Digital Marketing Strategy for Asset Managers

Respond Recover and Thrive:

4 Easy Steps to Achieving a Powerful Digital Marketing Strategy for Asset Managers

Out of the many trends that are defining the acceleration of disruptive marketing in the asset and wealth management industry - the greatest is the inclusion of digital and virtual engagement. Digital and virtual engagement are driving operational changes to the sales, marketing and service models of asset managers and creating an exponentially bigger and relatively more important shift in marketing strategy that this industry has witnessed in the recent past. Although the digital strategy for any business is a continuous process, it's time, an asset management company must take steps towards building a solid digital marketing strategy to combat the post-pandemic business ecosystem,

In 2019-20 markets were down, geopolitical risks were high but it's also the time when we believe the asset management industry showed signs of rising and shining. The unprecedented and uncalled for havoc not only forced the asset managers fully into the arena of virtual selling with an increased focus on digital engagement but also propagated them to test a never before used digital marketing strategy around their industry.  Although, few firms were better prepared for this transition than others. But overall, asset managers managed to pivot quickly and flourish amid the unprecedented environment of uncertainty.

In what is becoming a renewed emphasis on developing viable digital marketing strategies, companies including JP Morgan, Ameriprise Financial Inc., Bank of America, Merrill Lynch and Morgan Stanley are increasing their efforts to develop prospective customers and engage existing ones through platforms and mediums of online marketing.

Let me share four significant yet simple steps that will give a fillip to the digital strategy adopted by asset managers in 2021.

Enhance Your Digital Advertising& Reach

In a recent research finding by McKinsey, 70% of buying experiences are based on how customers feel they are being understood. The advertising and reach should be a highly customized experience, the target must be clearly identified and reached out for the best results. A firm that can aggregate customer data and act on it in a timely fashion will rise above the competition.  To win in the marketplace, today's businesses must be customer-centric and provide unique and tailored experiences.

As asset managers, you must be able to identify what experience your core audience is looking for to take up that buying decision you want them to,

Build a Robust Social Media Presence  

Consumers are increasingly turning to digital media for information about products and services. This means that wealth management firms need to monitor their social handle. Proactive marketing campaigns are used to reach out to dissatisfied customers, solve their problems and keep them in the fold.

LinkedIn is a site where you can use the power of social connection. You can find a wide range of potential investors using LinkedIn. Their profiles will tell you the name of their company, their job title, and more. This information will help you understand whom you can contact about investment opportunities.

Complaints posted on Twitter, FB or LinkedIn may be a good early-warning sign that the company needs to invest in proactive marketing and how.

Create and Share Smart and Personalized Content

Content is King, and even after decades since this phrase was coined by Bill Gates – it holds absolutely true. Integrating personalization into your marketing strategy will improve your overall results across all mediums.  By providing quality, interesting information in a clear, concise manner, you will likely attract more page views. If the user gets what they are searching for and find your content useful you are likely to get the likes, shares and retweets you are desiring. Quality content is the surest way to gain and keep your audience hooked on you. It may take you a bit of time but in the long run, you will reap the benefits in manifolds.

Optimizing all digital touchpoints including website and blogs

Whether through paid advertising or SEO, many strategies can help your site improve its ranking on search engines and increase traffic.

But what will happen once they reach your website? Will they convert into customers? Are they leaving the same way they came?

Here is where website optimization comes in handy! When users come to your website, you want them to do something.

The average conversion rate of a website is about 2.35%;with this in mind now, you can clearly understand the number of visitors that need to be sent to your website to get conversions.

By 2021, the convergence of technological, economic, and demographic trends will transform the wealth industry, unlocking greater global wealth. It's absolutely the call of the hour to put a great digital marketing strategy in place that will bring in revenues for your business and a great return on your investment. So, don't just do digital marketing, do the right digital marketing.