The third tip to maximizing your marketing and sales effort according to The Road to AUM: Driving Assets Under Management through Effective Marketing and Sales, is to manage costs! Institutional marketing Is a marathon, not a sprint. Spend wisely. Be frugal where you can and spend where it matters. Think about where the firm is in its current stage of development. What will work within the budget? What will match the firm’s culture? Determine what channels make the most sense and prioritize them. Share the game plan internally in writing, including the length of time the firm will be committed to it and what resources will be employed by channel. Be sure that the firm economics are In place to sustain the effort. Typically, a 24-36 month period should be anticipated for an effective Institutional sales effort.