How to market funds

Correctly handling two relationships in fund marketing Open-end fund marketing is to publicize the investment concept of fund management companies, show the performance of fund management companies and introduce the knowledge of fund operation mechanism, aiming at arousing the desire of market to subscribe for funds, gaining the trust of market funds and cultivating the loyalty of fund holders. This is the difference between open-end funds and closed-end funds, and it is also the challenge faced by open-end funds. The goal of successful marketing of open-end funds is that fund holders can become loyal customers of fund management companies, not only share the operating results of fund management companies, but also understand the temporary operating difficulties of fund management companies and ensure the stability of fund scale. At present, the marketing of open-end funds should deal with the following two relations: product marketing and relationship marketing. Product marketing is based on the marketing of fund products themselves, and the brand and marketing strategy of fund management companies are established through market education. The fund industry is a highly intelligent industry, including not only the asset management wisdom of fund management companies, but also the marketing wisdom in the market. Relationship marketing refers to the marketing method of extending personal relationships, which often relies on the interpersonal relationships formed by the company in the past or the social relationships of the salesmen's relatives and friends, and takes insurance companies as the target customers. From the development history of the World Fund and the direction of fund industry industrialization in China, product marketing is the inevitable choice of fund industry marketing, and relationship marketing can only be tactical and a supplement to product marketing. Relationship marketing can achieve the purpose of raising funds in a short time, but the maintenance cost of this part of marketing is relatively high and the stability is poor. The huge redemption after the fund is issued is an example. At present, fund management companies attach importance to relationship marketing and despise product marketing. Even in the selection of marketing personnel, they tend to choose employees with certain social background. The development of American mutual funds has certain enlightenment to the marketing of open-end funds in China. At the end of 2002, about 94.9 million individual investors held * * * mutual funds, and the proportion of * * mutual funds in American household financial assets increased from 5.7% in 1980 to 52% in 2006. However, the registered customers of all open-end funds in China are less than 2 million, which not only shows the difficulty of fund marketing at present, but also shows the huge space for future development. In China, open-end fund is a highly specialized investment tool, which is being recognized by investors. In this process, the guidance and education of fund management companies are needed. Without market cultivation, it will not be recognized by the market. By introducing the fund's relevant knowledge, advanced investment concept and the development history of China and the world capital market, investors should understand the following reasons: 1, China's capital market has bid farewell to the era of profiteering and speculation, and will soon enter the era of healthy investment; 2. Institutional investors are the stabilizers of the securities market, and developing institutional investors is our current policy choice; 3. It is the general trend to choose securities investment funds, and it is inevitable that the securities market will change from capital game to institutional game. 4. Securities investment fund is an ideal personal financial management tool with high rate of return. However, individual investors have inherent disadvantages in collecting information, grasping the market and financial strength, and their self-protection ability is insufficient, which determines that their investment results must be not worth the candle, which has been proved by years of practice; The traditional conservative concept of "believe in yourself instead of others" should be changed. These principles are the basis for the fund to carry out product marketing. At the same time, with the maturity of the market, the product marketing strategy should be constantly upgraded, from popularization to specialization. The main distribution channels of open-end funds in China are commercial banks and securities companies. However, direct selling projects are often concentrated in insurance companies, financial companies and other institutions, and some companies even exceed direct sales, which is different from the situation in mature markets. Statistics show that in Hong Kong, 92% of the fund products are sold on a commission basis, mainly through banks, securities companies, insurance companies, investment consultants and other channels, and only 8% are directly sold. Singapore's fund sales are also dominated by banks, while Germany's open-end fund sales and redemption are all handled by commercial banks. At present, it is not a market-oriented behavior for commercial banks to sell open-end funds on a commission basis. Usually, the fund management company and the head office of the agency bank negotiate on behalf of the sales volume, and then the head office of the commercial bank decomposes the sales volume to branches at all levels. Branches generally have no incentive to overfulfil and complete the assigned consignment tasks, which is contrary to the market-oriented nature of open-end fund products. It is a common task for banks and fund management companies to improve the marketization degree and efficiency of open-end funds sold by commercial banks. With the maturity and standardization of the fund market and the acceleration of the direct entry of insurance funds into the market, the proportion of direct sales to large institutions such as insurance companies will gradually decrease, while the proportion of individual investors subscribing for open-end funds will increase simultaneously. On the one hand, this is the result of fund management companies cultivating the market, on the other hand, it is a revision of the idea that fund management companies rely on institutional investors to expand their scale, which is an inevitable return of the fund concept. The advantage of commercial banks selling open-end funds on a commission basis lies in the information of customers' resources and funds owned by banks, which is incomparable to fund management companies. The core of fund management companies' customer marketing, management and after-sales service mechanism of commercial banks is to publicize the products and investment ideas of fund management companies. By cultivating the market, tapping the bank's customer resources, analyzing customer information and capital information, we can find and cultivate potential fund holders, attract customer funds, expand fund shares, and provide fund management companies with decision support such as product design, marketing planning and customer management system construction. Interest-driven is often the fundamental driving force of market competition. How to design a new profit distribution model for commercial banks to sell open-end funds on a commission basis, establish a double-profit pattern for commission agencies and fund management companies, and improve the enthusiasm and marketization of commercial banks to sell open-end funds on a commission basis is a problem that fund management companies have to reconsider. A good open-end fund sales incentive mechanism needs to fully consider the interests of grass-roots institutions and