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![How NYC compares to other IFCs
Cities with English
as lingua franca Classic Financial Cities New Financial Cities
Fully fledged Centres NYC/Chicago, IFC London, GFC Dubai, RFC Singapore, IFC
[GMT-5] [GMT] [GMT+4] [GMT+8]
Geographical US, North America and UK, Japan, US, Sydney
AEAN region, East Asia
zone of influence the world such as: and other EU centres like
Middle East, Persian Golf with HK, Taiwan and
(Emerging cities: Mumbai, Mexican, Turkish, Paris, Amsterdam,
and South Asia Tokyo but not as global
GMT+5.30 and Shanghai, Russian, Brazilian and Frankfurt (over regulated
GMT+8) or culturally adaptable
Argentina debt crisis and taxed)
Chronology Since 1870-1918 3 centuries, 1830-1918 Since 2004 Since the 80’s and 90’s
Workforce and Create more IF
Tolerant, cultural and Global city with unclear
businesses (500 FFFs)
working networks Human capital and IT lingual heterogeneous, succession ahead of
ahead of Tokyo, Paris,
different financial firms Bahrain, 73 global firms
Frankfurt
FS Institutions Fed, SEC, CFTC, OCC BoE, FSA DIFE FSA, Courts, Registry MAS regulatory, promotion
Capital controls / Regulatory regime Global standards Supervisory & regulatory Regulatory/fiscal incentive
openness Rules-based system Principles-based system Zero income tax for locals Laissez-faire safe haven
Policy focus on Sarbox (seizure), Glass- LSE, Int’l bank lending,
UNR-USD, SGX, ACU,
finance Stealgall (split-up) consulting and cross- DGCE, independent of
Singapore dollar bond
ETDs, NYSE, NASDAQ, border M&As, trading / UAR+E federal laws
market, ADB, SDCB, SGS,
NYME, CME, CBOT, KCBT issuing int’l bonds, PPPs
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Financial Services - Asset Management - Events Marketing Planning - June 2011
The document outlines a comprehensive marketing plan for an asset management event portfolio, detailing integrated marketing strategies, event planning, and promotional activities targeting decision-makers in the financial sector. It emphasizes building brand equity, enhancing customer experiences, and utilizing various digital and direct marketing channels to increase attendance and sponsorships at events. The plan also includes strategies for budget setting, performance measurement, and leveraging social media to create communities and drive engagement.
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Financial Services - Asset Management - Events Marketing Planning - June 2011
- 1. Marketing plan forthe Asset Management Event portfolio 1. Integrated marketing strategy 2. Event marketing planning 3. Email and Social Media Promotion Presented by Samuel Chatelain S. P. Chatelain © 2011
- 2. Asset Management EventsPortfolio 1 - AN INTEGRATED MARKETING STRATEGY S. P. Chatelain © 2011
- 3. Integrated events strategyfor success Achievable Event Objectives Realistic Event Cycles 1. Ensure event Millstones sponsorships, attendance goals and repeat business Three by type of events 2. Enhance customer experience, build Phases Small Large events events communities 3. Demonstrate and showcase 1 - Planning and opportunities data cleansing 4 weeks 8 weeks 4. Build brand equity and phase enhance marketing activities that already work 2 - Marketing and (upsell, referrals) 16 weeks 24 weeks selling phase 5. Use social media, direct and digital marketing, lead 3 - Organisation generation and advertising and delivery 4 weeks 6. Budget setting in July/August phase for the year ahead S. P. Chatelain © 2011
- 4. Five routes tostrategic advantages Business/Product Offering Old/Existing – improve the way of strategic decision New/Creative – change the direction of strategic thinking Route 1 – Key Factor Success Route 4 – Aggressive initiatives Compete wisely allocate resources where they will be most effective in relation to KFS Direct competition with new business or new products Intensify functional Improve branding Encourage New tech, sector trends differentiation valued by users Increase share of Enhance roundtable Increase user loyalty competitor’s voice on social media Cost of remaining customers to switch format to digest differentiated and networks presentations Image issues brands (launch new events) Route 2 - Relative superiority Route 5 – Strategic degrees of freedom Avoid head-on competition Exploit competitor's relative weakness using price or cost leadership Embrace innovations in products or markets where no competitors exists Price advantage, scaling Cost structure leadership Maximise user benefits Maximise customer Integrate MkIS Pricing decision flexibility Enhance exhibitor-to- satisfaction/intimacy Better price/value Reduce staff visitor ratio Close up to market communication in all turnover and cost of Launching new niche shift growth in distribution channels retaining talents events faster emerging markets (Dubai, Mumbai or Shanghai) Route 3 – Focus or Niche Development of unique product features (but imitation may come onto the market) Determine a specific competitive advantage that may be gained within a particular market segment Become more experienced than competitors using new techniques and marketing processes S. P. Chatelain © 2011
