit
If your department is undertaking a wide-sweeping marketing materials audit to identify stale messages and outdated figures, or if your firm is taking its marketing initiatives in a more digital direction, this five-step process will help you lead your team through this seemingly complicated process.
Step 1: Setting your auditing goals
Before jumping into writing and design, before you even begin hunting down all of your firm’s old marketing materials, we recommend that you clearly define your goals. Why are you conducting the audit? How will the audit help your marketing initiatives going forward? Typical answers are:
“We want our marketing materials to be relevant and have a longer life.”
“We want to lower our long-term marketing costs via fewer refreshes and fewer print runs.”
“We want our marketing materials to be read by a wider audience.”
“We want to engage our clients and prospects in new ways.”
Step 2: Create a content map
Now that you’ve clearly defined your goals, it’s time to categorize and reprioritize your marketing materials.
Start by using the goals that you defined in Step 1 to determine your grouping methodology. Ways that are more traditional include grouping your materials by product or campaign. Lately, however, we’ve seen a shift to grouping materials demographically or by life stage. For example, if you are trying to target millennials, you would list in a spreadsheet all the materials that apply to this cohort.
If you group materials demographically, you’ll find that many of them apply to savers and investors at different life stages. Make sure these materials end up in both buckets. Why? When you rethink formats in Step 3, you may decide to deliver similar content in radically different formats depending on who you’re engaging.
Step 3: Rethink formats
There’s a good chance the majority of the materials that you’re auditing are print brochures. And there’s an even better chance that your firm wants to take many of them in new digital directions. A marketing materials audit is the ideal time to have these discussions.
While you may simply update these brochures, keep in mind that infographics, microsites and online articles are all great ideas because they are engaging, sharable and easy to update, all of which deliver on the goals outlined in Step 1.
Step 4: Audit your resources
Is your team big enough to handle the updates and fill in the gaps that you identified? If the wide-ranging scope of a marketing materials audit seems too large, complex or time consuming, think about hiring a content partner who can help create a strategy for your refreshed content.
If you need additional resources, make sure that your content partner has the product and industry knowledge to effectively round out your team.
Step 5: Production
Now that you know what marketing materials you have and which ones you want to refresh, it’s time for your writers, designers and developers to get to work. Coordinating your resources is time consuming. But clear timelines and focused work – that is, strategically working through your list without running too many refreshes at once – will help your team deliver great results.
Next steps
Although a marketing materials audit will create some challenges, especially as your typical day-to-day responsibilities aren’t going anywhere, following these five steps will ensure that this challenging and exciting initiative goes more smoothly.
If you want to read more about auditing your marketing materials, read our post on how to better align your materials with your sales team.
Does it sound like it’s time for a marketing materials audit? Contact us at 1.844.243.1830 or info@ext-marketing.com.
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.
Got an execution problem? We can solve it.
As you scale up your content initiatives, you’ll likely run up against a challenge that many marketers have had to contend with.
You might be running email campaigns, newsletters, blogs, etc., on top of all the day-to-day deliverables, campaigns and product launches – and conducting weekly (or even daily) brainstorming sessions to generate awesome content.
Your team is building a solid reputation for engaging content. This is success. And with success comes this problem: you’ve run out of time to produce the content you need.
What you have is an execution problem. Trust us, we’ve been there.
“What you have is an execution problem. Trust us, we’ve been there.”
The big picture
In the grand scheme, an execution problem is a manageable problem to have. A worse problem is an idea problem. You’re in trouble if your marketing team doesn’t have any ideas.
An execution problem is manageable because you can take measured steps to solve it. There are three things you can do: hire more people, improve your processes and/or outsource.
There’s a good way and a bad way to do any of these. Let’s explore what we’ve done in the past and what we now know is the right thing to do.
1. Hire more people
The bad way
Hire whoever comes knocking at your door first, and give them a trial by fire. This approach is appealing because it’s immediate. But we all know that good talent is hard to find, And too much turnover means your content team can’t gain the traction they need to plan effectively, among many other issues.
