Posted July 27, 2017 by Tracy Needham
How can asset managers tell more effective product stories? That’s one of the questions we sought to answer with our upcoming report, Effective Product Marketing Strategies. And in our industry’s ultra-competitive environment, we believe it’s a critical problem to solve.
Just one in three advisors were able to think of a compelling product pitch they’d heard in the last six months, during a DST Advisors Insights study we conducted in association with Horsesmouth earlier this year. Strong product stories can differentiate the fund in a memorable way, illustrate the manager’s expertise, make a persuasive case for investment, and increase buy-in, for stickier assets. They also help make the advisor’s job easier. When clients ask, “Why this fund?” a story is much easier for most to remember and engage with than a litany of data.
Source: DST Advisor Insights in association with Horsesmouth
Products that are tightly tied to a strong brand naturally have more compelling product stories. Take Intel, for example. It was a relatively unknown company making a commodity product for more than 20 years. Few consumers knew what a microprocessor was, much less cared which company’s chip their PC used. That all changed with the launch of their $100M Intel Inside® brand campaign in 1991.
Since then, consumers have associated computers with Intel Inside® processors as faster and more powerful than ones that didn’t. The campaign has also done a good job of communicating the benefits of that brand promise—that Intel Inside® meant software and games would run faster, with fewer issues.
These brand-centered product stories paid off, helping push the company’s market cap from $10.2B to $208.5B and establish Intel as a household name over the next seven years. In 2016, Interbrand named Intel the 14th most valued brand in the world, with an intangible financial worth estimated at $37.0 billion.
Today, millions of consumers automatically look for that Intel Inside® logo when they’re looking for a new computer. For them the brand choice is a foregone conclusion with the only question remaining is which Intel processing chip they need to run all their software and games.
And that’s a pretty powerful position for the maker of a commodity product to be in, wouldn’t you say?
categories: branding, digital advice, product strategy, marketing strategy
The views expressed in this publication are solely those of the author and do not necessarily reflect the position or policy of DST Systems, Inc. or its affiliates, subsidiaries, joint ventures, officers, directors, or management.
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