3 Marketing Steps for Navigating the Choppy Waters of Digital Wealth Management

A key theme from the InVest 2016 conference was that robo-advisor platforms and traditional human advisors are more complementary than competitive, creating fertile ground for deals between fintechs and traditional advice providers. With the flurry of start-ups and new services launched by established players, the chaos creates challenges for investment marketers in crafting the offer and sending a clear message. Here are three steps to support success:

1. Time spent in reconnaissance is seldom wasted

Stay on top of disruptions and innovations.  Establish a competitive intelligence program to stay up-to-date systematically.  Monitoring competitive gaps and table stakes accelerates effective product development and improves marketing decisions and agility. Look at individual competitors for best practices, but don’t miss the forest for the trees.

2. Don’t get lost in the noise

In a market moving this fast, even one new partnership, acquisition or innovation can shift the competitive landscape. From digital-only solutions to giving human advisors a digital edge, the variety of value propositions is dizzying. To stand out, providers need to strike a chord with investors–deliver something they want, and communicate it with clarity.

Then sing it out across all customer touchpoints.  Drive it through product design.  Make it the center of messaging.

3. Marketing for sales really matters

A common breakdown we see is that marketing messages are not carried through–or even to–the sales channel. If you’ve got a sales channel, use it–because it’s expensive.  That means powering your sales professionals (in other words, your advisors) with the best marketing weapons you’ve got.  Crisp and compelling messaging, and strong competitive selling points win prospects and retain relationships at risk.  But keep it simple and make it easy.  Advisors are allergic to complexity. Digital presentation tools enable agility and foster consistency.

It’s up to marketing to provide a tangible single point of truth for sales.