- 5. Budget target –numbers’ game based on contact database of 190,000 senior decision-makers Location Visitors Speakers Sponsors Exhibitors Supporters* Sub- Events (*) Supporters: Media, Knowledge & Length Month 5xLondon S, G, D, B total Marketing Partners, Official Association, NYC, SGP 1,420 250 47 44 95 186 Official PR Agency, Endorsement 12 days (> 2/3) (1:5) (1:30) (1:32) (1:14) (1:8) Visitor Ratios: e.g. 1:5 5 for 1 visitor London Event 1 London 2 days 130 25 3 6 9 18 Sept. (= 2/3) (1:5) (1:43) (1:22) (1:14) (1:7) European Event London 2 days 500 75 22 22 36 80 March (> 2/3) (1:6) (1:22) (1:22) (1:14) (1:6) North American Event New York 1 day 250 58 12 8 23 43 June (< 2/3) (1:4) (1:21) (1:31) (1:11) (1:6) Launch event in Asia Singapore 1 day 150 25 3 6 9 18 Oct. (> 2/3) (1:6) (1:52) (1:25) (1:17) (1:8) London event 2 London 2 days 150 21 3 7 17 27 Nov. (= 2/3) (1:7) (1:50) (1:21) (1:9) (1:6) London event 3 London 2 days 120 23 7 1 10 18 Nov. (= 2/3) (1:5) (1:17) (1:120) (1:12) (1:7) London event 4 London 2 days 120 23 3 6 9 18 May (< 2/3) (1:5) (1:40) (1:20) (1:13) (1:7) S. P. Chatelain © 2011
- 6. Remarkably healthy industry with ample capacity to tackle many of challenges ahead (Key management themes that separate winning asset managers from losers) Sales processes move to a more New approach to third-party institutionalised and consultative distribution and joint production wholesaling modes with co- through both the asset managers' and marketing alliances insurers' platforms Seizing the retirement opportunity New product development is growing Emphasis on open-architecture in importance with serious pricing platforms ramifications UCITS IV: breaking down national UCITS IV: challenges with SRRI in all barriers and promoting economies of asset classes scale AIFMD: 3rd country IPO market growth restriction, depositary tariffs, onerous Driving scale to generate operating reporting leverage More extensive due diligence and sophisticated performance metrics OTC derivatives: unintended effects S. P. Chatelain © 2011
- 7. A wider rangeof players enters the industry to deliver on the changing needs of retail and institutional investors S. P. Chatelain © 2011
- 8. Distribution channels Make readily available all marketing deliverable and branded promotional sales tools for targeted audiences Online and offline channels Intermediaries distribution pipelines Implement new marketing campaigns Develop and distribute timely, effective publicity, news and (PR, advertising, social media) and other multichannel feature articles promotional activities (discounts & early birds) Brand Associations • Exploit Sponsorships Conference-intender and existing clients Social Media • Build communities Solutions Providers and IFCs Advertising • Especially to trade publication Promotions • Other ad hoc trade events Marketing Partners and Sponsors B2B Presentation • Sponsors and supporters Other major financial & AM events Direct Mail Program • Purchase of mailing list Trade-Out FS Associations, clubs and other bodies • Offer to bloggers/twitters Journalistic Reviews • Offer discounted visit Institutional, regulatory and supervisory bodies Viral Marketing • Interactive experience UK, US and Asian Financial journalists (PR) Press Kits • Prepare press releases Marketing Materials • Conference deliverables Trade press and financial magazines (e.g. IC, FT) Newsletter • Upcoming events promotions Online Social Media platforms in English Follow-up calls • Call clients after mailings Client profile record • Keep attendee lists up-to-date UK, US and Asian online communities S. P. Chatelain © 2011
