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Digital Client Engagement in Asset and Wealth Management Companies

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Learn how asset and wealth marketers can make the best use of digital to improve their marketing effectiveness.

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Digital Client Engagement in Asset and Wealth Management Companies

  1. 1. 0 edynamic, Thursday, May 12, 2016 Digital Client Engagement in Asset & Wealth Management Companies
  2. 2. 1 edynamic, Thursday, May 12, 2016 Discussion Points today • The Challenge • What is required to confront this challenge ? • How shouldAM/WM marketers approach digital? • Examples
  3. 3. 2 edynamic, Thursday, May 12, 2016 2 Post Financial Crisis (2008)
  4. 4. 3 TheRosyPicture Source: PwC report- Asset Management 2020
  5. 5. 4 “Indeed, even with the recovery since the crisis, asset managers are uneasy” (source:OliverWyman) “Revenues in 2013 were only 2% higher than that of 2007, while their costs were 6% higher for the same period.” (source:BCGglobalassetmanagementbenchmarking study) The Flip Side
  6. 6. 5 Reasons for “The Flip Side” • Regulatory changes “50%increaseindustry-wideinrisk,legalandcompliancecosts between2007and2014” (source:McKinsey) • Shift in investor preference “Oncebitten,twiceshy” • Non-traditional competition Robo-advisors,Alternatives “By2020,alternativescouldcomprise15%ofglobalindustryassets, andproduceupto40%ofindustryrevenues” (source:McKinsey)
  7. 7. 6 OpinionPoll: HowsatisfiedareyouwithyourMarketing&Salesinnovations ? 1. ExtremelyHappy 2. Happy 3. JustSatisfied 4. NotSatisfied
  8. 8. 7 “40%ofthetopassetmanagersarenotactivelyinvolvedinsocial mediaandonly15%ofassetmanagersactiveonsocialmediaare interactive;andmorethanaquarterofassetmanagersarenotsure whethertheuseofmobiletechnologyfordistributionor communicationwouldplayacriticalrole” (source:PwC) The Challenge Lack of Innovation within Marketing & Sales
  9. 9. 8 edynamic, Thursday, May 12, 2016 8 What to do ?
  10. 10. 9 Innovation across Customer touch-points
  11. 11. 10 Customer Loyalty Management “Aloyal, affluentcustomer isworthnearlythreeanda halftimesmorethanan averageone” Source:Bain
  12. 12. 11 edynamic, Thursday, May 12, 2016 11 How ?
  13. 13. 12 edynamic, Thursday, May 12, 2016 The Roadmap Strategy & Planning UI, UX Design Content Management Marketing Automation Manage Search Engine Growth & Change Management
  14. 14. 13 1. Strategy & Planning Timespentinstrategyandplanning isawell-deserved investment.Anycornercuttingatthisstagemayprove disastrous QuestionsrelatedtoBusinessobjectives  KPIs,Timelines,negativeimpact,alignmentwithvision,costbenefitanalysisetc. Questionsrelatedtofunctionality  Customerjourneymapping,Channelsetc. Questionsrelatedtotechnology  Tools,vendors,currentstate,integrationsetc. Questionsrelatedtopeople&process  Internalowners,skiills,in-housevsexternalsupport,governanceetc. AsklotofQuestions–startwithbusinessobjectives &thengofortechnology.
  15. 15. 14 2. UI, UX Design Onlydifference betweengoodandbaddesignisUser acceptance  Customerfocus  Conversionfocus  Multi-channel(Responsive)  Quickglanceversion  Donotoverdo  Speed  Simple  Testing(A/B) KeyPointstotakecare:
  16. 16. 15 3. Content Management Contentistheheartandcoreofanydigitalinitiative  AvoidSilos  Multi-Channel  Personalization  Conversionfocus KeyPointstotakecare:
  17. 17. 16 4. Marketing Automation Email–marketing isstillthemostpopular channelin AM/WMindustry  Segmentation&Targetingakeystep  Nurturing&CustomerEngagement equallyorevenmorecriticalthat customeracquisitioninAM/WM  SocialMediatobeusedeffectively  Thereisneveraperfectcampaign  Analytics isthekey KeyPointstotakecare:
  18. 18. 17 Integration is the key
  19. 19. 18 5. Manage Search Engine Clientsalwayssearchforfindingsolutiontotheir needsandnottolookoutforanyproduct  Continuousactivity  Targetlinkstobio-pagesratherthanhome-page  Keywordselectionshouldalwaysbethestartingpoint  Noshort-cuts(punishmentbyGoogle) KeyPointstotakecare:
  20. 20. 19 5. Growth & Change Management Embrace changepro-actively andnotreactively  Changesshouldbetriggeredbybusinessobjectives  Pro-active roadmap  Avoidpeer-pressurefromcompetition  Changemanagementbydesign KeyPointstotakecare:
  21. 21. 20 CONNECT WITH US 1-877-339-6264 www.edynamic.net contact@edynamic.net twitter.com/edynamic youtube.com/1999dynamic facebook.com/edynamic.net

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