Three quarters of private investment management firms are producing content regularly to support thought leadership, according to new research released this week by BackBay Communications.
The ‘Family Offices Tiptoe into the Spotlight’ study found that private wealth management advisory firms have become much more interested in publishing content and undertaking general marketing tasks compared to past eras.
BackBay founder and CEO Bill Haynes said that content has become a primary tool for honing brand messages and using corporate websites as a means to sharing them with important shareholders.
Haynes noted that editorial-style content and whitepapers are enabling these companies to strengthen thought leadership and effectively manage PR, both of which facilitate stronger ties with clients and shareholders.
The study found that 55% of family offices have now launched websites and that 75% put out content that offers advice, insights and updates on a weekly to monthly basis.
The benefits of content marketing have led to an industry-wide reappraisal of PR as family offices have previously been active in their attempts to avoid any form of public exposure.
Content is now seen as a compelling tool for conveying “key differentiators” and showcasing why a particular firm may be a better option for certain assets.
BackBay senior VP and head of content development Ken MacFadyen said: “They used to perceive marketing as a risk, but websites and content are allowing family offices to test the waters and share their narrative in a controlled and measured way.”
In addition to positioning themselves as preferred buyers for clients and stakeholders, the study found that content is also helping key players to “shape the public discourse”.
A range of articles, blogs, videos and whitepapers are being used to touch on causes that are important to family offices and its clients, which is also leading to positive changes and conversations elsewhere.