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Craft Data-Driven Marketing Campaigns with Practifi Promote

BY Chloe howard

To be a leading firm in the wealth management industry requires an in-depth understanding of your target audience. However, when disconnected software systems fail to ‘speak’ to one another, important client information becomes siloed in separate platforms. As a result, firms struggle to access the data they need to build effective marketing campaigns that delight clients and engage prospects.

Additionally, in the coming years, millennials will soon inherit most of the world’s wealth. As these generations desire more personal and effortless interactions with businesses, it becomes increasingly important for firms to engage different audiences with the right messaging. 

Practifi Promote helps marketing teams craft data-driven campaigns and drive results for your firm. By providing access to the data they need, marketing professionals can build segmented lists, create more meaningful connections and track campaign performance across the entire customer lifecycle.

The cost of data silos

The wealth management industry is continuously evolving due to changing demographic trends and disruptive technologies. For wealth managers and marketing professionals accustomed to communicating with baby boomers or Gen X, marketing to millennials now requires an entirely different approach. 

Often referred to as the first “digital natives, millennials and Gen Xers now have unprecedented access to a wealth of information available online. And, as their options for mass communication have increased, so has their desire for more personalized interactions. Learning how to interact with these new generations of investors is now critical to firms’ success. According to the Investments and Wealth Institute, ‘By engaging next-generation clients, practices also preemptively prepare for the impending wealth transfer.’

Moreover, the demand for greater personalization now extends to the entire customer lifecycle. As a result, existing clients expect uniquely relevant interactions across multiple targeted touchpoints. To stay ahead of the curve, marketers must leverage data-driven insights to provide personalized experiences that meet and exceed client expectations and set them apart from the competition.

However, as important client data becomes segmented across various tools, software and spreadsheets, many firms struggle to tap into new and existing markets. While data silos may appear harmless, 47% of marketers say siloed and fragmented data sources are the most significant barrier to retrieving data-driven insights. These silos lead to inconsistencies and inaccuracies that prevent marketers from building highly relevant experiences that help deepen the client-advisor relationship. 

In addition to operational inefficiencies, fragmented data sources can significantly impact a firm’s bottom-line results. Without a single, unified view of the customer and business, marketing teams are unable to generate growth, stay competitive and drive engagement effectively. A study from IDC Market Research found companies lose between 20-30% in revenue every year due to data inefficiencies.

Craft data-driven campaigns with Practifi Promote

While the cost of siloed data can negatively impact your firm’s performance, there are options to help you overcome these challenges. Practifi Promote helps marketing teams extract valuable data to create highly segmented lists, build more meaningful connections and track campaign performance across the entire customer lifecycle.

Practifi Promote includes access to Practifi’s Marketing app and Campaign object, where marketing teams can access Practifi data, identify campaign opportunities, build segmented lists, send personalized emails, capture campaign data and report on performance. In addition, by integrating with marketing automation platforms like Constant Contact, Pardot and Marketing Cloud, marketing teams can leverage Practifi data to strengthen marketing efforts further and create more targeted campaigns for different audiences.

Interested in learning more?

As a leading wealth management firm, it’s essential to build highly effective marketing campaigns that deliver results and cater to your audiences’ needs. Practifi Promote gives marketers access to the data they need to delight clients, engage prospects and deliver results for your firm.

Practifi Promote is available as a subscription add-on. If you’d like to learn more, get in touch with your CSM or contact a member of our team today.

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