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TSAMBoston Summary – Thoughts on Asset Manager Enablement

TSAM Boston Provided an opportunity to discuss Asset Manager EnablementBigtincan recently attended The Summit for Asset Management (TSAM) Boston.  During this conference, we had the opportunity to speak with a number of people in the asset management space to learn more about their current challenges.  Asset Manager Enablement is a crucial component for solving many of these challenges, including:

  • Building  compliance into the content process
  • Aligning internal teams
  • A need to deliver an improved customer experience

The good news?

These are the same challenges people in other industries have as well.  While each industry has a unique version of these challenges, at a high level, they are all the same.

To simplify, let’s focus on one of the most critical pieces of content:  The PitchBook.

What is the PitchBook?

The PitchBook is a document, most often used by Financial Services and related businesses, to describe the company and the products and services they sell.

Pitchbooks are a critical sales tool in Financial Services but they can be expensive to maintain as they require compliance reviews, data enrichment, and regular personalization based upon who the book is being presented.  In addition, to deliver a PitchBook in a compelling manner you must practice, practice, practice.  

How does Asset Manager Enablement help?

Building compliance into the content process

This industry is heavily regulated and every time someone writes an email, speaks on the phone, or bumps into a client at Starbucks, risk enters into the equation.  The compliance team has a hard job and they are working overtime to ensure no laws or regulations are broken.  It’s a hard job made even more difficult by people who try to work around the process and by technology that doesn’t build compliance into the content engine.

Think about these questions as you consider if you need to bake compliance into your content process:

  • Do your PitchBooks, presentations, and other collaterals get personalized based upon the product/service mix, the client you are talking to, or some other factors?
  • Is this content enriched by data from other systems?
  • Do you spend more than a week per quarter customizing content for your compliance teams to approve?

If you say yes to one or more of these questions, you need to investigate automating your content creation using a system like Bigtincan Xinn.

Aligning internal teams

At this point, we have all seen statistics that demonstrate the value of improved alignment.  For example, Marketo notes these three research-based outcomes:

  • Sales and marketing alignment can lead to a 32% increase in year-over-year (YoY) revenue growth (Aberdeen Group).
  • Sales and marketing alignment can lead to a 208% growth in marketing revenue (Wheelhouse Advisors).
  • Sales and marketing alignment can lead to a 38% higher sales win rates (MarketingProfs).

Alignment is clearly a strategic imperative for your business.  How does Asset Manager Enablement help?

  • Document automation aligns compliance, marketing, IT, and advisors/brokers on the content and messaging being used, and also reduces the amount of work required by all of these teams to support data feeds, confirm compliant material is being used, and so on.
  • Content management and delivery systems that work online and offline, across any platform, ensures the advisor always has the right content that they need when they need it.
  • Training and coaching enable consistent training across all teams with the same information and messaging.

A need to deliver an improved customer experience

Asset Manager Enablement delivers superior customer experiences in part, as a result of the improved alignment spoken about above.  However, Asset Manager Enablement also leads to an improved customer experience via:

  • Automatic delivery of the right content directly to an advisor’s mobile device.
  • A simple, intuitive interface that is easy for advisors to use.
  • Intelligent content recommendations and guided selling features to help advisors engage with clients more effectively.
  • Content usage rules to ensure that advisors adhere to guidelines, while intuitive reporting streamlines compliance efforts.
Want to learn more?  Check out our Financial Services offerings.