This time it’s personal - The Financial Services Forum · 70s and beyond who say that things like online portfolio access are a real priority for them.' Face to face need is contextual

| © 2016 ORM | Private & Confidential

This time it’s personalOpportunities & challenges for digital one-to-one marketing in BtoB Financial Services

Andy FarmerExecutive Strategy Director, [email protected]

@ormlondon

| © 2016 ORM | Private & Confidential | © 2016 ORM | Private & Confidential

A digital strategy agencyBut first… who are ORM?

Financial Services

Travel, Media & Consumer


Contents

1. The business case for digital one-to-one marketing

2. Where is it heading?

3. Current ‘on the curve’ initiatives

4. Considerations for FS marketers

5. Closing thoughts and opportunities


The business caseFor digital one-to-one marketing


Trusted relationshipsHNW and Intermediary relationships are face to face aren’t they?


But that’s changing

'Face-to-face meetings are the bedrock of wealth management relationships, but once trust is established many clients are more than happy to take advantage of the whole gamut of modern communications methods’.

'We regularly speak to users in their 70s and beyond who say that things like online portfolio access are a real priority for them.'

Face to face need is contextual

Findawealthmanager.com co-founder Lee Goggin

Ref: The Futurewealth Report 2015 (NPG and SEI)

4

5

10

0

2

4

6

8

10

12Perceived quality of the relationship

Meetin

gs per year

Poor Excellent

Amer

icas

Euro

pe

Asia

Pac

ific


Financial advisors are digitising“If you want to work with 30-year-olds, you need to use social media.”

85Of FAs have smartphones

%

70of IFAs are already using social networks for business

%

83of DFMs use social media (specifically LinkedIn)

% 29have gained $1m or more in assets through this

%

49of IFAs have acquired new clients via social

%

Ref: * Financial Adviser Magazine survey; **Pew Internet survey *** Different research


And they engage with brands that can provide valuable insight

Ref: Puttnam Investment Survey


‘If you go to a seminar and you hear something interesting, that will draw your attention and you may

investigate that a little bit further’

Webinars are catching up with events

‘I am quite into webinars because you don’t have to leave your office and you can still divide your attention

and work on other things while it is on’

‘But often, with a fund manager, there will be very little generic and it will all be about ‘How I picked my fund’

‘It might look great on my CPD but it does nothing really in terms of informing me. Some of them are too

wrapped up in their own little bubble’

42of FAs participate in live webinars or watch previously recorded events online

% 37of DFMs want online or downloadable version - the same as printed

%


‘I’d read an article over an advert’

Brand marketing and advertising is less valued

‘If there is a technical article, I will read it. If it’s an advert, I will flip it over’

‘I have to say, I am not very swayed by investment advertising’

‘I have opened the paper to read the financial news. Anything that comes out is not relevant … bin’

Ref: *BDifferent survey 2016


‘Emails are really good because you can pick them up as and when, unlike with phone calls from reps which

can interrupt what you are doing’

Email has to be focused and targeted

Ref: * Bdifferent research

‘Emails quickly triggered off the back of a recent event….. like post Paris aftermath’

‘I certainly can’t sit there and look at every emailfrom every potential fund manager or investment

house. It’s just not possible’

‘As a general rule, you tend to stick with those you know and are supported by…’


Key themes for professional audiences

Time scarcity More noiseMore advertising

More channels

Frustrations

More relevance AuthenticityAlways onMore

convenience

Expectations


Where is it heading?And current ‘on the curve’ initiatives


Ask Watson

Computers that learnTaking the strain out of relationship management with cognitive computing and artificial intelligence

Tim: I would like to identify new leads based on my current client network

Watson: I have identified eight new leads. I have ranked the leads by confidence of suitability for you.

VIDEOS HERE


What’s currently ‘on the curve’ digitally?

Which one area represents the single best opportunity for your company to deliver on its priorities?

Ref: Econsultancy/Adobe Digital Trends


Specific initiatives we are seeing

Preference centres and

Dropbox tools

Audience specific portals

Content personalisation

based on browsing

Automated alerts

For ‘professional’ audiences

Multichannel campaign

automation

Focus on digital KPIs

and reporting

tools

Content Hubs &

compliance automation

Audience segmentation and personas

Internally


Preference centres & automated alerts


Preference centres & automated alerts


Promise of bespoke content, webinars and tools if you register


But one size fits all content


Personalisation still isn’t being fully exploited

Which of the following statements best describes your company’s ability to deliver personalised customer experiences?

Ref: Econsultancy/Adobe Digital Trends


Personalisation in other sectors

19Increase in conversion through personalisation

%

Ref: Econsultancy


Mark Simmons

Independent Financial Adviser

• £100m AUM

• Tier 2 prospect. Some fund selection capability

• No previous relationship with the asset manager

• Currently seeking new investment opportunities for his clients

How could it work for FS?


