MARKETING CHALLENGE: Commit to quit
What habit is as old as time itself? It has to be making all kinds of 'do-better' resolutions at the beginning of the year, only to see them falter before the birds start building their nests each spring.
NBC News ran an article online in January discussing this annual phenomenon, 2017 New Year's Resolutions: The Most Popular and How To Stick to Them: "Research shows that only about 8% of people actually achieve their New Year's goals," said Dr. John Agwunobi, chief health and nutrition officer for Herbalife. "After the holiday tradition of over-indulgence, we set out to rid our cabinets of junk food, hit the gym and start fresh, but some people tackle the problem too aggressively, with overly restrictive diets, or exercise regimes that they can't commit to, and soon give up their efforts."
Walk the walk, don't just talk the talk
Saving more, spending less, investing smarter all tend to find their way onto most people's lists year after year, proving that it's far easier to make a resolution than it is to keep one. Whether it involves food or finances, people tend to revert to their mean and do the same thing over and over. According to Statisticbrain.com, the top resolutions people "committed" to for 2017 are: losing weight/healthier eating (21.4%), a general catch-all category of "other" (13.8%), life/self improvements (12.3%), and better financial decisions (8.5%).
If we define 'making better financial decisions' more narrowly, resetting alternative assets objectivesmay lead to a stronger long-term commitment to investment plan health. For money managers trying to raise assets, this process can help connect more successfully with investors by addressing their investment issues meaningfully.
Chart your course
Typically by March, people have already given up on their New Year's resolutions to do better, but if you pla......................
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