The good way
Hire talent. Hire a specialist. Hire a culture leader. Here’s why. You’re going to run into this same execution problem again in the future if you don’t find the ideal fit. If you’re already working with the best, you’re starting from a position of strength.
“If you’re already working with the best, you’re starting from a position of strength.”
2. Improve your processes
The bad way
A top-down initiative, like implementing a new content management system without really, palpably feeling the problem, may seem like a good idea because, again, the solution is immediate. However, while an execution problem is a relatively good problem to have, it is still a nuanced problem that’s in need of a robust strategy.
The good way
We believe that bottom-up initiatives are best. So, interview everyone producing content. Solicit their feedback immediately and regularly to stay on top of the challenges they face. Here’s a tip: start by finding your content team’s bottlenecks. Relieve this pressure and watch the content flow.
“Here’s a tip: start by finding your content team’s bottlenecks. Relieve this pressure and watch the content flow.”
3. Outsource
The bad way
Outsourcing to many independent contractors. This sounds appealing because you’ll have access to a diverse set of ideas. But this approach can be painful. Managing the admin, like invoicing, will steal hours of your time each week.
And the content you receive from this disparate group will likely be inconsistent, meaning different qualities of work, different styles and tones, etc. Not a good use of already strangled resources.
The good way
We’ve been doing this for a while and we can honestly say that the best approach is to hire a specialist agency that already has the teams and processes in place.
An agency that specializes in financial services content will have a minimal learning curve. They’ll be able to hit the ground running and tap into best practices and insights that individuals or generalist agencies can’t access, apply or even know. Here are nine more reasons to work with a content partner.
When things get tough, remember: an execution problem is manageable … if it’s managed well.
Want help solving your execution problem? Work with the specialists who are leading financial services marketing. Contact us at 844.243.1830 or info@ext-marketing.com.
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.
A great pitchbook is important to every hedge fund manager’s success
Raising capital to launch a hedge fund isn’t easy. No matter how experienced you and your team are, or how great an investment philosophy or strategy you have, there’s always plenty of competition when selling your idea.
Having a great pitchbook can help. Here are four good reasons why:
Helps you stand out from the crowd
When you meet with investors, chances are they’ll have already met with a number of other managers before you that day. And further, chances are they’ll be meeting with many more managers afterwards.
That’s just what investors do. The most important way you can cut through the clutter is by being confident, having a strong message, and then leaving them with a pitchbook that looks great, reads well and truly reflects what you do.
Tells people a lot more about your firm than you can in a one-hour meeting
With the number of new and novel investment strategies introduced each year, hedge funds have gotten more complex.
Chances are an hour isn’t enough time to fully explain your history, investment strategy, process, etc. to investors. And getting into the weeds is often a fast track to losing your audience. It’s best to give them a solid overview in your meeting, and then leave a great pitchbook behind so they have all the details they need afterwards.
Something to remember you by
We’ve all been there. After an afternoon of meetings before you arrive, an investor may just not be as attentive as you’d like during your pitch. And you leave feeling like your message didn’t get through to them because they’re too busy thinking about what they should do for dinner.
A professionally built pitchbook can help you tell your story through strong copy and elegant design, and is something they’ll likely remember long after they’ve eaten dinner that night.
Shows you’re totally committed to your company
The investors you meet with have likely seen hundreds of pitchbooks that were hastily written by managers who had other priorities and that were designed by a nephew in college.
A professionally written and designed pitchbook shows investors that you have put in the effort to think through your firm and its funds, and are committed to building the strongest company with the strongest brand. Those things really do matter to people who are trusting you with their – and their clients’ – capital.
It’s never been more important to have a great pitchbook help tell your story. Please contact ext. today at 1.844.243.1830, 416.925.1700 or info@ext-marketing.com to see how great your pitchbook can be.
6 best practices for creating better whitepapers
In the digital age – where marketing tools like social media and video get so much attention – we think an oft-overlooked marketing document is ripe for a comeback.
White papers have been used for many years as a form of financial content marketing. Generally speaking, white papers are designed to convey certain facts and arguments that build a case for the products or services being offered by the company that has produced the white paper.
Let’s take a look at white papers, and some best practices to help you get these valuable pieces done right.
