Author: Anu Heda

iPad – a sales game changer

Mike and I are skeptics naturally.  And we’ll be the first to wonder just how important is Apple’s iPad to sales and marketing practices within the industry.  So while I’d love to remain skeptical about the iPad’s use in business, I’ve come around to agree that – used appropriately – the iPad can be a game changer for sales forces throughout the industry.

Many people have already said this; they usually mention the iPad’s robust e-mail capabilities or CRM access.

I think the game changer functionality is more subtle, closer to etiquette.  Think of this situation.

Most likely the sales person isn’t going to pull out his laptop, boot it up, log in, plug in a USB networking device, access the Web, find the data, and then turn the laptop to face the prospect. By this point, the prospective client has finished his sandwich.

Also, it’s unlikely that the sales person’s BlackBerry is fast enough to access the data quickly or big enough to keep the sales person from squinting.

Most likely, the sales person will fumble through a dossier to find something printed that approximates proving the point.  In this case, the sandwich may get finished and the printed material may not be exactly right.

The iPad’s instant-readiness (powering on and connecting to the network) married with the resolution give the iPad “game changer” potential. The sales person could pull it out, immediately turn it sideways for both people to see and navigate to the exact data.  In this case, the conversation continues.

For the right sales person, the iPad can complement a sales process in a way that other technologies can not.

Designing a Market Research Plan

Often, we’re asked about market research.  The research idea is usually tied to an initiative that brings something new to a firm’s clients.  That initiative can be a new investment vehicle, marketing message, Web site, or something else.

I sat down with a career researcher recently to share perspectives on the best and worst client engagements.  Though her experience is exclusively with consumer products and ours is traditionally with intermediaries, we agreed wholeheartedly on three dimensions to great research:  … [read more]

Making The Most From Capital Introduction

Last week, I met with Sales executives at 6 different prime brokers.  Among the numerous topics we discussed (reporting, securities lending, etc.), capital introduction process was at the forefront.

The cap intro teams do not have the skill set and/or resources to revamp and improve each hedge fund’s presentation.  Here are two topics for hedge funds to consider:

• Improve the pitch book.  We’ve written about that here.  Additionally most capital introduction folks will offer a dozens of ideas during a 20-30 minute conversation.  We recommend using that conversation time to take notes and apply the most relevant ideas to your materials.
• Learn by example.  Most prime brokers have an inventory of hedge fund materials.  While they may not share those materials, ask for examples from successful hedge funds.  A good question would be to inquire about funds with similar strategies and similar target markets.  For instance, “In your experience, what are the most crucial selling points to make when selling an event-driven strategy to family offices?”

Most materials benefit from numerous rounds of revision.  These two tips enable hedge funds to begin at a better point than staring at an empty PowerPoint document after-hours.