Ten years ago, private equity firms didn’t care much for marketing because they were used to deals coming to them. They would only check to see if they prevailed in the auction process. Most private equities were even elusive, intentionally holding out contact information during press releases of closed deals.
The tides have changed, and private equities now scramble to differentiate themselves. This gave birth to business development professionals for private equities. They banked on capital and operations to source and close deals in the past. Now, at the urging of most business development professionals, they need to get creative and differentiate themselves through marketing. According to these professionals, firms that have invested in digital marketing are likely to set themselves apart from other private equities. While most firms have accepted the current trend, many still fail to get the most out of their marketing strategies.
It’s not just about traditional marketing, which is usually bland, obvious, sales marketing campaigns. According to The Hinterland Group Founder and Director for Strategy, Chase Sabina, the thing that truly sells is authenticity. For him, it’s all about telling relatable, authentic stories.
As a seasoned brand photographer and marketing consultant, Sabina has observed that convincing consumers to go for a specific product isn’t that different from marketing another product. People are inclined to go for brands they can identify with themselves.
“I’ve found that brands sell products when the end-consumer can envision themselves living that lifestyle,” says Sabina. The same principle can be applied to private equities and how they should market themselves to source and close deals.