Marketing within compliance isn’t a Mission Impossible

Marketing within compliance isn’t a Mission Impossible

Marketing products and services in regulated or heavily legislated markets comes with unique challenges and complexities. To many, creating a buzz and being creative in such circumstances is mission impossible. But this week’s guest on Unicorny says that marketing and compliance regimes are not incompatible. In fact, he thinks quite the opposite.

Simon Hildrey is CMO of Liontrust Asset Management PLC. In the role that now has the shortest tenure of any in the C-suite, the CMO, he has been in position for 14 years. So, Simon knows a thing or two about marketing in regulated markets. He joined anchor, Dom Hawes and expert co-host, Greentarget’s Jeff Watt to discuss ‘solving the regulatory riddle’ for marketers.

In the podcast, Simon makes the case that many overcomplicate communicating and keeping things simple and honest is the best way forwards. He says: “I think the way that you talk about product, the way you talk about investment, the way you promote it should be in the right way anyway.”

“It should be simple to understand, be accessible and we shouldn't be promoting things that aren't true. We've got a very good compliance department that we work very closely with but as marketers we should be aware of that anyway and there shouldn't be an issue that then compliance picks up - that means we're not succeeding.”

Building a buzz when there’s no tangible product 

Strategy plays a pivotal role in shaping a company's brand identity and Simon's background taught him the importance of strategic thinking and adaptability. He says Liontrust’s long-term vision allows them to create strong, distinguishable brands even within the complexities of a regulated environment.

“The key thing about brand is it's not just about imagery,” he says. “I think a lot of people think of brand as the design. But it's everything you do, including the words, and as a former journalist, I really care about the words and the tone. And everybody at Liontrust is part of the brand.

“It is a challenge to stand out. We’ve gone down the distinctiveness route. There are lots of brands that are distinguished [or distinctive] and I think there are probably lots of brands that don’t stand out. There’s research that shows this isn’t just my view.”

So, Simon works closely with compliance, and navigates regulations but focuses on being distinctive to create stand out in the market. To do that, he and his team consider quite left field ways of achieving Liontrust’s goals.

Match made in heaven – making sport sponsorship work

Talking of goals, in the podcast, he also shares an extraordinary story and a good example of left field thinking, about how Liontrust came to be on the back of Oxford United FC’s team shirts.

Simon talks with great animation and passion about his experience working with Oxford United Football Club. The partnership was successful in part because of the engagement Liontrust achieved the fans. Simon’s team focused on getting original and exclusive content to create a long-lasting impact... but by his own admission, they had a bit of luck too.

Simon explains: “... and we really engaged with the fans. I think because we are football fans, we understand what football fans want. We worked with Oxford on the community and it's where we started developing some of our ideas for community engagement. And that's a really a key part of any sponsorship.”

“I was keen for a three year deal, because I knew it would take a year to really understand it, try things, and I didn't want a short term deal. So, we did three years and it was really successful. 

“Oxford is obviously a global city and it's amazing how often that team shirt appears on social media, and you have football computer games, and if you're on that shirt, you have a global audience. 

“When Oxford beat Swansea, we were on the national news. The number of people that knew Liontrust and then saw it on the shirts – it’s all about reinforcement as well.”

Liontrust’s latest project is sponsoring an emerging talent centre for girls and women footballers with Blackpool Football Club.

“It’s a pathway towards the Lionesses.” He adds. “Rather than sponsor a team, we thought about combining football with giving opportunities to people.”

Weathering the storm
Simon explains that Liontrust has to keep abreast of world events because of the direct impact on the financial sector and his customers. But he cautions against changing course in stormy weather.

“We've seen predictions that sometimes don't come true, and I think our job is to help people and to navigate it. Some people say, ‘what's your calendar for the next twelve months in terms of content promotions?’ That’s one area where you can't plan too far in advance. It's important to be flexible [if you want your content to resonate].         

“But it’s also really important to have a structure and a plan because we don't know what's going to happen to the economy, but we can have educated guesses. And I think we must be nimble enough and flexible enough to achieve.”

To hear the full podcast on your favourite podcast channel, search for Unicorny.

About Simon Hildrey

Simon Hildrey has been in the senior marketing team at Liontrust for nearly 15 years. He made the leap from financial journalism in July 2008. Prior to becoming a freelance journalist in 2002, Simon was Special Correspondent at Citywire and editor of International Financial Adviser. Simon is Chair of the IA’s Investor Communications Working Group, has a BA degree in Modern History and Economics from Manchester University, and an MA degree in War Studies from King’s College London. This latter qualification and his previous career in multi-media journalism help him think more strategically and utilise his digital storytelling skills.