Asset managers consistently tell us that they do well when they get in a room with a prospective LP. This can be expected. There is no stronger form of communication than a face-to-face meeting. Outside of the impact of words, it is also possible to project confidence, passion, and enthusiasm, amongst many other things. Subtleties such as these are hard to capture in materials. It’s impactful.
What happens when you take away the face-to-face meeting?
Unfortunately, this is where many asset managers find themselves. The marketing deck has always been a stop gap to survive long enough to get in a room. Many have never really taken the time to ensure their website and digital footprint echo their voice. Most managers have entirely ignored video. Again, it has always been about face-to-face meetings.
Butchered Zoom meetings abound, websites are being hastily re-written, and marketing decks are being updated. All of a sudden, managers are scrambling to ensure their materials reflect their true voice.
In reality, however, LPs have been breezing by unsuspecting managers for some time now. Be it Preqin, press coverage, or word of mouth, LPs hear things and quietly investigate in the background. More often than not what they encounter is unimpressive, or an inaccurate reflection of the sophistication and skill of the manager. They come, they go – the manager is none the wiser.
Current events have forced asset managers to reflect on whether their marketing materials and messaging are both aligned and adequate. The potential negative impact of not adjusting feels imminent to all in the industry. That said, the only difference between today and yesterday is that managers have been forced to confront a problem that has been stunting their growth for years.