You Can’t Create Great Content Without Knowing Your Competitors

In our first blog introducing our guide, 8 Steps to Creating Great Content, we discussed the importance of EVALUATING all the content you use to attract new investors and AUM. A complete audit and honest assessment of your content are essential in identifying what is working and where you have content gaps.

Equally essential to distinguishing your firm from others is the need to thoroughly RESEARCH your competitors and evaluate their content. By assessing what the competition is doing well and identifying topics or channels that may not be covered effectively, you’ll be better equipped to create content that potential customers are looking for. Let’s take a closer look at the second step to creating great content.

Step 2: Research

We research your sector and competitors to determine best content practices and unmet market needs. You must study the content of your competitors.

Your potential investors do.

Key questions should guide your competitive review:

• Who are the largest firms in your sector?
• Which firms are attracting the largest asset flows?
• What does their content look like?
• What content do funds or advisors similar to you provide?
• How does your content compare to your competitive universe?

Also, are there firms in your sector that are content upstarts? Nimble newcomers, who punch above their weight with great content that attracts assets and clients? When examining the content of a competitor, we recommend starting with their website. What is the user experience like? Read their thought leadership. Their blogs. Do they use video? Audio and podcasts? Infographics? Do they deliver a powerful message regardless of the technology? What are the best practices you could emulate? What specific elements can you implement?

Your competitive survey should focus on how your competitors educate clients on the benefits of their products or services. Do the materials of your competitors clearly state the value proposition of their firm, fund, strategy or service? What lessons can you learn from studying competitor collateral?

You must also study the thought leadership of your competitors. Effective thought leadership isn’t promotional or product-focused but addresses the needs of the reader. Offering insights and solutions–rather than selling–builds trust and loyalty.

You can also broaden your content review beyond your sector to learn from the content best practices of industry leaders or even other industries. Financial services has much to learn from other businesses about content marketing.

As you pursue your competitive review, ask:

• What type of content do your potential investors need or expect?
• How can you differentiate your message and make it unique?
• Can you provide an engaging user experience for your audience?
• Can you create great content to help investors and allocators decide to work with you?

The goal for your content is to develop a unique profile and point of view for your firm to stand out and consistently attract new clients and assets over time.

The need to focus on creating better investor engagement is urgent. According to the J.D. Power 2022 U.S. Advisor Online Experience Study, asset managers who provide superior digital experience and content are winning the competition for assets. The survey reveals the benefit of providing a superior website, content, and online experience:

After you have completed the research phase of your content creation plan, you will move to the PLANNING stage, which we will discuss in our next blog post.

Conclusion

Evaluating your content and continuously monitoring competitive content are essential building blocks and developing a powerful program to attract and convert new customers. Know that prospective customers are always seeking answers and solutions to their challenges. The more you know about what they are interested in, the more targeted and effective your content will be.