Strategy
How Digital Marketing Became New Normal For Wealth Managers – How To Tap It. Part 3

This is the third in a four-part series of commentaries on how and why digital marketing is now a central business priority for the world’s wealth management sector.
Paul Das, who is managing director of ProFundCom, an international digital marketing platform, has these thoughts about how wealth managers do and should use digital marketing - a crucial theme not just because of the present pandemic but because of the continued momentum behind modern technology. These articles will run in four parts over the course of this week. The editors are pleased to share these ideas with readers and invite responses. Email tom.burroughes@wealthbriefing.com
In this post, I’ll look at what is the best channel through which
to distribute your digital content and produce valuable
engagement data.
And the winner is (drum roll): Email.
It seems that, in a world where - like it or not - we’ve all been
thrust into a digital communication landscape, people
increasingly favour email as the best way to get information.
And this isn’t just my own opinion - it is based on research. In
May, a couple of months into lockdown, we completed a survey with
Greenwich Associates to analyse communication preferences for
financial information. It found that 92 per cent of people rated
email as the best way to receive data, above any other
method.
These are the best figures I’ve seen for email since it was the
only choice for digital communication. It seems that the sheer
breadth of other options - Zoom calls, Teams, IMs, WhatsApp
messages, texts etc - has sent people back to what they know
best. Respondents pointed to ‘communication fatigue’ as the main
reason for favouring email.
When we dug further, there were other reasons - the ability to
get more detailed content through email, being able to look at it
when you want, and the ease of filing the information on your own
system.
So, email is the number one weapon in your digital distribution
armoury.
Obviously you shouldn’t ignore other digital channels - web,
social etc are still important. But of course all these
channels are only as good as the content you
distribute. Because when you send out quality content - that
investors actually want to read - you have the ability to track
interaction and discover who is looking at what.
So, to make the most of your digital marketing, you must know the
type of content that works best. I’ll cover that topic in my next
and last post in this series.