1. Set the right tone
Your white papers should be written in conversational tone … and in the third person.
There are fewer and fewer situations that require a very formal tone. As our conversations get more casual, our writing follows. Exercising restraint is important, however, as white papers are fairly “academic,” and are often read by people who are well-versed in the topic.
2. Solve the right problem
Writing a financial white paper may be one of the most challenging marketing exercises, so make sure the problem you are solving is one that your audience truly wants solved.
Make sure the problem you are solving is one that your audience truly wants solved.
To make sure your topic engages your readers, do a little research into their needs. Survey your sales team, research online and, if you have the relationships and resources, talk to your clients directly. Remember to focus your whitepaper on your topic, and not on your product. Product-focused materials are usually considered “brochureware.”
3. Use third-party facts
Back up your points and arguments with some facts – and make sure these facts aren’t all from your in-house team.
This is where we come across one of the most significant limitations of white papers: they tend to take more time to produce than other materials. If possible, you should include some independent research to support your findings. This will enhance the credibility of your work.
4. Let your designers run wild
White paper doesn’t mean “blank paper” or “boring paper.” Luckily for you, not everyone knows this, so white paper design is a way to stand out from the crowd.
White paper doesn’t mean “blank paper” or “boring paper.” Luckily for you, not everyone knows this, so design is a way to stand out from the crowd.
Make your white paper look professional and easy to read, use a larger font, don’t crowd the copy, and experiment with design elements and themes that break up the whitespace.
5. Incorporate graphs, charts and infographics
Amid your facts and findings, well-crafted visual aids will help keep your reader’s attention.
Every data point can be backed up with an engaging chart or graph. We think white papers are begging for infographics. Since you’ll have so much data to work with, it should be fairly simple to create some easy-to-read infographics that will surely engage your audience.
6. Leverage your hard work
Remember that, once it’s created, your white paper can be leveraged for other uses. Breaking up key points and figures into individual newsletter or blog articles allows you to continue to engage your audience with your findings and to stretch out this valuable content over weeks and months.
Do you want to create more insightful and engaging white papers? Let us help. Contact us today at 416.925.1700, 1.844.243.1830 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/
Three ideas for writing better speeches
Speech writing involves a highly refined set of skills – and marketing professionals who have these skills are a hot commodity in the financial services industry.
Here are three tips you can quickly implement when writing your next speech.
1. Simplify everything
There are a few ways you can simplify your speeches. First, you can simplify the topic. People who can simplify a complicated topic are the true superstars in the world of marketing and communications.
Second, you can simplify your language. Use strong verbs, removing unnecessary adjectives and avoiding jargon are three easy wins for speech writers. Third, you can simplify your structure. Too many asides will distract your audience, so stick to the topic at hand.
Simplify the topic, your language and your structure.
2. Write like you talk
The spoken word is a different kind of animal than the written word.
Whereas in the written word, you can convey a certain level of formality by avoiding contractions and using sophisticated words, the spoken word should almost always be delivered with a more casual tone of voice.
The spoken word should almost always be delivered with a more casual tone of voice.
In speeches, contractions like “we’re” are better than “we are.” And words like “commence” should always be replaced with simpler words. In this case a word like “begin” would be appropriate.
3. Finish with a bang
It’s important to wrap up your speech by reminding your audience what you’ve told them. For bonus points, some sort of flash of creativity (like a clever quote) at its conclusion will undoubtedly make your speech more memorable in the minds of your audience.
Do you want more speech writing tips? Check out these four tips to help strengthen your next speech.
Looking for more ideas about writing better speeches? Contact us at 416.925.1700, 866.243.1830 or info@ext-marketing.com.
Read more:
https://ext-marketing.com/commentaries-articles/writing-for-investors-avoid-industry-jargon/
Modernizing an education brand
A fresh, modern look. A brand to drive the business forward. Capturing the energy of your leadership in the industry. These are some of the goals of a rebranding project.
IFSE Institute recently underwent a successful rebrand, and we sat down with Christina Ashmore, Managing Director, and Fatema Nazarali, Director of Sales and Business Development, to uncover the best practices they implemented to take the IFSE Institute brand to the next level.
ext.: The new brand looks great. Can you tell us a bit about why you chose to rebrand IFSE Institute?
