How Funds Can Use Digital Marketing Analytics To Raise And Retain Assets – Part Three
This is the third in a series of posts examining how funds can best use digital marketing analytics to increase AuM.
I’m going to start with a scary statistic:
In a recent survey, 75% of sales managers in the fund space said they wanted more sales productivity. Yet 83% of firms admitted to not having digital analytics in place.
That’s a big disconnect, as – to be able to do their job properly – sales teams and relationship managers need real time data on prospects and clients. And the only place you are going to get that in the post-Covid marketing landscape is through digital analytics.
And if you’re not doing this, then rest assured that your competitors are – and reaping the benefits, as the days of flicking through a rolodex to find your next sales call are nearly dead.
But which metrics are best to analyse, and why?
One important – but often overlooked – metric is geographical spread. You may think you know where your prospects are mostly based, but time and again I see our clients uncovering hotspots for content consumption in regions they’d never considered, which in turn prompts a rethink about the best subjects to cover.
Other important metrics include the devices people are using to view your content and the best times of day for open rates.
But digital engagement data also allows you to analyse what is working with your marketing – and what isn’t. You can gauge the effectiveness of any campaign by tracking engagement levels, which allows you to constantly improve – as you learn what works and what doesn’t
This also stretches into channels, as you can see where your content getting the most traction. Knowing that helps you to distribute more effectively and maximise your audience.
But all this feeds into the main aim of digital analytics, which is to get prospect-specific information in front of your sales team, through analytics that identify what is being looked at and interacted with on an individual basis.
And, to work properly, this needs to be within your CRM – in a ‘lead deck’ format that allows someone in sales to quickly bring up an engagement history for anyone on your marketing database, which is a massive benefit when it comes to an actual conversation.
But how exactly can this benefit your sales team most? I’ll look at that in my fourth and final post in this series.
