Optimize Your Asset Management Marketing Performance and Increase Client Acquisition
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Optimize Your Asset Management Marketing Performance and Increase Client Acquisition
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The “Battle for the Investor” has increased in complexity and investments organizations are trying harder than ever to differentiate themselves. The “winners” right now are defining strategies that address the current trends, but maintain the standards and philosophies that they are based on. The investor is becoming more sophisticated due to increased financial press coverage and easy access to less expensive investment information. Is your organization attracting the right clients and meeting those expectations? Join this webinar to hear Joe Paone, Sr. Marketing Manager at Marketo and John Kariotis, President, AmberLeaf Partners, discuss the landscape and strategies for asset managers to succeed.
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Optimize Your Asset Management Marketing Performance and Increase Client Acquisition
- 1. How Asset Management Firms Can Optimize Marketing Performance and Increase Client Acquisition Joe Paone Sr. Manager, SMB Marketing Marketo John Kariotis Partner AmberLeaf Partners
- 2. • This webinar is being recorded! Slides and recording will be sent to you after the webinar concludes. • Have a question? Use the chat box and We’ll get to your questions after the webinar. • Posting to social? Use our hashtag - #mktgnation • There is a brief survey after the webinar Housekeeping
- 3. Meeting Agenda 1. 2. Industry Overview 3. 4. 5. 6. Current Challenges 3 Strategic Marketing Themes Marketing Operations and Marketing Technology Internal Shared Services vs. Outsourced Considerations and Decisions
- 4. 1. Your clients’ reality 2. Your challenge 3. The path forward State of Asset Management Today:
- 5. Asset Managers need to respond to growing client expectations or face the risk of losing them
- 6. $58 trillion in wealth is expected to move from one generation to the next 90% of heirs change advisors after wealth transfer Reference: Deloitte
- 7. Clients expect more personalized communications 25% of investors leave their asset managers after just 2-3 years Reference: PriceMetrix
- 8. Clients expect more digitally connected experiences 80% of under-40 investors indicated that they would leave their asset management firm if it fails to provide an integrated channel experience Reference: Capgemini
- 9. How do you be most relevant to them? How do you get clients to choose you and stay with you? How do you execute and measure this at scale? Your Challenge
- 10. Todays World 2900 Marketing & Sales Messages Per Day
- 11. Prospects are Self-Directing Journeys 66% to 90% of a Buyer’s Journey Today is Self-Directed (Forrester, 2014)
- 12. And Demand a Personalized Experience 87% of people demand a meaningful brand experience (Edelman Consulting, 2014)
- 13. DATA INFORMATION INSIGHT STRATEGY ACTION There are 3 Strategic Marketing Themes that Asset Management Companies are following today Cross Channel Analytics Enterprise Engagement Platform Provide insight into marketing interactions across all execution channels Provide both centralized and decentralized marketing engagement capabilities These capabilities allow marketing users to asses the end-to-end effectiveness of marketing activity that will enable improve decisions related to marketing spend These functions will distribute campaign creation, segmentation and execution down to front line users enabling them to manage personalized campaigns based on localized needs, as well as more effectively communicate at the corporate level Data Integration Align marketing activity and interaction information with Relationship Management sources These capabilities will provide integration between marketing technologies and the interactions that are tracked, and align them with Relationship Management systems to build a holistic view of a customers interactions
- 14. DATA INFORMATION INSIGHT STRATEGY ACTION However, there are two critical paths that factor into how an AMC’s executes a Marketing Strategy A M C Marketing Operations Marketing Technology Shared Services Distributed Service Engagement Platform Integrate Existing Tools Regarding Marketing Operations, consider the market trend in a Shared Service Model, or continue with the existing Distributed Service Model With regards to Marketing Technology, either to Integrate Existing Toolset today, or begin to migrate to a Engagement Platform that consolidates tools and processes Outsource In House Outsource In House AMC’s balance many factors in making the decision to stay with the current path, or consider migrating towards trends to improve Marketing Operations and Marketing Technology
- 15. DATA INFORMATION INSIGHT STRATEGY ACTION With Regards to Marketing Operations, We Recognize Several Trends with Asset Managers Distributed Service Shared Services Market TrendsCurrent Path • Execution of operations are consolidated and shared across divisions • Compliance and regulation oversight and review • Consolidated costs • Centralized marketing data management • Best practices shared across the company • Opportunity for cross-division marketing • Similar marketing activities are performed separately • Execution of operations are run individually • Overlap in Marketing Operations • Additional costs can be incurred related to duplicate operational activities, and software licenses • Decentralize marketing data is spread across business units