- 9. Marketing Strategy Integrated and multi-channel • Digital and direct marketing campaign aims for direct response • Advertising, PPC and media partnerships bring Direct and awareness and increase Digital Marketing share of voice • Social media develop communities and Relationship networks Management and Social • Relationship Media management builds user intimacy Advertising, Web and • Web presence optimises PR, contra SEO, PPC, link organic search deals & media -building, viral partnerships Marketing S. P. Chatelain © 2011
- 10. Strategic Communication Plan Aim: to promote the Asset Management portfolio in its respective markets blueprint for comprehensive external communications and public relations support for successful events External Comms objectives Creative Approach • Promote and increase public • Create an appealing, timely, effective promotion campaign for an enjoyable awareness and enhance the networking and learning experience perception of the brand as a • Emphasise the value of networking, premium event provider for senior interaction, productivity and discussion at decision-makers roundtable in cover letter and press kit to trade news and feature editors and • Develop and distribute timely and content directors for all digital media. effective publicity, news and feature articles User profiling characteristics • Provide staff and intermediaries with ad hoc deliverables for print and • 190,000 senior decision-makers electronic media • Mostly male • High level of purchasing authority • Provide customers and sponsors with attractive, easy-to-read, easy-to- • Frequent business travellers understand collaterals that motivate • Readers of high-quality international press. them to visit websites, join online • Spend an average of £1,300 communities and confirm attendance • Work as asset managers, insurers, pension funds managers ,or at Invest. or retail Banks, hedge funds, private equity or venture capital firms S. P. Chatelain © 2011
- 11. Acquisition and retentionprogrammes Brand advertising and customer development July-Sept 2011 Oct-Dec 2011 Jan-Mar 2012 Apr-June 2012 Brand Advertising “Putting the best way of networking on the table” • London event 2, • London event 1, • London event 3, Product • Europe Event, May Sept. Nov Promotions March • North America • Launch event in • London event 4, (20-32 weeks prior) event, June Asia, Oct. Nov Offer incentive to Run co-located Tactical Provide reminders Supply premium attend next London events in London to meet the speakers at next Acquisition deadline of largest North American’s event and the event for twofold Messages launch for the openings: London European event event ASEAN market event 3 & 4 Customer Essence “It’s good to talk and network at the conference” Customer Present users with Entice users in Ensure users are Develop customers information and reading or Retention confortable with to select their reasons to attend downloading the Messages their participation streams and tables other events newsletter S. P. Chatelain © 2011
- 12. Performance measurement: balancedscorecard Key strategic Financial Customer Goals Measures Goals Measures issues Survive Cash flow Brand image Competitor's user 1.Daily Credit rating switching management of personnel Succeed Revenue growth Satisfaction Customer 2.Develop experience ratings individual Prosper Repeat business marketing Retention Subscription plans/budgets to renewal and achieve targets rebooking rate 3.Monitor activities throughout the Internal Business Innovation & learning Goals Measures Goals Measures team (setting of regular targets) Excellence Quality of service Learning curve Time to excellence and delivery 4.Provide feedback Training 360 appraisals on performance to Quality of management team Alliances strategic alliances Improvement Time to market 5.Implement efficient systems across the board S. P. Chatelain © 2011
- 13. North American Event 2– EVENT MARKETING PLAN S. P. Chatelain © 2011
- 14. How NYC comparesto other IFCs Cities with English as lingua franca Classic Financial Cities New Financial Cities Fully fledged Centres NYC/Chicago, IFC London, GFC Dubai, RFC Singapore, IFC [GMT-5] [GMT] [GMT+4] [GMT+8] Geographical US, North America and UK, Japan, US, Sydney AEAN region, East Asia zone of influence the world such as: and other EU centres like Middle East, Persian Golf with HK, Taiwan and (Emerging cities: Mumbai, Mexican, Turkish, Paris, Amsterdam, and South Asia Tokyo but not as global GMT+5.30 and Shanghai, Russian, Brazilian and Frankfurt (over regulated GMT+8) or culturally adaptable Argentina debt crisis and taxed) Chronology Since 1870-1918 3 centuries, 1830-1918 Since 2004 Since the 80’s and 90’s Workforce and Create more IF Tolerant, cultural and Global city with unclear businesses (500 FFFs) working networks Human capital and IT lingual heterogeneous, succession ahead of ahead of Tokyo, Paris, different financial firms Bahrain, 73 global firms Frankfurt FS Institutions Fed, SEC, CFTC, OCC BoE, FSA DIFE FSA, Courts, Registry MAS regulatory, promotion Capital controls / Regulatory regime Global standards Supervisory & regulatory Regulatory/fiscal incentive openness Rules-based system Principles-based system Zero income tax for locals Laissez-faire safe haven Policy focus on Sarbox (seizure), Glass- LSE, Int’l bank lending, UNR-USD, SGX, ACU, finance Stealgall (split-up) consulting and cross- DGCE, independent of Singapore dollar bond ETDs, NYSE, NASDAQ, border M&As, trading / UAR+E federal laws market, ADB, SDCB, SGS, NYME, CME, CBOT, KCBT issuing int’l bonds, PPPs S. P. Chatelain © 2011
- 15. Global growth Areasfor 2009-14 Hedge funds, private equity and emerging markets (e.g. Brazil and Mexico) S. P. Chatelain © 2011
- 16. Priority target valuesegments Segment Value Low High High Promote Target Inform and Incentivise Grow share of wallet • Hedge funds • Fund managers Segment Potential • Retail banks • Insurers • Private equity firms • Lapsed, Intenders • Aware, Unaware • Relevant users • NAFTA or Canada • New York and Chicago Manage Retain Reward & build advocacy Optimise services • Pension consultants • Venture capital firms • Invest. Banks • Non-intenders • Frequent Users • Informed • Testers, Purchasers • MERCOSUR Low • Brazil, Mexico S. P. Chatelain © 2011
- 17. Push and pullpromotions scheduling 20 or 32 weeks prior 16 or 28 weeks prior 24 or 36 weeks prior (early bird 1) (early bird 2) • Conference Consultations • Select media, develop •Email, E-newsletter, flyer • Marketing planning ads/banners and arrange •Direct mails, brochures • DB cleansing, list hire/swap placement, event listings •Strategic alliances • Social Media strategy • Conference Surveys •RSVP Invitations to VIPs • Develop event website 12 or 18 weeks prior 4 or 6 weeks 2 weeks prior (early bird 3) • In-print advertising • Finalisation of registration • Account management • YouTube Video cast • Selection of streams • Invoice chasing • Mobile marketing • Fax replies, replacements • Press liaison, build interest • Fax campaign • Lead qualification Event Post-Event • Roundtable setting • Online evaluations • Onsite Registration, • Online social networks rebooking • Debriefing, event planning • Evaluation Forms S. P. Chatelain © 2011
- 18. TSAM NA eventmarketing spends for visitor acquisition and retention Deliverables by channel Forecast 1 Forecast 2 Email marketing (CPA) 31.9% 31.9% Direct Response Mailing (CPM) 30.7% 20.5% Digital Branding & Adv. (CPL) 26.8% 36.9% Account Management (CR) 10.6% 10.6% Total cost of sales: 20% of £1,300 x 250 = £65,000 10% contingency = £6,500 £58,500 S. P. Chatelain © 2011
- 19. North American Event 3 - EMAIL AND SOCIAL MEDIA PROMOTION Targets Location Length Month Visitors Speakers Sponsors S, G, D, B Exhibitors Supporters* Sub- total North American Event New York 1 day 250 58 12 8 23 43 June (< 2/3) (1:4) (1:21) (1:31) (1:11) (1:6) S. P. Chatelain © 2011
- 20. Email marketing andbranding Components of communication content for 20 emails Email-shots Event updates • Event Review • What’s new? • Consultations • Working commissions • Conference Surveys • Conferences tracks • Save the dates • Keynote speakers confirmed • Event Preview • Who's coming? Who's missing? • RSVP Invitations to VIPs • New marketing/media partners • Don’t miss the early bird • Confirmed speakers • Short programme • New event sponsors, exhibitors • Last chance to save • Case studies, workshops • Full programme • Round-tables • 4 weeks or 12 months • Event report findings • Offers and competitions • Only 2 weeks to go • Online evaluations S. P. Chatelain © 2011
- 21. Subject-lines validated byopen rates Fund managers Pension funds Private equity, Hedge funds Insurance managers venture capital Retail banks companies Invest. Banks firms Male High Value Experience the Experience an event Make it especially Discover new topics Frequent user C-level roundtable in a completely productive and time- on most pressing Tester English discussion different way effective this year issues Male Looking for a sense One day out of the Your business Low Value C-level More discussion of in-depth office: time to suitability Lapsed more learning understanding of reflect on key with us and future is essential Intender English what’s in offer out industry trends to us there? Male experience a truly Negative Value The pleasures of Take advantage of Choose us for your C-level unique event at one of Non-intender listening to speakers this year’s conference continuous carrier our stunning venues Informed English expert in their field early bird development throughout the world! Uncertain Male The workshops and At least we know If you need to get Network and learn at Value C-level roundtables for your there is something ahead of your the next event in New- Unaware next team building refreshing about a competition, come English York City Aware event well-spent event along to our event S. P. Chatelain © 2011
