The need for asset management firms to reassess their digital marketing strategies and make improvements is essential, as reaching and building relationships with new advisors is more challenging than ever. Yet many firms tend to lightly pass over this exercise and miss the critical value of what a well-conducted audit can do to help boost your capital-raising efforts.
A proper audit should scrutinize every facet of your marketing platform to ensure all activities align with your goals and resonate with your target audience—the investment advisors who are central to your ability to grow your AUM. A comprehensive marketing audit is not just a glance in the rearview mirror; it's a strategic examination that leaves no stone unturned.
Reassessing Goals, Objectives, and Messaging
Before discussing the details of a quality audit, take a step back and reassess your firm's overarching goals and objectives. Has there been a shift in strategy? Are your brand messages still resonating with your audience, particularly with the right advisor personas you’ve created? Staying aligned with your goals is the first step towards continuous digital marketing improvement.
The Comprehensive Marketing Audit Checklist
The Challenge of Accurate Assessment
While many asset management firms have internal marketing staff skilled in various digital marketing specialties, accurately assessing what's working and what's not remains a challenge. It's not just about having the skills; it's about interpreting the data to derive actionable insights.
Few firms possess the capability to gather and interpret data comprehensively. Key Performance Indicators (KPIs) often become mere numbers without a deeper understanding of their implications. It's not enough to know how many leads were generated; you need to understand what drove conversion rates that generated those leads and overall return on investment (ROI).
Crafting a Comprehensive Plan
Furthermore, presenting this data in a manner that is easy for the senior management team to comprehend is another challenge. A comprehensive plan supported by accurate metrics is essential for gaining buy-in and implementing necessary changes.
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