Asset managers and investment firms are increasingly recognising the importance of analytical tools and benchmarking services in order to help meet company aims and objectives. With analytics helping us to make informed business decisions and drive strategies, and benchmarking helping us keep up with the competition, its no surprise that asset managers are interested in learning more about the potential of data driven marketing. With this being the case, it is critical that we use the data to its full potential.
Speaking to a solution
When it comes to analytical reporting, the key point is that reporting must speak to a solution. This means your reporting must not only be insightful but as relevant as possible to the business and marketing objectives. With this being the case, it’s important to continually question how this data helps you to achieve your goals and, more importantly, view your next steps?
The importance of benchmarking
Benchmarking primarily assists asset managers in learning best practice and identifying industry trends to ultimately make better marketing and business decisions. By benchmarking you’ll be provided with accurate comparisons to the marketing performance of your peers, a breadth of insight into what you’re currently doing well and the ability to see where small improvements need to be made.
Four ways that asset managers are using analytics
- To gather insights that improve marketing efficiency and accuracy
- To monitor performance of their operations departments and lower costs
- To measure and evaluate the effectiveness of marketing initiatives, strategies, events, campaigns and quickly address those that aren’t delivering results
- In their talent processes to discover the characteristics of high performers, which are then incorporated into recruiting, retention and professional development processes
Overall, utilising analytical platforms and benchmarking services helps to remove subjectivity and opinion, allowing asset managers to make 100% data driven decisions that improve your marketing.
Speak to one of our consultants today and find out how we can help you unleash your analytics and benchmarking potential.