Asset management sales and marketing efforts are fueled by data. The faster firms get clean, accurate product performance data in the hands of consultants, advisors and wholesalers, the better their chances of closing deals and increasing inflows. Effective governance for investment data is the foundation for this effort.

A growing number of firms are using marketing content automation solutions to quickly create and update pitchbooks, collateral materials and website product pages. Yet, many are still using inefficient, ad hoc processes for collecting, storing and distributing the source data that populates these communications.

These processes, coupled with a lack of formal governance around data collection and usage, increase product information’s time-to-market. Also, they raise the likelihood of errors that could result in reputational damage and regulatory sanctions.

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The most successful marketing operations teams have one thing in common: they really own their fund data. Establishing clear ownership and responsibility for the data is critical. In order to take ownership of the data, the first step is to assign data management roles. We recommend building a written matrix defining the following:

• Your data providers (where the data comes from)
• Your data stewards/owners (the person responsible for the data)
• The data consumers (all the places it’s being used)

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In a blog post by our CEO, he draws a comparison between setting up a rock concert and doing an investment management content automation implementation. In the post, he points out that the critical behind-the-scenes logistics of these operations are not fully appreciated. But they’re vital to the outcome.

For example, think back to a time you arrived early to a concert. You may have noticed the roadies methodically working to get all the equipment set up and working perfectly. Because of this, the band can just get up on stage, grab their instruments, and put on a great show. The roadies and logistics teams don’t get the attention from all the screaming, raging fans, but they certainly deserve some recognition for the role they play.

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In the heavily-regulated world of investment management, consistency and harmony between functional areas, including marketing, sales and compliance, are key goals for competitive advantage. However, blending customization and compliance is difficult to achieve.

Many disconnects happen at investment companies when marketing creates collateral which, from the sales perspective, misses the mark on client-focus and relevance—all before a compliance review. Ultimately, in the name of making the sale, salespeople customize presentations, creating multiple versions along the way that are difficult to track. This unwieldy process can cause compliance, branding, and messaging nightmares that may lead to fines, outflows, and lost revenue.

Firms are almost always aware that these disconnects exist and want to fix them, yet don’t know where to start. We recently held a webinar; The Sales Success Formula in Financial Services: Blending Customization and Compliance, to discuss this very topic. It was a Q&A session moderated by investment marketing expert Andrew Corn of E5A Integrated Marketing and explored the ways in which firms are using digital transformation to disrupt the status quo and gain competitive advantage.Read More