Game over! I’ve seen the future of the hedge fund conference and it was in Philadelphia and it is going to be in Chicago in July and San Francisco in August, because ladies and gentlemen, boys and girls the future of Hedge Fund Conferences are intimate, fun, get‑togethers where people can exchange ideas, talk about issues, get meaningful and pertinent information, learn from each other and network. The future of the hedge fund conference is in an environment that’s not full of salespeople, not full of booths that offer useless tchotchkes and marketing material that gets pitched in the bin. But, a place where ideas on issues of interest to attendees are exchanged, people communicate; things happen and most importantly get done!
HedgeAnswers was in Philadelphia on Wednesday and it was great. The feedback was positive from both presenters and participants (and press coverage) and frankly, the crowd was crying out for more. Well, more they will get — as we bring this traveling band of hedge fund minstrels to Chicago and San Francisco later this summer. It’s was a great event and I hope you can make the next two.
OK – enough of the sales pitch for HedgeAnswers. People read this blog for substance, insight and practical information to make their hedge fund IQ’s rise. Unfortunately, because it is quite nice outside, I am going to be short in text but not on substance today; therefore, I need to talk about shoes, hedge fund shoes that is. Flip through the pages of the Wall Street Journal and Businessweek and you will see it; –Kenneth Cole and Allen Edmonds are marketing hedge fund shoes. This is scary folks. I am nervous, I am worried and frankly I am alarmed that this is happening. Not because, I believe it is bad. I actually think it is funny. I am worried because I believe that the marketing people at these two respected shoe companies have really gotten it wrong. They have not done their marketing due diligence on the industry and its participants. Does anyone believe that hedge fund managers are wearing these types of shoes? The rallying cry from hedge fund managers is give me Gucci or give me death! In a short, unscientific poll, I determined that bankers and the interns are wearing Allen Edmonds and Kenneth Cole respectively. It is a pricing thing and not the “experts” simply pulling their marketing triggers on their desk.
Therefore the big lesson for the all marketers out there; know your market! When it comes to raising assets for your fund this is key. You need to understand what your potential investors want and give it to them. Marketing is a combination of skill, luck and science; together the three will each count significantly as to how assets flow into your fund and therefore you need to pay each of them respect. In short, make sure you know your customers, give them information they need to make a decision and don’t think that just because you have built it someone will come.
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