Question for marketers at wealth management firms - do you have a coherent digital marketing approach yet?

Author: Aditi Syal | Categories: Digital Marketing, Digital Analytics, Email Marketing & Automation, Marketing Automation, Sitecore CMS

Question for marketers at wealth management firms - do you have a coherent digital marketing approach yet?

With the increasing demand for relevant and timely communications to customers across their lifecycle - from acquisition to retention and service to renewals - marketers need tools that enable them to meet this demand.

"A survey of approximately 140 wealth managers around the world, found that approximately 75 percent of wealth management customers indicated that they would like more interactive multi-channel offerings. Few organizations, however, currently have such offerings, and only 25 percent of wealth managers provide customized advice online." - Overcoming the digital dilemma in Wealth Management, BCG Perspectives

This is where marketing automation technology helps firms create a truly personalized, omni-channel experience by segmenting its customer base, leveraging all known data, and providing tailored messages regardless of the channel preference.

Marketing automation is an essential platform for marketers in wealth management firms. With marketing automation, you can gather data from across digital channels (web, email, social) as well as other integrated data sources to provide a truly holistic view of a customer - high value for marketers.

Marketing automation can help wealth management and private banking companies in:

- Bridging gaps between marketing, sales and compliance

- Seamlessly integrating with CRM and other marketing systems

- Managing their funnels

- Personalizing their customer interactions

- Segmenting and customizing their communications

- Passing on insight for internal stakeholders and executive decision makers

- Using sales enablement tools

- Leveraging thought leadership

Wealth management companies need to offer customers a consistent message with the right mix of channels to increase customer acquisition and maintain healthy customer relationships. There are multiple activities within each stage of the buyer’s journey that should be addressed and can be managed within a marketing automation landscape.

Have a look at an illustrative wealth management customer journey: 

wealth management


Wealth Management Customer Journey

As more and more consumers embrace digital, wealth management companies and private banks must rethink their distribution strategies and partner relationships. They can utilize automation to solve a multitude of problems that occur with the complex relationships between wealth managers, brokerage firms, advisors and end customers.