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Realizing the dream of advisor-generated content

By Anu

Blogs? Wikis? Uploaded video? In a relatively short amount of time, we've seen myriad technologies that enable Web site users to syndicate opinions and information. Our clients often ask about these Web 2.0 technologies. A common question: "Is implementing these technologies worth the expense, for a potentially small user base?"

A recent McKinsey report says yes. And I agree. The author found that 75 percent of uploaded content came from 3 to 6 percent of the membership. Then, just 2 percent of the total uploaded content accounted for more than half of all pages viewed (serious long-tail).

Why is implementing these technologies worth the expense for so few people? Because this set of advisors wants to share opinions and ideas -- for free. Your customers want to talk about the business -- they are giving your firm free feedback. In most industries, market research firms offer $5, $10, or $100 to customers for standard questionnaire feedback.

The key is to do it correctly:

• Don't contact advisors based on user-generated content


• Don't take no from compliance -- partner to devise a permissible implementation (for instance, user-generated content with no interference from within the firm is not a solicitation or advertisement of any fund)


• Ensure the interface is simple


• Viral market -- wholesalers can mention the vanity URL (e.g. www.fundco.com/blog) during meetings.