Using AI to Improve Your Asset Management Firm’s Marketing Efforts 

If you work in asset management, you know just how important data is. Without access to the right data, it’s impossible for an asset management firm to stay competitive. But in order to access necessary data and use it effectively, your asset management firm needs the right technology in place. Artificial Intelligence (AI) is one such tech solution. In this video series, we examine 6 different areas where AI can make a difference for asset management. By putting AI to work for your business, you can increase your return on investment and stay ahead of the competition. If you haven’t yet read the previous blogs in this series, we recommend reading them as well (in any order):

 

• Part 1: Managing Wholesaler and Retailer Lines of Business
• Part 2: Managing Pipelines and RFPs
• Part 3: Planning Trips
• Part 4: Managing Client Meetings

 

In Part 5, we’ll discuss the ways that AI and machine learning can help with your firm’s marketing efforts.

 

Are Your Marketing Campaigns Effective?

One of the biggest challenges in marketing is determining which of your campaigns are effective. This is something that businesses across all industries run into, but measuring the effectiveness of marketing campaigns is particularly difficult in the world of asset management. This is due, in part, to the nature of the client acquisition process. On the one hand, you have access to a significant amount of data: your firm’s AUM; the total number of clients contacted; the touchpoints included in your marketing campaign; and the total number of conversions. But since you’re not actually working directly with the end client, drawing meaningful conclusions from this data can be a real challenge. When you’re working via advisors and dealing with a long sales cycle, it’s difficult to determine whether or not your marketing efforts are working.

 

Of course, it’s possible to get answers to basic questions by examining the data set above. For example, you can answer the question, “Has our AUM increased for this product?” But this falls short of giving you meaningful information regarding your marketing campaigns. What if you could answer much more specific questions, such as: “Is our marketing campaign generating results for a specific product?” Or, “Did a specific marketing campaign used for a particular advisor lead to the acquisition of new clients?” With the power of machine learning and AI, you can get answers to these questions and more. In this video, we examine how you can use AI to get actionable information from your data. This in turn can lead to better marketing campaigns and improved ROI.

 

AI isn’t a tool of the future. In fact, it’s available to your firm as part of software solutions you may already be using, such as Microsoft Dynamics 365. Take a look at this video to learn more about how AI can work for your firm, and keep an eye out for future videos in this blog series.

 

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