CRM for Asset Managers

Without CRM technology it’s likely that your communications efforts will be hit or miss

In their must-read marketing primer, Maxi Marketing, Stan Rapp and Tim Collins emphatically describe that:

“A profound change is taking place in the way goods and services are advertised, promoted & sold. Yesterdays hit‐or‐miss “shotgun” approach of mass marketing, directed to anonymous consumers, is giving way to a new more accountable, more cost effective, more personal mode. A rising tide of technological change has brought this golden moment of opportunity.”

Asset management companies who do not recognize these profound changes, and do not accordingly embrace the technology tools that define industry leaders, are destined to fail. It’s that straightforward.

In the past, maximizing eyeball‐to‐eyeball face‐time with financial professionals was the surest way to distribution success. Asset managers with large nationwide wholesaling organizations had a distinct advantage. Not so any more. For many kinds of information and communiqués, getting wholesalers in front of financial professionals to deliver “boiler plate” investment briefings, or interpret a portfolio manager’s current take on the yield curve, won’t be the most practical or cost effective communication strategy. And more important, it may not be the most impactful or preferred communication approach for many of the financial professionals with whom you want to do business.

In today’s digital world, keeping track of and accommodating how your customers and prospects prefer to receive information and “talk to” you, and targeting your communications on a segmented basis (to increase the relevance of each communication), is every bit as important as how frequently you meet with them in person. Without CRM technology, which is designed specifically to enable mass‐ customized communications, targeted on a segment by segment basis, it’s likely that your communications efforts will be hit or miss, and your scarce distribution resources misallocated.