- 22. Email content validatedby CTR Week Lead-ins / banner headers Lead-outs / footers W-17 Overview of the conference in NYC and why should you attend it - What are the W-28 Key topics? Who are the industry experts? W-15 But, before going away for the summer break, take advantage of our early bird Book W-22 fee and tackle the fourth quarter a-head of your competitors before our W-14 W-18 Don't take our word for it - a note from our conference chairman… early bird discount ends W-13 Reflect, dissect the conference presentations at one of our discussion round- to save W-16 tables W-11 We missed you at your office! Health-check and brush-up your skills - 10 weeks W-14 to go & 2 weeks left to take advantage of the early bird fee W-10 The top 3 issues that keep your peers awake at night to deliver successful Book within the next two weeks. W-12 projects are…if these resonate to you… Afterwards our early bird offer ends. Places are in limited supply. W-9 Half of the places are now taken - join like-minded peers at the conference and W-10 Book by Friday to save. our pre-event workshop - list of delegates so far Afterwards our early bird offer ends W-8 Many case studies for as many different views - Meet with our leading sponsors W-6 This time I shall leave it to our workshop leader… Places are limited and The conference is just hours away from your office door step - take advantage of early booking is recommended W-5 best hotel fees available before it's too late W-4 New case study for best practice… Don't miss the conference - 4 weeks to go Mr…, an expert in... He'll be there. Mr... , author of... He'll be there too. Those Don't miss out! Book your place now. W-2 firms are all presenting case studies. So, they'll be there. But Sir, your place is still First come first serve open, and we hope you'll be there too. Today is your last change to join our guest speakers, sponsors and link-minded W-1 Don't miss out! Book your place now. peers at the conference Event Thank you email - timing and other practical information Select your stream and round-table s TSAM MONTHLY STOP PRESS - 6 key issues about Asset Management in Monthly Don't miss out! Book your place now. association with media partners S. P. Chatelain © 2011
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- 26. Why embrace SocialMedia now? 1. Important SEO tool Employees Customers • • 2. Customers expect • Ideation wikis Social CRM Social Marketing through Blogs, Revenue Side • organisations to be Insight generation Facebook, Twitter, etc. • social from Social Media Crowd-source communities • 3. Significant marketing Customer engagement data and consumer • Knowledge • communities Listening and feedback Management Communities monitoring programmes Cost Side 4. The new PR • Function Wikis • Customer outreach through social 5. Produce very high • Employee suggestion • media Customer service conversion on leads brainstorms support communities S. P. Chatelain © 2011
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- 29. Thank you Q&As S. P. Chatelain © 2011
Editor's Notes
- #2 My name is Samuel Chatelain and I am going to present to you the marketing plan for the Asset Management Portfolio. I will explain how we can implement an integrated marketing strategy to match its portfolio offering to customer needs and trends, and how it can sustain its competitive position within its marketplace and sector.I will also detail a marketing strategy for an event in North America and discuss how email marketing and branding can be cost-effective to promote this event.
- #3 The best way to deliver brand value is to communicate the brand proposition for its asset management events portfolio through an integrated marketing strategy. Indeed, the brand differentiation of networking and learning from expert professionals will certainly appeal better than senior decision-makers cluttered in their day-to-day office routine.
