“A big part of innovation is saying, ‘You know what I’m really sick of?’”
It would be reasonable to assume that this quote came from some tech luminary such as Jeff Bezos, Elon Musk, or Sheryl Sandberg.
The actual source? Jerry Seinfeld.
The iconic comedian was recently interviewed by the Harvard Business Review, with whom he discussed the motivations behind his eponymous sitcom and recent online talk show, Comedians in Cars Getting Coffee. He elaborates on the impetus for the latter:
“For me, [what I was sick of] was talk shows where music plays, somebody walks out to a desk, shakes hands with the host, and sits down. “How are you?” “You look great.” I’m also sick of people who are really there to sell their show or product. ‘What am I really sick of?’ is where innovation begins.”
Of course, this idea has broader application than sitcoms.Harvest is a reflection of what investment managers are sick of as it relates to their marketing and distribution efforts. Namely, “I’m sick of not knowing if this topic is resonating with our audience” or “I’m sick of wasting half of our marketing budget but not knowing which half.”
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The underpinning of innovation for marketing and client engagement is the application of data. This is well understood by Amazon and Netflix, but remains elusive for most investment managers not named BlackRock or Morgan Stanley. However, with margin compression and shifting value chains reshaping financial services, it’s imperative to be asking yourself what you’re sick of.
Your economic viability is at stake.
Our next webinar, “What Does a Data-Driven Campaign Look Like?”, will share how data can be used to improve relationships with prospects and clients. We will provide a blueprint that will help you scale your message to your audience, tailor your engagement, and more effectively measure ROI.
Key topics include:
- Identifying the macro trends that necessitate a data-driven approach
- Applying data to each aspect of a campaign: develop, distribute, measure, learn
- Connecting marketing and sales to facilitate client acquisition