Marketing implications of a digital world
Prosek Partners: Best PR & Communications Firm – Managing a brand and its reputation in a digital world, which moves at speed, means hedge funds are deploying a more sophisticated marketing approach. They’re having to consider the implications of an environment in which information is more transparent and where stakeholders respond in a different way.
“We’ve seen funds of all shapes and sizes double down on communications and marketing, as they realised they couldn’t get the job done without having these elements in place,” comments Jennifer Prosek (pictured), founder and managing partner of Prosek Partners. “This has focused the attention of many clients on why reputation is a bottom line asset.”
She notes there has been a subset of alternative managers who embraced sophisticated marketing strategies to help drive business objectives, particularly in a virtual world. Hit hard by the market volatility of 2020, these managers required help managing business critical issues like performance challenges, personnel changes, and portfolio company special situations.
Although the virtual shift has created new challenges for the industry, within Prosek it has been a positive driving force. “The firm has flourished in truly coming together. Our integrated model and transatlantic offering has always been a big differentiator, but Prosekians on both sides of the pond continue to say how much closer we’ve become, and this has been a real positive for our teams and our firm,” Prosek says.
Outlining firms which are set on a path to success, Prosek comments: “ESG and sustainability will continue to become business-critical and the hedge fund industry is not immune to the need to address D&I and build strategies that recruit, retain, and incentivise talent.
“Firms thinking about strategies and programmes that speak to their stakeholders, and brands which stand for something and build diverse organisations to attract investors and the next generation of leadership will be the future winners.”
Prosek Partners’ long-term strategy remains unchanged. The firm predicted the “emerging market of marketing” and built a business uniquely suited to serve it. Prosek details: “We’ll continue to adapt and refine our offering to make sure that we have the team, products and solutions that really distinguish our firm and answer our clients’ needs.
“We have a deep network in alternatives and are seeing increased interest in broader marketing, creative and digital strategies from these clients. We’ll continue to build this, as well as develop our special situations practice. Being able to deliver this on across borders is something that funds require more and more.”
Prosek predicts the hedge fund industry will continue to be a strong sector for the firm in the upcoming year. She adds: “However, firms will continue to need a great deal of help in the areas of fundraising, performance management, digital, ESG and D&I. The virtual world isn’t going away anytime soon, so building the right muscle to show up well on online platforms will be as key to doing business successfully as it is in person.”
Jennifer Prosek, Managing Partner, Prosek Partners
Jennifer Prosek is the founder and Managing Partner of Prosek Partners, a leading international public relations and financial communications consultancy with offices in New York, London, Boston, Los Angeles, and Connecticut. The firm ranks among the top financial communications consultancies in the US and UK. Prosek Partners was named among Forbes’ America’s Best PR Agencies in 2021, has been listed as an Inc. 5000 Fastest Growing Company for nine years running, and is ranked among the Top 25 firms in New York Observer’s PR Power List. Jennifer was also listed personally among Insider’s list of top financial communicators in the United States.