A multi-channel marketing campaign that taps into the complex psychology of hedge fund managers, successfully promoting the client’s data analysis tool to traders with intrinsically different investment styles and increasing website traffic by 81%.
Thomson Reuters needed to raise awareness in the UK about Eikon – a software tool designed to help hedge fund managers effectively analyse market data in real time. Although other analysis tools existed on the market, the product could be specifically tailored to suit the needs of traders with different investment styles. This key differentiator provides hedge fund managers with an edge, something the client wanted to raise awareness about.
Traders typically fall into one of two trading categories: systematic and discretionary. While systematic traders tend to value algorithmic models and historical data to inform their investment decisions, discretionary hedge fund managers are guided by their instincts and knowledge of the market. Our multi-channel marketing campaign needed to drive organic traffic to the client’s product website by promoting the software’s ability to be tailored to the needs of both kinds of investor.
We embarked on a strategy designed to tap into the complex psychology of traders by playing up the differences between each investment style. Entitled ‘Man versus Machine’, the multi-channel marketing campaign targeted individuals based on their preferences, and led audiences on a unique journey that outlined the product benefits, based on whether they were guided by instincts (Man) or data modelling (Machine).
We started with a Target Group Index (TGI) analysis, which revealed key data about where and how hedge fund managers consume media. This insight established the foundation for our marketing strategy and helped us outline a customer-centric approach that was unique for the client, as it shifted from the company’s typical proposition-focused marketing towards a more integrated offering.
Microsite – The product microsite formed the centre of our multi-channel marketing campaign, with all elements designed to drive traffic and attract attention to this one location within a six week timeframe. Once engaged with the site, hedge fund managers would have multiple opportunities to learn more about the product.
Podcast Series – Given the sophistication of the target market, we needed to engage hedge fund managers by providing additional high-quality content. Based on the research outlined in the TGI analysis, we knew that a series of podcasts featuring recognised industry experts speaking about topical financial and investment issues would be of interest.
Six episodes of the ‘Man v Machine’ podcast were recorded and produced by our team, with one being released each week of the campaign. All episodes in the series were housed on the product microsite.
Direct Mail Campaign – We designed three stunning direct mail pieces, which were sent directly to hedge fund managers every other week of the campaign. The first included a bespoke web key that linked directly to the Thomson Reuters microsite and each included updates on the latest podcast episode available online.
Email Campaign – Six emails were developed to coordinate with the direct marketing material to drive traffic to the microsite and promote the latest Man v Machine podcast episode.
Programmatic Digital Banner Campaign – Used to target the hedge fund community through prospecting on relevant websites and retargeting thereafter.
Social Media – We developed relevant social media content for Twitter and LinkedIn to engage with the hedge fund community and generate interest in the latest podcast episodes, driving traffic directly to the microsite.
- Every element of the multi-channel marketing campaign, from direct mail to social media, was built to work together to increase product awareness and provide direct way to access the Man v Machine site.
- The entire podcast series was hosted by one of the client’s internal experts, positioning the company as a though-leader with access to leading professionals in the industry and on top of key issues impacting hedge fund managers.
- Direct mail pieces and email communications were alternated throughout the campaign to target different individuals at key times and maximise engagement with the website. They also provided a regular reminder of the new content available on the Man v Machine website. Each channel supported the other for maximum impact and awareness.
- A bespoke web key in the shape of a spool of thread was included in the initial mailer to further emphasise the “tailored” approach of the product and link recipients directly to Man v Machine microsite. Use of the web key was easily trackable.
- Social media content was successfully used as a teaser to entice hedge fund managers to check out episodes they might have missed the week before. It also made it easy for the target audience to share content with one another.
- Programmatic digital banner ads targeted members of the hedge fund community on relevant financial websites, helping to drive them directly to the Man v Machine microsite. Once the initial prospecting occurred, ads were retargeted to continue driving traffic to the microsite through return visits – a cost-effective way to maximise the minimal advertising budget.
- 81% increase in monthly website traffic throughout the campaign period.
- 9.5% click-through-rate from direct mail web keys and direct traffic to the microsite via URL.
- An above benchmark click-through-rate of 0.07% and a 7% average conversion rate for digital banner ads.
- 624,866 impressions on LinkedIn / 26,429 on Twitter.
- 349 unique plays and 187 unique downloads on podcasts.