Christina Ashmore: Over the past few years, IFSE Institute has really come into its own in terms of the relationship with the brand of its parent company, The Investment Funds Institute of Canada (“IFIC”).
We had a challenge with name recognition despite exceptional loyalty among our clients and IFSE’s great reputation in the industry.
At a practical level, we needed to standardize our look and feel, given that the many small changes made throughout our history had led to inconsistencies.
“We had a challenge with name recognition despite exceptional loyalty among our clients and IFSE’s great reputation in the industry.”
ext.: Can you tell us about your rebranding process?
Fatema Nazarali: Given that we wanted to modernize the look and feel of IFSE Institute and bring the company into the future, we took a comprehensive approach and started from the ground up.
Our first step was to ask probing questions about what we wanted our brand to convey. This was long before we thought about the minutia of creating a nice, new website. We asked questions regarding how we wanted to be positioned in the industry as ourselves and among competitors.
All of our branding work needed to be in line with our strategic mission and play to the strength of the organization; namely, exceptional customer service and a high-value education.
And from here the agency started working with us on developing our key messaging framework.
“Our branding work needed to be in line with our strategic mission and play to the strength of the organization.”
ext.: Did you face any challenges along the way?
Christina: One of the biggest challenges early on was finding the time to get everyone involved. We knew we wanted to get everyone’s buy-in at all stages and show the team what we were trying to achieve. We regularly showed the team how the work was progressing and asked for their feedback on creative.
Getting the whole team involved was a great experience. They provided valuable insights as we developed the creative. We believe it helped the team to embrace the new brand.
“Getting the whole team involved was a great experience. They provided valuable insights as we developed the creative. We believe it helped the team to embrace the new brand.”
Cost is obviously a challenge. So, you need to lay out the strategy from beginning to end and request customized solutions when required. While measuring the return on investment for branding is difficult, it’s important to remember that revenue generation is not immediate and there are many intangible benefits to consider. It’s definitely worth the effort.
ext.: Why did you decide to work with an agency for the rebrand?
Fatema: We recognized that we needed marketing expertise to be able to execute a rebrand strategy. By working with an agency, we could stay focused on our day-to-day deliverables and strategic goals without needing to add headcount.
“We could stay focused on our day-to-day deliverables and strategic goals.”
Our agency ensured we asked the right questions up front, long before jumping into execution. They set up the branding strategy and helped identify where we wanted to be positioned and who we were targeting.
Given the uniqueness of the financial services industry, we needed to work with a team that had specialized knowledge. They knew our clients and business partners, and were able to tie everything together seamlessly and on point.
ext.: How has the new brand been received?
Christina: The new brand has been very well received. It’s elevated our professionalism and demonstrated to the industry that we’re taking the company to the next level.
“It’s elevated our professionalism and demonstrated to the industry that we’re taking the company to the next level.”
More than ever before, people are asking to keep our brochures in their office. The new brand has really strengthened client confidence and loyalty.
Fatema: Internally, too, there’s been a strong reception. The IFSE team takes great pride in the new brand and the company. The rebrand was a positive experience for everyone involved.
Visit ifse.ca to check out the new brand.
Read more:
https://ext-marketing.com/commentaries-articles/prepared-investment-commentaries/
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.
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Editorial calendars: our content lifeline
We deliver ongoing content – e.g., blog posts, emails and newsletters – for many of our clients.
As a result, we manage a number of editorial calendars at the same time. And we love them.
Editorial calendars are our lifeline for content – they provide direction and insight day after day, week after week, month after month.
Here are a few stories about content calendars and how they’ve helped us.
Fresh content for a “new” campaign
One of our longstanding clients was launching a campaign targeted at people who are new to the country. Since we had already created and maintained a calendar that included months of content for this client, we needed to ensure that their new campaign aligned with the client’s editorial strategy.