- 16. DATA INFORMATION INSIGHT STRATEGY ACTION Improve Existing Tools Enterprise Platform Market TrendsCurrent Path • Full suite engagement platform consolidating • Facilitate Closed Loop Marketing Tracking • Provides Lead Scoring and Nurturing • Insight into cross channel analytics • Social channel integration • Organizational economies of scale for savings • Automate marketing processes • Consolidated resource costs and training costs • Build enhancements in existing tools • Duplicate functionality across tools drive additional costs • Integration between applications to support desired capabilities must be built • Lack of functionality in current tool set must be augmented with additional tools and integrations • Need to incorporate Social distribution of content across platforms With Regards to Marketing Technology, A Few Trends Are Driving Asset Managers
- 17. DATA INFORMATION INSIGHT STRATEGY ACTION Traditional AMC Example of Marketing Operations Functions & Activities Strategy Analytics Reporting Campaign Management Manage Technology • Develop Marketing Strategy • Develop Campaign Briefs • Perform deep analysis on marketing trends • Manage and analyze marketing data • Coordinate with BU strategy resource • Develop operational reports • Coordinate with Data Analyst • Distributed Campaign Creation • Distributed Campaign Execution • Administer marketing technologies • Manage vendor relationships • VP of Marketing • Marketing Managers • Data Analyst • Report Developer • Wholesaler • Marketing IT Administrator ActivityResourcesFunction
- 18. DATA INFORMATION INSIGHT STRATEGY ACTION An Asset Manager as a Business Unit Example of an AMC’s Shared Service Functions & Activities Internal SharedService Asset Management BusinessUnit Strategy Analytics Reporting Campaign Management Manage Technology • Perform deep analysis on marketing trends • Manage and analyze marketing data • Coordinate with BU strategy resource • Create Campaign Collateral • Execute Campaign • Coordinate with BU strategy resources • Administer marketing technologies • Manage vendor relationships • Data Analyst • Campaign Administrator • Marketing IT Administrator ActivityResourcesFunctionTrend Strategy Analytics Reporting Campaign Management Manage Technology • Develop Marketing Strategy • Develop Campaign Briefs • Develop operational reports • Coordinate with Data Analyst • Distributed Campaign Creation • Distributed Campaign Execution • VP of Marketing • Marketing Managers • Report Developer • Wholesaler ActivityResourcesFunctionTrend
- 19. DATA INFORMATION INSIGHT STRATEGY ACTION An Asset Management Company’s Example of Outsourced Shared Service Functions & Activities Outsourced SharedService Asset Management Company Strategy Analytics Reporting Campaign Management Manage Technology • Perform deep analysis on marketing trends • Manage and analyze marketing data • Coordinate with BU strategy resource • Develop operational reports • Coordinate with Data Analyst • Create Campaign Collateral • Execute Campaign • Coordinate with BU strategy resources • Administer marketing technologies • Manage vendor relationships • Data Analyst • Report Developer • Campaign Administrator • Marketing IT Administrator ActivityResourcesFunctionTrend Strategy Analytics Reporting Campaign Management Manage Technology • Develop Marketing Strategy • Develop Campaign Briefs • Distributed Campaign Creation • Distributed Campaign Execution • VP of Marketing • Marketing Managers • Wholesaler ActivityResourcesFunctionTrend
- 20. DATA INFORMATION INSIGHT STRATEGY ACTION For Asset Managers who are considering investing in new Marketing Operation and Marketing Technology, decisions will need to be made for several different areas Considerations and Decisions That Must Be Addressed For Asset Managers Marketing Technology & Operations Funding Policies & Procedures Staffing Technology & Operations
- 21. DATA INFORMATION INSIGHT STRATEGY ACTION As Asset Managers consider improving Marketing Operations and investing in Marketing Technologies, the potential benefits span across resource savings, software consolidation and efficiencies Asset Management Marketing Operations Recognized Benefits Marketing Driver Benefit Consolidating resources saves costs • Reduce duplicate processes • Minimize handoffs between each group • Eliminate errors • Smooth any peaks and valleys in demand • Campaign time to market should shrink, in general, by 20-30% Consolidating capabilities across software platforms • Save on licensing and software fees • Reduce data integration • Minimize training and on boarding • There will be better, more standard, marketing performance metrics and reporting • Improved campaign effectiveness
- 22. Marketo Engagement Platform ENGAGEMENT MARKETING APPS ENGAGEMENT MARKETING HUB AUTOMATION ADAPTIVE ANALYTICS CUSTOMER PROFILES APIsCRM EMAIL MARKETO APPS PARTNER APPS WEB ADS MOBILE SOCIAL CAMPAIGNS PREDICTIVE CONTENT ABM SALES INTEL PLANNING EVENTS REPORTING OTHER DATA SOURCES LEARN LISTEN ENGAGE
- 23. • Automatically segment your prospects and clients based on demographics and behaviors • Engage your prospects and clients throughout all market conditions with personalized and automated communications across all channels throughout their lifecycle • Create a single view of your clients and prospects • Prioritize sales/wholesaler follow-up through lead scoring • Measure and track marketing campaign effectiveness and prove ROI • Get the right message to the right investor at the right time How Can the Marketo Engagement Platform Help?