- #4 As you may already know, a successful strategy starts by setting achievable objectives and a realistic timescale. Depending of the event size – large, medium or small – there is an event cycle of between 24 to 36 weeks which goes through three distinct phases: i.e. planning, selling, delivering. It usually takes two thirds of any single event cycle to promote an event, for at least 16 to 24 weeks. The key objectives for a successful event?To survive: ensure event sponsorships and attendance goals and meet budgetsTo succeed: repeat business, build brand equity and enhance marketing channel reachTo prosper: enhance customer experience and grab new business opportunities
- #5 Improving branding and increasing share of voice on new media and digital channels are two of the five routes to achieve differentiation and greater marketing mix performance. Another one could be to launch new events faster.Some of these strategic recommendations will lead into budgeting campaigns across online and offline channels with above and below the line advertising and marketing activities.
- #6 The PriceA key task is to set the KPIs and the budget targets in terms of attendance goals; if not, in terms of revenue generated. The asset management portfolio has 5 events based in London, 1 in Singapore and another 1 in New York City for one or two days. Peer-to-peer networking and learning experience is optimal with two thirds of participants being visitors. Yet there is an opportunity to maximise sponsor-to-visitor ratio at maybe 1:15, instead of 1:50. Due to the limited and partial availability of financial or accounting information, I won’t cover today: cost of sales, overheads, sales income or operational margin. I will, however, look at marketing expenses based on average visitor incomes for the North American’s event later on. Having said that, both skimming and penetration pricing strategies can be used alternatively depending on products and customer segments.
- #7 The market placeTheAsset Management industry landscape is more crowded and complicated but very much capable to tackle the challenges ahead. However there are short and long term threats and opportunities to identify.Long term challenges:Pricing on traditional products could decline by up to 20%, putting pressure on profit margins. New regulations are been applied (e.g. UCIT IV, AIFMD) with tremendous effects on the industry on itself (e.g. single EU market, reporting, tariffs, etc.).Short term challenges:Sales processes move to a more institutionalised and consultative wholesaling modes with co-marketing relationships. 30% of earnings will be derived from new products, leading to new and innovative approach to third-party distribution and joint production
- #8 The PeopleTo deliver on the changing needs of the retail and institutional investors, a wider range of players enters the industry while scale will intensify:the big firms will get bigger albeit a measured pace of M&A. Amongst others, hedge funds and private equity managers are the ones on the rise with strong growth opportunities.
- #9 The Places of distributionBuyers or solution providers can be reached through a number of channels, both online and offline. The value chain of intermediaries will relay key messages, increase visibility to customers and raise backing of key supporters and sponsors. Themarketing campaigns and other promotional activities –from PR, advertising and viral marketing to push discounts and early birds to targeted audiences, will ensure timely and effective development and distribution of publicity, news and feature articles through the distribution tunnels. A priority will be to develop and maintain good working relationships with all external stakeholders depending on their level of interest and their level of influence. Some will need to be kept satisfied and informed; others to be monitored and managed closely.
- #10 The Promotion MixThe marketing strategy, along with itsmedia buying plan,would need to be integrated across multiple channels to connect better with potential customers. Meanwhile existing customers, sponsors and other event ambassadors will also exercise an important part of the retention strategy. The delivery of this integrated marketing strategy will require the use of project management techniques to deliver each element of the promotion mix across multiple channels: direct and digital marketing; relationship management and social media; advertising, PR and media partnerships; dynamic web content, link-building and viral marketing.
- #11 The strategic communication plan will aim to increase public awareness of the events by stressing the value of a networking and learning experience.By working on an average spend of £1,300 per visitors and their profiling characteristics, promotional price offers will be planned upon availability, how well each event sells and depending on the life value of customers.We will then agree on communications objectives and schedule the promotional pricing recommendations.
- #12 Creative messagesThe advertising and acquisition campaigns will start at least 20 to 32 weeks prior each event to ensure an optimal customer experience monitored on a quarterly basis. The retention activities are then organised in line with the advertising and PPC. Each stream will follow a story line and have a different key message tailored to each event and specific target audiences.Key messages- The unique selling proposition for brand advertising could be “putting the best way of networking on the table”. - The value proposition for retention could be focusing on the fact that “it’s good to talk and network at the conference”.
- #13 Performance measurementMoreover,we will look at evaluating pipeline performance in order to optimise each marketing channelby tracking, monitoring and measuring marketing KPIs, over current and historic event cycles. We will then develop and use marketing metrics and accounting measures of the performance of specific marketing activities against objectives to evaluate performance achieved, compared with the original business case.Theuse of the balanced scorecard framework will ultimately leverage linkage between performances at different levels: financial, customer perspective, internal business process, innovation & learning. Thus it facilitates new planning, forecasting and budgeting when and where required. KPIs could include:Increase Leads Generated, Conversion RatioIncrease customer acquisition across new and existing customersIncrease revenue & no of sponsor package sold Increase customer retention levelIncrease (Referrers) Unique Visitors and CTR
- #14 Having planned for the whole Asset Management events portfolio, let’s develop our marketing strategy for the TSAM in North America further.
- #15 The key themes of Asset Management Portfolio events have been extended to the European, Asian and Northern American markets and held in one of the few international financial centres across the world. The North American conference is no exception and will take place in June 2012 in New-York City for one day. It competes for instance against the New York Forum and could be organised alternatively between NYC and Chicago as an opportunity to focus on different but similar US financial clutters. The US financial system is mainly rule-based as opposed to the British principles-based system or the newly regulated single EU market. Famous US rules include the Sarbox (seizure) or Glass-Stealgall (split-up) regulations. These differences could trigger strong interests from asset managers who’d like to grab overseas opportunities and offer greater choice to their investors.While London has a global reach, New-York and Chicago have also the opportunity to reach the world and the Americas. The American market is mainly accessible from London in the afternoon. The repartition of visitors and sponsors will scale from local, near regional to overseas: 40-60% local; 20-30% regional and 10-20% overseas at the best.
- #16 Market growthEmerging markets are strong growth areas (e.g. Brazil and Mexico). Hedge funds, venture capital, and private equity firms currently reshape and redefine the industry. Insurers, investment banks and pension consultants will play a broader roles for retail and institutional investors than theydo today. And banks are developing new structured and takeout solutions to compete with insurance firms.
- #17 Knowing the value and the market potential of each customer segment can decide which marketing strategy to apply. However, the value and potential of each type of users needs to be balanced from the perspective of the sponsors. Which visitors want to meet which sponsors and vice versa. Do investors and asset managers need to be invited? Policy-makers and decision-makers? Do we only get asset managers and solution providers to attend?As a general planning rule we would consider the following:Target and grow share of wallet in New-York and Chicago, relevant users, ladpsed and intenters as well as fund managers and insurersRetain, reward and build advocacy with testers, purchasers and frequent users, pension consultants and investment banks but also look at attracting key Brazilian and Mexican playersInform and manage other type of potential or existing buyers as well as reach other players in Canada and MERCOSUR area.
- #18 Knowing who to target directly and indirectly, we can then schedule push and pull promotional activities to deliver on target. Starting first with an initial planning phase with key stakeholder consultations, we then look at developing the media plan and continue by putting together digital and direct marketing activities which will be intensified by the use of account management techniques and greater press liaison. Finally from 2 to 6 weeks prior to the North American event we use fast response and viral marketing activities to build-up customer intimacy. During the event we look at maximising the customer experience with the organisation of roundtables.
- #19 The marketing budget is built upon 20% of revenue generated by visitors. Initial outgoings can be secured with an initial sponsoring contract of similar value. Standard sponsor package prices could start as little as £40K, £65K or £130K depending on the scale of the event.It has been designed for an event of about 250 visitors. Since an average visitor spends £1,300, we can anticipate the following revenue and marketing costs.Medium size event: revenue: £325,000 (250); proportion allocated for marketing spends £65,000 (20%) - contingency (10% or £6,500) = £58,500 [Large-scale event: £650,000 (500); £130,000 (13,000) £117,000][Small event: £195,000 (150); £40,000 (£2,000) £38,000]Direct response marketing activities in the form of email marketing and direct marketing are key channels to promote this event due to the seniority of B2B target audiences (i.e. over 2/3 of the budget), with the rising share in the budget, of new media and digital channels, along side, to more traditional account management techniques. Ultimately the response and conversion rates for each channel will influence resources and budget allocations.1/3 - 31.9% for email marketing (£18,653)1/3 - 30.7% for direct mail (£17,926) [-½ (-£5,918) 20.5% (£12,008)]1/4 - 26.8% for digital, advertising and new media (£15,660) [+1/4 (+£5,918) 36.9% (£21,578)]1/10 - 10.6% for account management (£6,200)For sponsor and supporter acquisition, account management and direct selling (e.g. webex, skype) will have a greater share of importance while advertising and new media would need to be carefully segmented or shared between buyers and solution providers. Direct marketing and email marketing will lead on generating sales leads while direct selling will rise in importance for delivering greater value to sponsors.
