good one. at the very least, it's commoditizing itself - every firm that keeps raising its AUM to keep up with the joneses (not to mention fee incentives) is basically saying "we can't compete on anything but deal terms"
actually let me edit this: there are some people shipping strategies/playbooks that are well-matched with a particular AUM. the fast-followers are self-commoditizing.
In startup world, S&M is generally 2/3 Sales and 1/3 marketing spend. Then within that 1/3 marketing, depending on the stage you are in, it’s roughly 1/2 people costs and 1/2 marketing program spend. This skews more towards programs (non labor costs) as you get larger. So now we are down to 1/6 of S&M on marketing programs. Then within marketing programs usually 15% to 40% is on paid web advertising. So at most I’m thinking google and Facebook ads could be 6% to 7% of total S&M.
good one. at the very least, it's commoditizing itself - every firm that keeps raising its AUM to keep up with the joneses (not to mention fee incentives) is basically saying "we can't compete on anything but deal terms"
actually let me edit this: there are some people shipping strategies/playbooks that are well-matched with a particular AUM. the fast-followers are self-commoditizing.
In startup world, S&M is generally 2/3 Sales and 1/3 marketing spend. Then within that 1/3 marketing, depending on the stage you are in, it’s roughly 1/2 people costs and 1/2 marketing program spend. This skews more towards programs (non labor costs) as you get larger. So now we are down to 1/6 of S&M on marketing programs. Then within marketing programs usually 15% to 40% is on paid web advertising. So at most I’m thinking google and Facebook ads could be 6% to 7% of total S&M.