An editorial calendar came in handy for a couple of reasons. First, we found out we had already scheduled some social media posts that would be perfect for the new campaign – with a few tweaks, of course. This fully integrated view saved time and money, and allowed us to pivot nimbly to accommodate new key messages. Otherwise, the potential of these posts may have been totally overlooked.
Second, when we added the new campaign, we could see how the pre-planned content would need to be designed to reflect holidays, industry events, etc. That way, we could ensure our client’s messages were deployed at optimal times.
And we were able to quickly assess the consequences of shifting existing messages, ensuring that the new campaign was seamlessly incorporated, with minimal risk to our client’s existing messages and objectives.
Years in, and still growing
Another ext. client has been building an industry-leading content hub. You can visit this hub and find insights into almost every single financial issue you could face. It’s remarkable, really. And, after years of producing content for this hub, we’re still going strong.
On one hand, the editorial calendar – with keywords, themes, titles and summaries – ensures we don’t repeat ourselves. We’re able to avoid any redundancies in content – except where we intentionally want to reinforce a particular theme or concept.
On the other hand, it helps us identify if and when we’ve neglected keywords, themes, etc., ensuring we stay focused on our audience’s needs. With a well-maintained calendar, these strategic gaps are easy to identify. Our client appreciates when we’re able to call out a neglected area, and give it some attention.
Finally, an editorial calendar is powerful tool to help us secure buy-in from our client on topics ahead of time, ensuring that everyone is on the same page.
Shoes for the shoemaker’s children
We’ve been running this blog since 2012. There’s a lot of brainstorming and inspiration that comes from the work we do. But of course, finding fresh content week after week can be challenging when you’re focused on your clients. It’s a bit of a double-edged sword that many firms face.
An editorial calendar gives us focus. It allows us to quickly switch gears from our client work to content that helps us win and maintain clients. We know more than anyone that it’s important to produce engaging and informative content our clients are interested in. We spend very little time struggling with a blank screen at ext.
What else can we say? Get working on your editorial calendar today, especially if you don’t have one.
Let us help you with your content needs. Contact us at 416.925.1700, 844.243.1830 or info@ext-marketing.com.
Read more:
https://ext-marketing.com/marketing-articles/four-quick-tips-for-creating-great-client-personas/
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.
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Quality, speed, volume: Manage the variables of content creation in hectic times
Quality, speed, volume: Manage the variables of content creation in hectic times
Anyone who has worked in financial services marketing long enough recognizes there are times when the workload is overwhelming. One day you’re cruising at a steady pace with projects reasonably staggered, and then the perfect storm starts brewing.
An important fund launch is coming up, your website is being refreshed and a mountain of content must be created or revised, plus your sales team wants a new suite of advisor support tools – ASAP, of course. Add to that your regular work and maybe sprinkle in a batch of portfolio manager commentaries, and suddenly your days have gone from manageable to mayhem.
If you’re leading a part or all of a marketing department, when times like this hit you – and they will – your first thought is to see if you can handle the onrush. If not, options may include outsourcing some duties to an agency, hiring freelancers or prioritizing work so you can spread out the initiatives to help alleviate stress.
The lowdown on “quality, speed and volume” (QSV)
If you still can’t make any headway, then it’s time for a frank meeting with your internal partners about this challenging confluence of projects. One proven way to frame the discussion is to view all of the competing demands in the context of QSV.
When it comes to the variables of creating marketing materials, consider a triangle where the three major points represent quality, speed and volume. In a perfect world, your department could deliver on all three measures at all times.
Then again, in a perfect world our brainstorming sessions would always yield ground-breaking creative, click-through rates would be off the charts for all of our digital content and the translation team would never be squeezed for time at the end of projects. Right, it just doesn’t happen very often.
QSV variables in action
So, back to the triangle. Inform your internal partners (or department head) about the challenges your department (or team) is facing, and let them know you’re confident in delivering two of the three points on the triangle. They can choose whichever two they value the most for the current initiatives:
- They can get high-quality materials fast, but not expect much of it (“Q” + “S”)
- They can get lots of content quickly, but quality won’t be as strong as usual (“V” + “S”)
- They can get a lot of good quality work, but it’ll take some time (“V” + “Q”)
Let’s assume that “quality” is table stakes, as you always want to produce compelling, effective materials. That leaves “speed” and “volume,” and whichever they choose will help determine next steps. For example, if they want speed then you’ll have to scale back on project components that aren’t as essential. If they want volume then they’ll need to be more generous with timelines for content development.