account managers. I believe that once this mechanism is established, the enthusiasm and ability of commercial banks, especially grass-roots banks, to sell open-end funds will be greatly released. Open-end fund marketing is to publicize the investment concept of fund management companies, show the performance of fund management companies and introduce the knowledge of fund operation mechanism, aiming at arousing the market's desire to subscribe for funds, gaining the trust of market funds and cultivating the loyalty of fund holders. This is the difference between open-end funds and closed-end funds, and it is also the challenge faced by open-end funds. The goal of successful marketing of open-end funds is that fund holders can become loyal customers of fund management companies, not only share the operating results of fund management companies, but also understand the temporary operating difficulties of fund management companies and ensure the stability of fund scale. At present, the marketing of open-end funds should deal with the following two relations: product marketing and relationship marketing. Product marketing is based on the marketing of fund products themselves, and the brand and marketing strategy of fund management companies are established through market education. The fund industry is a highly intelligent industry, including not only the asset management wisdom of fund management companies, but also the marketing wisdom in the market. Relationship marketing refers to the marketing method of extending personal relationships, which often relies on the interpersonal relationships formed by the company in the past or the social relationships of the salesmen's relatives and friends, and takes insurance companies as the target customers. From the development history of the World Fund and the direction of fund industry industrialization in China, product marketing is the inevitable choice of fund industry marketing, and relationship marketing can only be tactical and a supplement to product marketing. Relationship marketing can achieve the purpose of raising funds in a short time, but the maintenance cost of this part of marketing is relatively high and the stability is poor. The huge redemption after the fund is issued is an example. At present, fund management companies attach importance to relationship marketing and despise product marketing. Even in the selection of marketing personnel, they tend to choose employees with certain social background. The development of American mutual funds has certain enlightenment to the marketing of open-end funds in China. At the end of 2002, about 94.9 million individual investors held * * * mutual funds, and the proportion of * * mutual funds in American household financial assets increased from 5.7% in 1980 to 52% in 2006. However, the registered customers of all open-end funds in China are less than 2 million, which not only shows the difficulty of fund marketing at present, but also shows the huge space for future development. In China, open-end fund is a highly specialized investment tool, which is being recognized by investors. In this process, the guidance and education of fund management companies are needed. Without market cultivation, it will not be recognized by the market. By introducing the fund's relevant knowledge, advanced investment concept and the development history of China and the world capital market, investors should understand the following reasons: 1, China's capital market has bid farewell to the era of profiteering and speculation, and will soon enter the era of healthy investment; 2. Institutional investors are the stabilizers of the securities market, and developing institutional investors is our current policy choice; 3. It is the general trend to choose securities investment funds, and it is inevitable that the securities market will change from capital game to institutional game. 4. Securities investment fund is an ideal personal financial management tool with high rate of return. However, individual investors have inherent disadvantages in collecting information, grasping the market and financial strength, and their self-protection ability is insufficient, which determines that their investment results must be not worth the candle, which has been proved by years of practice; The traditional conservative concept of "believe in yourself instead of others" should be changed. These principles are the basis for the fund to carry out product marketing. At the same time, with the maturity of the market, the product marketing strategy should be constantly upgraded, from popularization to specialization. The main distribution channels of open-end funds in China are commercial banks and securities companies. However, direct selling projects are often concentrated in insurance companies, financial companies and other institutions, and some companies even exceed direct sales, which is different from the situation in mature markets. Statistics show that in Hong Kong, 92% of the fund products are sold on a commission basis, mainly through banks, securities companies, insurance companies, investment consultants and other channels, and only 8% are directly sold. Singapore's fund sales are also dominated by banks, while Germany's open-end fund sales and redemption are all handled by commercial banks. At present, it is not a market-oriented behavior for commercial banks to sell open-end funds on a commission basis. Usually, the fund management company and the head office of the agency bank negotiate on behalf of the sales volume, and then the head office of the commercial bank decomposes the sales volume to branches at all levels. Branches generally have no incentive to overfulfil and complete the assigned consignment tasks, which is contrary to the market-oriented nature of open-end fund products. It is a common task for banks and fund management companies to improve the marketization degree and efficiency of open-end funds sold by commercial banks. With the maturity and standardization of the fund market and the acceleration of the direct entry of insurance funds into the market, the proportion of direct sales to large institutions such as insurance companies will gradually decrease, while the proportion of individual investors subscribing for open-end funds will increase simultaneously. On the one hand, this is the result of fund management companies cultivating the market, on the other hand, it is a revision of the idea that fund management companies rely on institutional investors to expand their scale, which is an inevitable return of the fund concept. The advantage of commercial banks selling open-end funds on a commission basis lies in the information of customers' resources and funds owned by banks, which is incomparable to fund management companies. The core of fund management companies' customer marketing, management and after-sales service mechanism of commercial banks is to publicize the products and investment ideas of fund management companies. By cultivating the market, tapping the bank's customer resources, analyzing customer information and capital information, we can find and cultivate potential fund holders, attract customer funds, expand fund shares, and provide fund management companies with decision support such as product design, marketing planning and customer management system construction. Interest-driven is often the fundamental driving force of market competition. How to design a new profit distribution model for commercial banks to sell open-end funds on a commission basis, establish a double-profit pattern for commission agencies and fund management companies, and improve the enthusiasm and marketization of commercial banks to sell open-end funds on a commission basis is a problem that fund management companies have to reconsider.