MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, July 16, 2002 Fido Tacking in Ad Strategy Fidelity Investments plans to get more aggressive in promoting itself. The change in profile will include more portfolio manager media interviews and a change in the focus of the firm's advertising campaign, reports InvestmentNews. The publication based its report on an interview with Robert Reynolds, vice chairman. Reynolds is quoted as saying that the Boston Behemoth has "probably been a little too introverted as a company in telling our story." He added that though the firm is well known as a manager of domestic equities, it is less well known as a fixed income or international manager. Look for the firm to create ads promoting those strengths. Rather than promote individual funds, Fidelity will highlight investment themes in future ad campaigns, reports the publication. Ironically, the current investment-focused campaign was a refocusing from a softer campaign four years ago featuring comedians such as Lily Tomlin and Don Rickles as well as Peter Lynch. That campaign was blamed for Fidelity losing market share to more aggressive rivals as the market soared through 2000. In response, the firm went back to promoting funds and dropped Lynch as its spokesperson in its advertisements. While Fidelity's promotions are expected to focus on its investment management business, it is really the firm's technological and administrative capabilities that are winning it customers. The majority of the firm's fund assets derive from its institutional efforts, primarily in the 401(k) plan area. In that market Fidelity has won and retained clients by leveraging its client base (the largest in the industry) to invest in state-of-the-art systems and service. Few corporations in its market drop Fidelity once they have tasted its product. Printed from: MFWire.com/story.asp?s=3103 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |