How Can Funds Use A CRM To Raise And Retain Assets? Part Two
Published: 5 December, 2020
This is the second in a series of articles about how funds can use a CRM to raise and retain AuM.
I’ve already made the point that the key stats you need within your CRM are related to who is and isn’t engaging with your content, as that shows you who may be looking to invest – and those who may be looking to redeem.
But there are many more key statistics that can be gleaned from data analysis – and most of these are available within even the most simple CRM, so there is no excuse for not collecting them – such as:
Basic engagement data – who opened and looked at what and when. This gives you a useful overview of any one campaign.
Device usage – are people mostly using mobile or desktop? iOS or Android? This is useful for optimisation purposes.
Geographical spread – knowing where your prospects live gives you a handy insight into where you should be concentrating your marketing firepower. For example, this is something we track at ProFundCom and it’s revealing a growing amount of traction from people in south-east Asia. So, we have built some campaigns specifically aimed at those prospects – and are building leads in that area as a result.
But it is only when you introduce these basic analytics into a more advanced platform (such as ProFundCom, but you could also use Excel, Tableau or Power BI) that tracks and analyses data over time, that you can see a wider and more useful picture. A more involved look at analytics lets you see, for example, the topics that are most useful – and which segments of your audience they appeal to most. You can also identify key prospects and clients and see where they sit in your funnel.
What’s more, this deeper analysis allows you to track campaigns by type and tags, along with the investor types and location each one appeals to most.
When you consider that the investor journey is now almost entirely online and made up of multiple digital touchpoints, it’s easy to see the importance of engagement data. This situation is unlikely to change too much post-Covid.
Of course, this information can only fulfil its ultimate aim – that of raising and retaining AuM – when it’s in the hands of your sales team. You must have it all within your CRM, but you can’t expect reps and relationship managers to go digging around for it.
To work properly, you must bring it all together in a ‘lead deck’ format, which allows someone to access engagement history for any one person on your marketing database and see what they like, what they don’t like, and even which digital touchpoint actually brought them into the fold in the first place.
This type of granular information – presented in an easily accessible way – is a massive benefit when it comes to an actual sales conversation.
