Thoughts

LinkedIn Groups Stink

I don’t suppose this post really needs any further words. The headline says it all. But since I don’t like to be purely black-and-white, let’s go deeper.

In two words: Not Good.

Did you know that a Google search for the phrase “LinkedIn groups stink” yields ZERO results? I was shocked. It’s the only time in memory that a reasonable (to me) exact-phrase search gave me nothing.

My interactions with LinkedIn Groups at this point typically involve:

  • Checking out a group a friend or client is part of that seems relevant
  • Signing up, then reading the first e-mail digest I receive from the group
  • Reading the second e-mail digest
  • Deleting subsequent, unopened e-mail digests from the group until a few weeks pass and I finally drop out

If you’ve ever been part of a group you know that the active ones are dominated by self-promoters, purposeful instigators trying to be provocative, and job postings. The flipside of active groups are those that are de-facto broadcast tools without any real conversation or interactivity. It’s a bit of a lose-lose proposition.

I’m not saying that groups are NEVER helpful or NEVER have useful information, but that the hit rate is so low as to be essentially zero.

I looked for arguments supporting groups to see what I’m missing. One that triggered a positive reaction was this post about using statistics to vet groups before you join them. The premise is that you can’t just “hang out here and there” for groups to work, which is potentially reasonable if not necessarily ideal for most people. I want groups to be useful with as little effort as possible on my part, and I imagine most people feel the same way.

So, for now, I’ll remain a skeptic when it comes to LinkedIn Groups, with the very real possibility of becoming a deserter over the next few months.

Improve Your Blog (3 of 5)

In the last year, industry blogs have improved dramatically. We’ve seen firms inject personality (our first part in this series) and increase the frequency of posts (our second part in this series). This post covers including graphics (not stock photography).

Most blog posts topics cover (or begin with) macroeconomic issues. That makes sense for a few reasons. First, macroeconomic issues don’t worry compliance too much. An analysis of Greek debt has no inherent product push or firm advertisement. Second, investment teams are (often) analyzing big themes for investment opportunities, so the blog post can be a natural output from the analysis.

Yet, many of these macroeconomic blog posts are solely prose. We think that’s a mistake. One or two straightforward graphics enable the viewer to understand the author’s perspective and quickly decide to read (or not) the prose. A well-placed graphic increases the likelihood a blog post is read (especially when the post is more than 1 – 2 paragraphs).

 … [read more]

Consider the Cost of Feeding a Campaign First

One of modern business’s most cliche ideas is “if you build it, they will come.” That iconic line from Kevin Costner’s last good movie gets abused in all contexts. So it was refreshing to hear the opposite sentiment during the MFEA Distribution Summit.

There’s an uptick in new marketing campaigns. Some campaigns are product-focused (Global Funds and Oppenheimer). Some are channel-focused (New World, BlackRock, & Retail). Some are pricing-focused (5x and VG). In most cases, the campaigns drive people to learn more via a comprehensive Web site and hopefully campaign-related interactions with Sales.

Marketing organizations need to drive people to investigate the concepts behind the campaign. Build a campaign with a microsite and they will NOT come. You need to compel “they” to come. Those resources, such as television, print media, radio and social media, are not trivial. Actually, they can be very expensive.

Before thinking about ROI or other financial metrics, ask one crucial question: how much is the organization willing to spend in order to compel the desired prospects to listen? Take that number to the PR and Media groups and ask for an estimated sizing: for that amount of spend, how much media can the organization purchase.

Designing a campaign and building the creative executions is the first step. In our industry, a few firms advertise often and effectively. These firms have processes (not dissimilar to a consumer products company) that begin with those questions. For some mid-sized or small but growing firms, those processes may not exist, so analyzing the full cost, time, and resources first is a good approach to advertising.

If the estimate doesn’t seem sufficient to compel prospects and clients, then using those dollars for something else may be more effective.

Improve Your Blog (2 of 5)

In the end of 2011, tThe industry welcomed new blogs (Columbia Management, AllianceBernstein, and Jim Swanson of MFS) as well as second edition blogs from a few firms (e.g., Franklin Templeton’s Beyond Bulls & Bears). Our best series has never had so much selection. Our first idea to improving your blog was obvious: inject personality.

The second idea is also pretty straightforward: blog frequently enough. What’s enough? That will be different for every firm but here are some guidelines.

  • More than five per week is too much.
  • Less than once per week is too little.

1 to 5 is the right range because it keeps your investment team top of mind without being overbearing. There’s a relationship between frequency and length. And we’ll explore length in the next edition.

Marketing Munis

While reading about the Supreme Court’s decision, Google served this ad (see below) on The New York Times Web site. The landing page provides an introduction to DWS municipal bond funds along with a video.

Two positives about the video:

  1. Freshness – The expert cites Stockton, CA as a source of concern. Stockton declared bankruptcy less than two days ago.
  2. Q & A Format – Two people on camera is four-times more interesting than one person. And the questions are pretty interesting.