We’re biased of course, as the team at Emerging Insider has our fair share of experience in absolutely rocking, rolling and expanding business for funds of all manners via public relations and marketing, but we are a) picky with who we represent and b) certainly not the right choice for all.
Hedge fund PR is a separate beast from any other type of public relations project as the regulations tend to be more intense and the goals incredibly performance-driven. Many folks claim to be able to perform well here only to begin a campaign and realize they are in way over their heads. What are the top traits you should look for when screening a new firm?
Regulatory Savvy: The benefit of a younger agency is their drive and knowledge of the newest forms of tech and media to help your initiatives flourish. The downfall is that they have yet to first-hand experience exactly what can happen in the finance world with even one small regulatory error in a marketing campaign. While one doesn’t need to show their scars, a great marketing agency should be able to wear the stripes they have earned and tell you how to avoid these pitfalls.
Thought Leadership Pros: Few things add to the credibility of a hedge fund than exceptional thought leadership in the form of written bylines for external publications. While media hits and expertise placements are powerful, thought leadership is often both more practical for a fund, while also being less thought-out by most agencies. In other words, engaging a firm that is able to consult, execute and perform the heavy lifting on thought leadership campaigns can be priceless. It all comes down to asking for examples, case studies and even examining their own third-party content in the market.
Industry experts: Funds are unique in that the marketing pros that deal with them must be well versed not only in the ins and outs of financial marketing, but also often the sector or industries in which the funds invest. If a fund is primarily playing with telecommunications, you best make sure your firm has experience, connections and know-how specifically in telecommunications.
Short and long term planners: Many campaigns orchestrated by business or consumer brands may be capable of only maintaining a short term promotion to garner mindshare or direct actions for their clientele. Goals change and are variable. Funds however, require that a marketing firm put in both short term executions as well as long term strategy given the unique nature of the performance driven market. Every element must be in place, functioning and driving impact at all times, which is not the easiest of challenges.