This discussion with internal partners likely won’t be easy and there could be pushback. They might not even choose to deviate from original plans (or maybe they can’t, for legitimate business reasons).
People typically want everything they ask for, but finding a reasonable compromise might be possible. If your partners can step back and appreciate the bigger picture, they’ll collaborate with you to devise a course of action that best meets their needs, while also maintaining the integrity of the materials without stressing out their valued team members.
Want more insights on how to handle marketing workloads when they start getting out of control? Contact us at 416.925.1700 or info@ext-marketing.com.
5 ways to spark your marketing team’s creativity
Imagine that work has been hectic lately for your marketing team. In addition to creating some product brochures, they’ve just cranked out a portfolio manager presentation, a couple of ads and maybe an infographic.
Now they’re being asked to develop a suite of materials for a fund launch, where the expectation is to whip up something innovative that will capture the attention of advisors and investors.
Give your team a boost with the following five ideas for sparking creativity.
Work together
Tackle creative challenges as a team to build upon each other’s ideas.
Focused, facilitated brainstorm meetings can work for specific initiatives, or maybe hold general creativity sessions with guest presenters and interactive segments to get everyone engaged
Log creative ideas
For reference, maintain a running log of creative ideas, industry best practices and ideas from other industries that can apply to financial services.
When your team needs a shot of inspiration, they can scan through the log for thought-starters.
Assess external campaigns
Have your team do mini case studies of a successful external marketing campaign. They can assess what works and why, and how they can apply the learnings to their own materials.
Regular sharing and discussion of marketing insights can jump-start the imagination.
Regular sharing and discussion of marketing insights can jump-start the imagination.
Leverage collective talents
Innovation and creativity aren’t limited to marketing materials.
Leverage the collective talents of your team to improve work processes or create a more vibrant and inviting work space. The benefits of this mental exercise may carry over to their respective jobs.
Give ’em a break
Let your team catch their breath by briefly switching them to a more mundane task like reviewing and updating existing materials. The goal is to let them refresh their batteries and do a creative reset.
Creativity can be a tough nut to crack. We hope these ideas help.
For more ideas on fostering an innovative, creative environment for your marketing team, contact us at 416.925.1700 or info@ext-marketing.com.
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9 reasons to work with a content partner
There are is one overarching challenge all marketers face when trying to deliver engaging, sharable content: finding the time and creative talent to produce it all.
But for financial services marketers like us, there’s another big challenge: finding people with the technical knowledge to produce accurate content for this unique sector.
Faced with these two challenges, it makes sense to work with a content partner. Here are 9 reasons why:
1. Control your operating costs
With marketing budgets shrinking across the industry, finding opportunities to manage costs is a big win for marketing VPs and managers. And using an outsourced partner to deliver this type of content can be very cost effective.
2. Improve your focus
If your marketing team has many projects on the go, the room for error expands. Having a partner that is solely focused on your content production reduces the chance of error.
3. Access expertise
A financial services content partner brings senior thinking to the table. These insights are often informed by running many projects across the industry.
4. Access new capabilities
Content partners have access to products and services that your in-house team may not, by choice or because of budgetary restraints.
5. Structured process
A content partner has a structured process specific to the content marketing world, meaning a focus on the fast and efficient delivery of your content.
6. Quicker turnaround times
Given their expertise and resources, content partners can get your work done faster. In this era of increasing content requirements, the ability to produce timely content is essential.
7. Frees up your resources
Your internal team would likely contribute more to your company’s success if they focus on strategic initiatives or on an important client. This allows your content partner to assume more of your ongoing needs, while also helping to strategizing future content initiatives.
8. Get time-consuming projects off your plate
Content, sales and practice management campaigns take a lot of time, which can distract your team from their day-to-day responsibilities.
9. Extend your team
A content partner is just a great way to beef up your team without adding headcount.