MME: Digital Media Democratizing Mutual Fund Marketing

Money Management Executive
10/04/2010

2010 is turning out to be the year of Fund Marketers' Lib.

Content-rich e-mail campaigns and social media that showcase economists' and leading portfolio managers' opinions, are replacing hard mutual fund sales pitches. In fact, 50% of the 16 largest fund companies, including Fidelity, Putnam and Vanguard, are on Twitter, according to New York market research firm Corporate Insight. Forty percent are using Facebook, and 19% are blogging.

Following the divestiture of many mutual fund divisions by banks, and amid a more conservative approach by many investors, "bank fund families are committing to telling their story," said Dan Sondhelm, partner and vice president with marketing and public relations firm SunStar Strategic, Alexandria, Va. "We have seen a number of bank fund families figuring out how to reposition themselves and then carrying this out through marketing, PR and an enhanced sales team."

The aim is to reach and gain better "access to RIAs through e-mail marketing, webinars and access to their portfolio managers," Sondhelm said.

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