Asset managers face a pressing challenge: how to effectively connect with the right fund selectors.
Recent insights have revealed a scary trend: One in six asset managers will disappear by 2027. PwC reports that asset managers are struggling to compete amid challenges of digital transformation, shifting investor expectations, consolidation and “retailisation.”
The average wealth manager currently collaborates with eight or fewer asset managers, a number that’s likely to dwindle further as consolidation continues.
Here’s a pathway to make you part of the five in six who’ll survive — and even thrive.
Many asset managers limit their potential by focusing their growth efforts on a static list of accounts based on geography, assets under management (AUM), number of advisors, or channels.
The problem with this approach is that it lacks insight into which fund selectors are actively in-market. With innovative strategies and technologies, you can uncover accounts that are searching for options, and prioritize outreach accordingly.
Revealing The Best Accounts for Outreach
Many of the best opportunities are obfuscated. For fund selectors, this often involves conducting comprehensive online research while maintaining anonymity. These activities encompass a range of actions, like:
- Researching related topics
- Visiting vendor websites
- Engaging with industry publications
By using AI-powered algorithms to decode online activity, asset managers can uncover hidden patterns of engagement that identify in-market accounts. This allows asset managers to take a targeted approach to client acquisition, offering personalized experiences and engaging with potential clients in a more meaningful way.
This means that instead of relying on traditional, blanket advertising, you can pinpoint specific accounts that have already demonstrated an interest and focus your marketing efforts on the accounts you’re most likely to win.
Transforming Anonymity into Actionable Insights
Knowing which accounts are looking to make a decision is a big advantage. Knowing the topics they are researching — and the concerns driving their decision making — gives you an even bigger edge.
Rather than casting a wide net and relying on luck or chance (not to mention pestering accounts that aren’t in the market for active funds), 6sense enables you to narrow your approach. You can target your outreach to accounts that have already expressed some level of interest. And you can shape your ads, emails, and conversations to the topics you know individual accounts are focused on.
Harnessing the Power of Predictive Analytics
Predictive analytics helps asset managers win more deals by better understanding clients and their needs. By analyzing past customer behavior and data points, predictive analytics can recommend strategies likely to work best with each prospect.
6sense uses predictive analytics to analyze past data on deals, including:
- Asset flows
- Typical titles
- Types of advisors and fund selectors
- Activities taken before opening a new account
This enables you to predict how close a fund selector is to adding or replacing an asset manager on their platform. This insight enables you to prioritize accounts more effectively.
Predictive analytics also help navigate how — and when — to target prospective clients. Fund selectors who are early in their research likely want information about your offerings — not a sales pitch. Understanding the most effective form of outreach can help you guide their research journey, and earn trust. 6sense analysis of research signals will reveal when accounts are nearing the consideration stage of their journey, and alert you that it’s time for direct outreach.
Unlocking Growth Opportunities
To stay competitive and avoid seeing their jobs disappear, asset managers need to correctly identify fund selectors that are in the market for active fund management — then prioritize their efforts accordingly.
By using 6sense’s AI-powered algorithms and predictive analytics, you can build a refined, targeted engagement strategy that resonates with in-market accounts.
