Category Archives: Fund Fact Sheets
When looking at content automation and sales enablement solutions, firms are often confronted with a tough decision: To build or buy? Over the past 20 years, I’ve participated in many of these discussions and seen it go both ways. Sometimes the decision is successful and other times it ends up a costly mistake. On one hand, it isn’t always less expensive nor less risky to build software as opposed to buying commercial solutions. For example, when application development projects are initiated with the intent of justifying and maintaining the technology team. Then, unfortunately, they never get off the ground because they can’t be supported technically or economically. What then happens, after all the internal effort and expense, is a new commercial solution is procured to replace it.
On the other hand, sometimes the technological or business needs are so pertinent to operations that they cannot be outsourced. In these circumstances, there’s a good case for insourcing as opposed to outsourcing if the board of directors approves. Also, the IT organization must be truly committed to the budget and vision. At the end of the day, the success or failure of development efforts should be measured against the same criteria. When weighing the decision to build or buy, I recommend using these six criteria:
Maintaining a strong and positive brand image is more important now than ever. Every contact with a client and every piece of material they see from your firm needs to be professional, timely and well produced. Even something as mundane as a poorly produced factsheet can be off-putting and give an investor pause to think about the overall quality of your operations. Yes, even in the digital age, quality design and typography in printed materials really matters. That’s why automating factsheets in PowerPoint is a bad idea.
A long-time head of marketing for a major asset manager once said to me: “If you look at the most successful companies in any industry, you’ll find that they share one thing in common; excellent branding.”
Due to the competitive nature of the financial services industry, content automation has become a strategic priority for many. With a finish line goal to improve scalability, risk management and brand compliance, the race is on to improve marketing and sales operations. The challenge firms face is knowing how to approach content automation. Is it better to build or buy? What are the differences between the leading vendors, and their approaches?
In 2017, we commissioned some research on how asset managers are automating content production. The research found 3 common models: Fully outsourced, DIY, and hybrid. Here’s a brief description of each and the pros and cons.
When discussing content automation goals, buzzwords like ‘streamlining’, ‘consistency’, and ‘efficiency’ are often tossed around. These are good goals to strive for but can be difficult to achieve due to business reasons beyond marketing’s control. After all, the products represent different strategies, ages, data, and audiences; therefore, the literature has to reflect this. In the end, the main goal of content automation should be to make the process as simple as your firm’s business rules and product nuances will allow.
As we discussed in a recent post, the complexity of your fact sheets is one of the main driving factors behind the cost of implementing and maintaining an automated solution. In this blog post, we’ll identify and discuss the top 3 factors that complicate fact sheet automation: