MFEA

MFEA and Chicago

5 Biggest Topics from Marketers at MFEA

Posted by Anu Heda on Dec 04, 2016, in Thoughts , tagged with

In late October, I attended the Mutual Fund Education Alliance (MFEA) Annual Marketing Council event (Nothing better than Chicago during the Cubs run towards greatness). Over a month later, five topics have remained in my mind. If you have thoughts or questions on them, please let us know. We’d love to discuss them.

Topic 1 – DOL regulatory changes – This topic seemed most prominent as all marketers I spoke with mentioned thinking about how marketing will change as many advisors change their business models. Many discussed an inclination to begin 2017 with a renewed investment in Marketing towards platform creators and home offices in lieu of efforts in the field. Others were contemplating value-add programs as advisors become responsible for the “best interests” of clients. Nobody is taking an ostrich approach.

Topic 2 – Behavioral finance continues to mystify – Through the best-selling efforts of Dan Ariely, Richard Thaler, and the Freakonomics team, behavioral economics has become increasingly mainstream. Many were familiar with the concepts discussed during an engaging presentation by Stephen Wendel. Yet, maybe 2 – 3 attendees had any plans to use the concepts in their Marketing plans. Everyone else found the topics and accompanying anecdotes simply amusing.

Topic 3 – Measurement – This is a tough one for me to observe. We’ve discussed Marketing measurement for over a decade with no de rigeur KPIs rising to the surface. One firm may resign itself to measuring client digital activity, while another uses sophisticated longitudinal brand surveys. This one seems to be a function of budget and senior management’s mandate.

Topic 4 – Customer journey mapping – A technique long used by marketers to connect information across siloes by gaining a comprehensive view of the complete journey across communication channels has come to asset management. Presentations by Lazard Asset Management and OppenheimerFunds were received with a lot of nodding heads, note-taking and practical questions. Afterwards, I received multiple questions on the nuances of creating a journey map, leading me to believe many organizations are beyond the “should we?” and are now at the “how?” step.

Topic 5 – Technology – Seemingly everyone has invested in automation software from companies such as Marketo and Eloqua.  Attendees noted paying prices and experiencing highly different implementation timeframes from one another, for the same software.

Overall, MFEA events are very worthwhile. If you have not attended, consider the events forthcoming in 2017.

MFEA Content Marketing – 5 Quick Tidbits

Posted by Anu Heda on Jul 05, 2014, in Thoughts , tagged with

During a humid June week in Kansas City (aren’t they all?), the MFEA convened a group of marketers from across the industry. I moderated a panel on content marketing and thought to share 5 points. We were fortunate to have three excellent panelists from Aberdeen Asset Management, American Century Investments, & RidgeWorth Investments.

  1. There’s not a unified definition for content marketing. Some associate the term with content-centric campaigns leading meant to increase Web site (or microsite) usage. Other firms define content marketing by building a content library to market (the firm) from.
  2. Everyone seemed to agree that infrequent high-quality content is better than the reverse.
  3. Most firms are investing or considering marketing automation software to simplify dissemination.
  4. All firms are modifying their content processes to account for the clear demand (by FAs) for brief content.
  5. Measurement continues to be nebulous. Metrics discussed went from Web traffic to lead generation even to asset growth.

The Rise of Digital Fracture

Posted by Mike McLaughlin on Mar 05, 2013, in Thoughts , tagged with , , , ,

Florida in February, 100+ attendees, and a series of truly interesting sessions – needless to say, we were fortunate to be part of the MFEA’s Distribution Technology Summit last week.

Our opening presentation introduced the concept of Digital Fracture. What is that? We’ll go into more detail in posts over the course of March, but for now we’ll let this quick synopsis we delivered after our session set the table:

DTS – Mike McLaughlin from FundchatS.

For a complete summary of the day’s events and perspectives on everything from predictive analytics to mobile-supported wholesaling, check out the MFEA site.

 

A Reminder of What Technology Can Do

Posted by Mike McLaughlin on Mar 22, 2012, in Thoughts , tagged with , , ,

A few weeks back, we presented at the MFEA Distribution Technology Summit in Tampa. Much of the discussion focused on the impact of mobile – Web sites, apps, CRM, advertising – on both asset managers and financial advisors. We’re biased, but it was a good day.

The last session was a panel of sales executives. Among the many issues the panel touched on was the idea of adoption – how much are advisors and wholesalers actively using mobile technology?

The sales executives provided a valuable reminder – there is a non-trivial subset of  advisors and wholesalers who will NOT embrace mobile. While technology can bolster execution and add a positive dynamic to relationships with advisors, it is not essential for everyone.

The reality is:

  • Many wholesalers and advisors have been successful for a very long time before mobile became important
  • Some wholesalers and advisors will always be inclined to avoid new technology

Image via Kevin Knight

It reminded me of a project we did a few years ago. We spent 20 days in the field with some of the most successful insurance producers in the country. As it turned out, two of these producers were complete technophobes. When I say complete, I mean they:

  • Did not have a computer or laptop in their offices
  • Did not carry a smartphone
  • Spent exactly zero minutes per day surfing the Web and using e-mail

And yet, both were HUGELY successful by any measure. In fact, these guys are in the top 0.2% of producers in terms of overall production. Similarly, some of the best wholesalers in the industry rely on zero cutting-edge technology. The MFEA panel discussion reminded me of this.

Technology in and of itself is not a solution, but part of a suite of resources that can make doing business easier. We need to avoid thinking that technology is universally transformational, that more of it is always going to help everyone.

Our collective excitement at the opportunities presented by technology needs to be coupled with an equal dose of pragmatism.