The future of marketing and regulatory communications

A survey of leading asset managers

Asset management marketing and regulatory communications teams operate in an intense, fast-paced environment.

You need to drive big ideas for sales and marketing—and master the smallest details in your regulatory communications. You're constantly asked to do more with less. You coordinate internal and external partners, leverage complex technology, manage vast amounts of content and efficiently delegate tasks across multiple teams.

HOW DO YOU MAKE EVERYTHING WORK?

We surveyed asset managers to find out what they do today and what they plan to do in the future. Our research found that asset managers employ a wide variety of practices. Some rely on outside resources more than others. And cost isn't always the deciding factor when it comes to innovation.

Find out how you stack up to your peers—and see where the industry is headed next.

On behalf of Broadridge, Naissance conducted a survey of 27 leading asset managers at firms with $25+ billion in AUM, revealing:

• How asset managers create and distribute communications such as fact sheets, pitch books, product brochures, prospectuses and fund reports
• The extent to which they rely on outside resources
• Top priorities for execution
• Plans for future innovation

Note: This survey was administered prior to the onset of the coronavirus COVID-19 pandemic in North America.

DIY OR REACH OUTSIDE?

Asset managers use both in-house and outside resources to create and update marketing and regulatory communications. Expect to see more asset managers migrate to outside resources for help creating sales and marketing materials.

SALES AND MARKETING MATERIALS

Today, only 30% use outside resources to create materials.

CURRENT

• 70% — We primarily use our employees to manage this process
• 30% — We use both in-house and third-party resources

FUTURE

• 85% — Increasing reliance on managed services and/or software licensing
• 15% — It will stay the same

REGULATORY MATERIALS

Most respondents do not expect to change their approach to creating materials.

CURRENT

• 35% — We primarily use a managed service approach, relying on third-party resources
• 46% — We use both in-house and third-party resources
• 19% — We primarily use our employees to manage this process

FUTURE

• 31% — Increasing reliance on managed services and/or software licensing
• 69% — It will stay the same

Looking ahead, 85 percent of firms see increasing reliance on managed services and software for their marketing materials.

INTO THE CLOUD

More than two-thirds of firms say sales enablement software is extremely important for help with digital distribution of sales and marketing material.

Asset managers anticipate significantly greater reliance on sales enablement software in the future.

IMPORTANCE OF RESOURCES

Digital

• Internal (or homegrown) technology software — 3.36 AVG.
• Basic desktop e-mail software (e.g., Microsoft Outlook) — 3.68 AVG.
• Third-party sales enablement software — 4.58 AVG.

FUTURE

• 84% — Increasing reliance on software licensing
• 16% — It will stay the same

PRINT FULFILLMENT

More than half of firms say they primarily use outside resources to execute print and fulfillment of physical sales and marketing materials.

CURRENT

• 56% — We primarily use a managed service approach, relying on third-party resources
• 44% — We primarily use our employees to manage this process

Similarly, the majority use cloud-based software to help manage physical sales and marketing materials. Almost half expect reliance on outside resources to increase in the future.

CURRENT (Ordering Technology)

• 44% — We rely on both internal and third-party technology and software
• 36% — We use internal (or homegrown) ordering technology or software
• 20% — We license third-party ordering technology or software

FUTURE

• 56% — It will stay the same
• 44% — Increasing reliance on managed services and/or software licensing

SETTING PRIORITIES

For all communications, asset managers agree that accuracy and speed are top priorities, while lowering costs remains a key consideration.

IMPORTANCE TO IMPROVING THE APPROACH

Content Creation

Sales and Marketing

• Lowering costs — 3.63 AVG.
• Improving speed/efficiency of execution — 4.59 AVG.
• Ensuring high quality execution/content accuracy — 4.81 AVG.
• Integrating composition systems into other marketing technology — 3.93 AVG.

Regulatory

• Lowering costs — 3.52 AVG.
• Improving speed/efficiency of execution — 3.92 AVG.
• Ensuring high quality execution/content accuracy — 4.81 AVG.
• Integrating composition systems into other marketing technology — 3.08 AVG.

Content Distribution

Digital

• Lowering costs — 3.40 AVG.
• Improving speed/efficiency of execution — 4.40 AVG.
• Ensuring high quality execution/content accuracy — 4.76 AVG.
• Integrating distribution systems into other marketing technology — 4.56 AVG.

Print

• Lowering costs via print-on-demand — 3.64 AVG.
• Improving speed/efficiency of execution — 4.12 AVG.
• Ensuring high quality of execution — 4.56 AVG.
• Lowering costs via move to digital distribution (e-mail, social, etc.) — 3.76 AVG.

TOP PRIORITY: LEVERAGING DIGITAL RESOURCES

Interviews with participants revealed that leveraging digital resources, including automation and distribution, is a top initiative for the future. The interview responses validate our survey findings. Leaders recognize that digital tools can help maximize both speed and accuracy across critical workflows.

WHAT IS THE MOST IMPORTANT TECHNOLOGY INITIATIVE YOUR FIRM WILL UNDERTAKE TO IMPROVE ITS MARKETING EFFORTS IN 2020?

• "...Implementation of third-party web applications to improve user experience..."
• "...Rolling out a digital distribution tool for marketing and regulatory materials..."
• "...Onboarding a content automation platform..."

WHAT'S NEXT?

Respondents anticipate they'll pursue innovation to create and distribute sales and marketing material more than in other areas.

ANTICIPATION OF ADDING/CHANGING OUTSIDE RESOURCES

• 72% — Digital distribution of sales and marketing materials
• 68% — Composition/updates of sales and marketing materials
• 36% — Physical distribution of sales and marketing materials
• 20% — Composition/updates of regulatory materials
• 16% — None of the above

Every respondent said analytics and digital marketing are "very" or "extremely" important trends for their business.

IMPORTANCE OF TRENDS

• Analytics — 4.84 AVG.
• Artificial intelligence — 3.28 AVG.
• Cloud-based solutions — 4.28 AVG.
• Digital marketing — 4.84 AVG.

MORE THAN TECHNOLOGY

Many participants said data issues and limited resources are the top roadblocks that prevent them from making change.

Asset managers recognize that technology alone doesn't always address underlying challenges. Without the right data and support, firms can't maximize the value of their technology investments.

"There are too many upstream inefficiencies that require marketing to spend a lot of effort with data and execution type functions, rather than focusing on the customer."

Innovation using an integrated approach

Fast-changing markets, products and regulations are increasing the gap from where you are to where you need to be. You can't accelerate quality output with inefficient workflows and yesterday's technology.

To confidently navigate this environment, you need to tap into a wider network of technology and expertise. True innovation requires thinking beyond tech builds and software.

At Broadridge, we recognize that complex problems require integrated solutions. That's why we bring together people, strategy, data and technology to transform the way you execute communications. Our approach uses The ABCDs of Innovation®, enabling you to harness digital analytics and cloud-based technologies to exceed expectations and stand out in a crowded market.

MARKETING AND REGULATORY COMMUNICATIONS

Content composition and distribution process:

MANAGE CONTENT >>> COMPOSE OUTPUT >>> DISTRIBUTE AND MEASURE

About The ABCDs of Innovation

Broadridge helps clients understand and apply next-gen technologies by simplifying the complex to help them be Ready for Next. We call this The ABCDs of Innovation.

The ABCDs of Innovation includes a focus on AI, blockchain, the Cloud and digital—as well as the underlying data and analytics that makes them more powerful.

For more information on The ABCDs of Innovation, please visit: broadridge.com/ABCDs