The demands on marketing departments continue to grow. They need to be data-led, digitally savvy and creatively minded. This is all whilst also being highly attuned to regulation, leading technology integration and focused on client experience. Let’s not forget the need to be technically competent across the product range, deepening an expertise in sustainability and up to speed on market developments. Then there is just the small matter of being quick to manoeuvre for opportunistic tactics, as well as drive forward the strategic imperatives for the business. Simple.
These are obviously a lot of different hats to wear! What wonderfully stimulating roles we have.
It is little wonder, therefore, that so many talk about the need for rigorous protection and prioritisation of team and budget resources. The good news is that budgets are steadily (and in some cases rapidly) increasing year-on-year. The better news is that comfort levels across the investment industry to invest in marketing are growing. Here are just five reasons why:
- The quality, influence and remit of CMOs
The involvement and capability of heads of marketing today is deeply impressive within asset management firms. The ability to talk to so many different parts of the business and be as comfortable as the statistician, as much as the creative thinker, has transformed our industry’s perceptions of marketing and its strategic importance.
- The digital and data glue between tech and sales
If not the owner, marketing is at the very least a key internal influencer to deliver and compete on client experience. Teams are working hard to coordinate, across historically siloed parts of the business, and establish the single client view. This equips the business with the right data to better understand and service its clients.
- Powerful culture carriers and opinion formers
At a time when the competition to attract and retain talent is fierce, culture matters. The alignment of values and principles between a business and its employees has never been more galvanising. Marketing is responsible for clearly articulating culture, vision and higher purpose in a world where generating client revenues alone doesn’t motivate staff.
- A commercial contributor, optimising sales and marketing activities
The language and focus of marketing teams are increasingly to build and drive client journeys through a marketing funnel. A funnel that marketers line with targeted conversions and lead generation opportunities back to the business. Marketing is a strategic growth driver, engaging and filtering prospects to ensure maximum effectiveness of sales teams.
- Brand strength is back as a strategic imperative
Competing on brand preference and building favourability is crucial in a market where so many client interactions are online. It is now the work of the brand to replace human interactions and ensure relevance, differentiation and authenticity. Whether it is global distributors choosing fewer providers or the sustainability credentials to compete in the institutional market, brand strength is right at the top of 2022’s priority list.
It continues to be an exhilarating upward trajectory for marketing and the range of projects that comes to its door. Client segmentation, lead generation, sustainability narrative, brand positioning, CX strategy, content to drive the marketing funnel and more. If any of these areas are priorities you are addressing and want an external perspective, you know where to find us! We’d love to help.