Published: 15 January, 2022

What Do Fund Managers Need To Assess When Choosing A Digital Marketing Platform?

The switch towards a digital investor journey has been ongoing for some time.

But Covid sent that process into overdrive, so we are now in a situation where the process of obtaining an investor and sustaining that relationship is pretty much all online.

This is a non-linear path that takes in a large number of digital touchpoints along the way. And that means a lot of potentially valuable marketing data is being produced – and to gather, manage and analyse all that information you need a good digital marketing platform.

But, how do you choose a marketing platform for your firm? What are the main factors that you must assess to help you make an informed decision?

Here are the main points I believe you must consider:

Are you going to use a generic, or specialist, platform? This is probably the biggest question of the lot. You can save money by using a generic product, but a specialised platform is obviously going to have features that relate to specific elements of the fund sector, such as regulatory/compliance issues, and business factors around client acquisition.

What level of support do you get from the vendor? Is support on hand when something goes wrong or needs explaining? This also goes back to the previous question, as a specialist vendor will be able to answer questions and provide help within the context of the fund sector.

How easy is it to use and implement? A simple but important question – as you have to be aware of how many working hours must be put into establishing and running your platform.

Does it help you track behaviour? And to what extent? This is a massive factor in your choice, as tracking behaviour is an essential part of marketing intelligence. A good product should go beyond simple stuff like open rates and enable a deep dive into more advanced metrics such as device used, precise location, and – most importantly – engagement rates and activity. Being able to assess who has looked at what and when is vital to your fund marketing efforts, so you must choose a platform that facilitates this.

Does it integrate easily? You want to hit the ground running, rather than spend a lot of time splicing everything together with your existing systems and processes.

Does your sales team like it? The ultimate purpose of any marketing platform is to get relevant information to the sales team. So, you need a platform that produces data that sales finds helpful.

Will it enrich your data set? How will your new marketing platform add to the data you are already collecting and using? Does this justify the expense?

How much extra work/costs does the product create for you? Cheaper, generic platforms can obviously save on initial costs. But this might be outweighed by all the money and time you spend on adding extra products and processes to make it do what you want.Is a costlier, but more powerful and feature-rich, product cheaper in the long run?



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