Wednesday, July 25, 2018 Stamford, CT USA — New demands from clients, advances in client segmentation capabilities and innovative technologies are making strategic marketing an increasingly powerful tool for asset managers in the fight to attract and retain institutional clients and assets.
As fee pressures and a host of other factors combine to make the institutional asset management business more competitive, growing numbers of managers are looking to gain an edge over the competition by creating or expanding strategic marketing efforts.
A new report from Greenwich Associates examines the evolution of this function, advises managers on how to create their own effective institutional strategic marketing platforms, and highlights the asset management firms that are leading the way in the field.
“Over the past decade, institutional investors have come to expect more from their asset managers,” says Sara Sikes, Greenwich Associates Principal and author of Building a Strategic Marketing Function: A Blueprint for Successful Engagement. “Organizations can no longer rely on investment performance alone to drive sales. Instead, firms are being pushed to define their competitive advantage and clearly articulate who they are, what they stand for and why this matters to a potential client. Brand image and first impressions matter now more than ever.”
A Blueprint for Success
Strategic marketing has grown to encompass several functions critical to institutional sales and asset retention, including:
- Brand development
- Client tiering, segmentation and targeting
- Thought leadership
- Technology solutions and social media
- Client journey mapping and the client experience
- Data analytics on information consumption patterns and preferences
- Marketing ROI and measures of success
The new Greenwich Associates report examines each of these areas and defines a series of steps managers should follow in designing, implementing and executing an effective strategic marketing initiative.