Mark attends roadshow event and

meets relationship

manager

1 2 3 4 5

Mark’s journey

• Event attendance• Business Card• Word of mouth information• Interests



meets relationship

manager

1 2 3 4 5

Relationship manager

contacts Mark via personal

email

Mark’s journey


• Email opening• Link clicked


Brexit article from our conversation

Good afternoon Mark,

It was great meeting you at the event. As promised please find below the article we talked about.

Insight article

Brexit referendum: polls and

possibilities

Personal email



meets relationship

manager

1 2 3 4 5



email

Mark engages with an article of

interest

Mark’s journey



• Prospect record matched• Article read• Dwell time• Return visits• Other pages viewed


Article landing page


Digital experience platform


Fund explorer

25 pts

Fund page

50 pts

Factsheet download

75 pts

Call Back Request

100 pts

About us page Insight article KIID Download Webinar sign-up

Media Fund explorer with benchmark Insight explorer Conference attendance

Asset class page Campaign Page Email conversion Contact request

Like on Linkedin

Engagement scoring



meets relationship

manager

1 2 3 4 5



email

Mark engages with an article of

interest

Mark’s engagement score

increases as he interacts more

Mark’s journey



• Return visits• Insights read• Funds explored• Interactions on the site

• Prospect record matched• Article read• Dwell time• Return visits• Other pages viewed


Fund explorer Fund page Factsheet download Call Back Request

About us page Insight article KIID Download Word of Mouth


Asset class page Campaign Page Email conversion Contact request

Like on Linkedin

Fund explorer

25 pts

Fund page

50 pts

Factsheet download

75 pts

Call Back Request

100 pts

About us page Insight article KIID Download Webinar sign-up


Asset class page Campaign Page Email clicked Contact request

Like on Linkedin

Total: 625 pts

Engagement scoring


5

Mark is a hot prospect for a

one-to-one call

Mark is a hot prospect!


The implicationsWhat does this mean for FS marketers?


A personal experience requires operational planning

CRMUser contact details

User preferences

User behaviour

Content personalisation

Prospect/Client visualisation



And a rethink of how you approach analytics

Last Month our marketing efforts resulted in:

• 50,000 x 0 Value pts “Anonymous Visitors”

• These turned into 2,000 x 75 Value pts “Qualified Visitors”

• We expect these to generate 100 x 100 Value pts “Prospects” this month

• These 100 “Prospects” should convert into 50 meetings for our relationship managers

• Typical conversion rates suggest an increase of AUM of £££

Last Month our marketing efforts resulted in:

• 50,000 site visits!

• 6,000 fund page views!

• 500 alert registrations

• 1,500 Email Opens, resulting in 300 clicks!

• 200 Facebook “Likes”!

• 400 Factsheet Downloads!

75 of CEOs want marketers to become 100% ROI focused

%

Ref: Fournaise Group study of CEOs


Using and combining new tools to uncover data driven insight

What Where

High level performance

reporting

Media, touchpoints, sections and pages

Who

Users and personas being affected?

When

When in their journey is this happening?

Why

Why do they think it is happening?


CoreTools

OptimisationLayer

IntelligenceLayer

Using and combining new tools to uncover data driven insight

Commercial performance

Visualisation(Tableau, Business objects)

Engagement CRM/Sales

SessionReplay

AudienceFeedback


Understand content and its value

2015‐10 2015‐11 2015‐12 2016‐01Month

Financial Advisers – visits by site area

Fund centreDocument libraryInsightsAbout us

15Download factsheets from insights

% 42Non-bouncers looked at related content

%

Ref: Aviva Investors


Understand your audience journeys, throughout their relationship with you

Initial research and fund long-listingExecutionMonitoringCustomer Journey: Adviser


Closing thoughtsThe opportunity


There’s never been a better time to be an FS marketer

• Openness of your audiences to interact digitally

• Lots of data and insight to create compelling ideas and business cases

• Limitations of DCOEs are starting to become apparent

• Marketers provide the glue between the customer and the business


But you can’t ignore customer experience

43Of CMOs own the customer experience in their organisation

%

Ref: Forrester


Cross discipline collaboration with marketing as its glue

Chief (Digital)

Marketing Officer

Data

Technology

Compliance

Operations

Finance

Sales

Customer Experience

Product/Content


Thank you

Andy Farmer / Executive Strategy Director

[email protected]

@ormlondon

Documents

This time it’s personal - The Financial Services Forum · 70s and beyond who say that things like online portfolio access are a real priority for them.' Face to face need is contextual