- 24. Extensible Enterprise Platform 4600+ Customers across 41 Countries Asset Management Track Record & Expertise Top Rated Marketing Automation Marketo for Asset Management
Notas do Editor
- Hello everyone, welcome to today’s webinar… AmberLeaf is a Customer Experience Management and Business Intelligence full service-consulting firm. They specialize in providing solutions across strategy, process, technology and change management services focusing on ways companies manage relationships with their customers. Providing blended operational and analytical solutions, AmberLeaf leverages functional expertise to help firms become fact-based decision making organizations. John is a partner with AmberLeaf responsible for running the customer experience practice, where he works closely with clients (in particular financial services firms) to develop the strategies, processes and deploy the right technology solutions for the ways that they market, sell and service their customers. Now before we begin, we have a couple of housekeeping items.
- And with that let’s get going!
- When looking at the state of the asset management industry today, from a client acquisition or retention standpoint, there are 3 primary things to consider. 1 is Your Clients’ reality 2 is your challenge to meet that reality And 3 is how can you create a path forward to bridge the gap between your clients’ expectations and your ability to execute on those expectations.
- In the old days, cold calls, referrals and office visits may have be adequate for acquiring new clients And on the retention side: it may have only taken quarterly or yearly check-ins which could be done by either an office visit or on the phone to keep clients’ happy. Why is there an increase in risk now, because clients are expecting more and there is a lot of money in motion. Asset managers need to respond to gorwing client expectations or face the risk of losing them.
- To illustrate that, we are on the precipice of an upcoming $58 Trillion dollar wealth transfer from one generation to the next where 90% of heirs will change advisors after wards.
- And in addition, Clients are now expecting more personalized communications than ever before. In fact, 25% of investors leave their asset managers after just 2 – 3 years And according to a Survey of 1,375 advisors conducted by FA Magazine* the #1 Reason for this was: Failure to communicate on a timely basis
- Put that together with the fact that 80% of under-40 investors indicated they would leave their asset management firm if it fails to provide an integrated channel experience and it’s easy to see why it’s more important than ever to provide clients with a digitally connected, holistic, experience.
- Your challenge is rather large. First, How do you get clients to choose you or your firm and stay with you? Second, how do you be most relevant to them? And finally, how do you execute and measure this at scale?
- Especially when It’s a noisy world out there.. Investors are being bombarded by more than 2900 messages per day.
- But this noise has also created a world of information abundance – meaning clients and prospects are more empowered than ever before. And armed with this info, they are forming opinions and drawing conclusions well before they choose to interact with your firm. In fact if you look at some data points, from folks like Forrester, they say that anywhere from 66-90% of a buyers journey is self-directed before they interact with you.
- And when these potential clients do decide to interact with you, at every stage of interaction, 87% percent of them demand a meaningful, contextual, and relevant experience. With that, I am going to pass it on to John to talk more about the 3 strategic marketing themes that asset management firms are following today and how leveraging them can help you with some of these challenges we just discussed. John, take it away.
- I’ll end the presentation with a very high level overview on what the Marketo Engagement platform is It is that UNIFIED platform you can use to keep your finger on the pulse of your prospects and clients, power personalized and authentic conversations at scale, and build lasting relationships. It’s reliable, secure and SCALES to meet the demands of the largest global enterprises. And it’s built from the ground up to be OPEN , so it fits in your existing technology systems and gives you complete freedom with your data. Our Engagement Marketing Hub is the foundation of our platform, which captures everything you learn about your prospects and clients across channels and touchpoints. An Automation engine allows you to trigger simple or complex campaigns in real time and can automatically REACT to what you’re hearing or ANTICIPATE the best response to your prospects or clients in the moment they’re engaged with you. Our Adaptive engine takes anticipation to the next level by using artificial intelligence to recommend the best content for each individual. Finally, our Analytics engine gives you a broad array of business impact & journey metrics for your campaigns and channels, leveraging the consolidated data in our Engagement Hub.
- ©2006 Marketo, Inc. CONFIDENTIAL