- #20 Email promotion represents a third of the marketing budget for visitor acquisition and retention. It plays an important role in generating leads for sponsor acquisition. We’ll see how we can try to satisfy all potential users and sponsors with an ad hoc 1-2-1 email marketing platform.
- #21 Email marketing broadcasts will start from 29 to 17 weeks prior the event with about 20 email-shots sent fortnightly or weekly plus a monthly newsletter.The email-shots will range from an event preview, last chance early bird offers to a review of the event. They will cover a number of updates to include new speakers or topics, sponsors and key findings from consultations with key participants.
- #22 Key metrics to assess the relevance of an email subject line is the click-to-open rate. It varies depending on when and to whom it has been sent to.
- #23 Likewise, the email content is sanctioned by the click-through-rate. Many different messages increase confusion in the mind of the recipient and reduce their interest. Usually a message has to make an impact within 8 seconds. After the recipient loses interest. Thus it’s recommended to keep one message and one call to action to obtain the greatest impact. We’ve listed here key lead-ins and lead-outs for each potential emails focusing mainly on the ‘so what’ and the ‘how’.
- #24 HTML emails are most often linked with relevant data marketing for greater customer intimacy. Using different layout, visuals and contents will increase relevance for the recipient. Because of the automation processes, the use of one template and a few customer bands, lead generation goes faster than when using a static content that fits all.
- #25 Here are some simulated results using either a static content or a data driven content. The click-to-open rates are similar because the subject lines were similar. But the click-through-rates improve with data relevance significantly as the content is more relevant to each recipient. In this simulation there is an up-lift of 150% for the click-through rate. Hopefully in line with the increasing costs of using a data-driven platform.
- #26 As a result, the conversion rate almost doubles between static and data-driven content.Instead of receiving 8 qualified leads for every 100 clicks there are now 15.The challenge is with such « personalisation » we might clutter potential and existing customers in their own opinions without enabling them or us in catching new opportunities or simply new ideas.
- #27 Now let’s add social media to the equation and see if there is an uplift. But first let’s quickly discuss about the costs/benefits to embrace social media.Two statistics:80% of purchase usually start by a research if not a referral. 93% of buyers expect companies to have social media presenceThere are five main reasons. Social media is the new PR and an important tool to increase organic search, whilst it improves customer data relevance and increases lead conversions. And leads from social media focus on quality not quantity. The costs of social mediaThe costs of social media derive usually from wasted resources for knowledge management or customer service while an outreach campaign would impact negatively on a brand reputation. But when the benefits surpass the costs, a brand gains in intimacy with its customers: they won’t easily switch to the competition. The most active users will become sales champions at no extra cost and generate tremendous word-of-mouth effects.
- #28 Social sharing increases viral marketing campaign effects. Before, an ‘email-to-a-colleague’ campaign targeted the few people the recipient knew they might also be interested in an event. Now, an auto-generated post that says “I’ll be at this event on that day” or “this is a must-attend event” will reach the wider audience of its virtual network.
- #29 The results are eloquent: for 1,000 emails opened, 3.25% of the initial recipients (or 13% of those who opened the emails) will share it with their like-minded community. The key message of the email will be seen five times more than the intended 4,000 recipients initially emailed.Implications for team or network discountConsequently, the life cycle value of 2nd level connection customers is of greater importance. What is the value of a 1st connection customer bringing only £1,300 in revenue? Or, another customer raising £13,000 worth of income, from ten 2nd connection consumers?
- #30 Thank you for listening. Any questions?