Marketing Wiz

When it comes to artificial intelligence, we take the 70/30 approach: we consider whether an A.I. can complete 70% of a task that we are asking “it” to do. If it can, then we explore whether we can build a workflow that allows the A.I. to get the project started while the talented people on our team spend more time on higher-value tasks within the workflow. We have yet to find an A.I. that can reliably complete 100% of any task we’ve given it, but we are seeing more and more platforms take over low-value steps so our team can focus more energy on the highest-value areas of our work with RIAs. In a recent article on our website, we shared more thoughts on how RIAs can implement A.I. within their workflows. Read the full article here: https://bit.ly/4bjOLdw

We will cut to the chase: some A.I. platforms are great, and some stink. Some are great at specific tasks, and others are terrible at that same task. We hear about artificial intelligence in the news like it is one “thing,” but it’s critical to understand that there are dozens of different A.I. platforms, each with their strengths and weaknesses. For example, an A.I. can be terrible at writing blog posts but excel at identifying concentration risk within an investment portfolio. Because of this, trying different A.I.s and testing their output against one another for specific tasks is essential. In a recent article on our website, we shared more thoughts on how RIAs can implement A.I. within their workflows. Read the full article here: https://bit.ly/3XdfZij

If an RIA wants to achieve a high level of data proficiency, it requires a deliberate and conscious effort. It demands a designated owner—be it an individual or a team—backed by an organizational commitment to data as a priority. This includes providing the necessary resources and time to ensure that data is not only accurate but also actionable. The outcomes of such an endeavor are multifaceted. For clients, it results in more relevant and personalized service, which increases satisfaction and loyalty—thereby raising their lifetime value to the firm. For the RIA, it aligns service models with client needs more effectively, thereby improving operational efficiency and margins. On the growth front, a robust data strategy enhances prospecting efforts, leading to more organic growth and a stronger new-client acquisition model. In a recent article on our website, we shared more thoughts on the value of building a data-centric advisory firm. Read the full article here: https://bit.ly/3V7Hvv1

The phrase “incentives matter” isn’t new to the RIAs that we work with. It’s why many of our clients left advisory environments with conflicts of interest and forged a new path in the independent RIA space. Incentives also matter when it comes to your firm’s growth objectives. And over the years, every high-growth firm that we’ve partnered with has clearly defined who the “business development” people are at their firm and incentivized those people appropriately. For us, this is one of the nine best practices we’ve identified across high performance teams, and you can read more about this in a recent blog post on our website: https://bit.ly/3VcnB3a

One of the challenges for RIA marketing teams is maintaining a consistent brand “voice” across a wide number of content creators. These content creators could be people on your marketing team, wealth advisors, financial planners, or outside partners like Marketing Wiz. The Brand Voice section of Hubspot’s new Content Hub allows you to 1) upload existing pieces of written content from your firm 2) analyze this content to define brand voice parameters and then 3) apply those parameters to your future work. In fact, you can upload content and click “apply brand voice” or use your brand voice parameters when creating AI-generated content. But it’s not perfect, and editing is required. We covered this innovative new approach to content creation in a recent blog post on our website: https://bit.ly/3UMK4CN

Out of all the features that are new to Hubspot’s Content Hub, Content Remix is probably the one that will make the most immediate impact for RIA marketing teams. Content Remix allows you to take a piece of content — like an event landing page — and “remix” the piece of content into other content in minutes: a social post, display ad, blog posts, or an email invitation to clients. Read the full blog post covering Content Remix on our website: https://bit.ly/4dzPmdt

Data is not just a resource; it is a cornerstone for understanding and serving investment clients. By starting with the acronym FORM—Family, Occupation, Recreation, Money—RIAs can tailor services and communications to each client’s unique life stage, interests, and financial goals. This starting point in segmentation enables advisors to connect with clients and prospects on a more personal level, ultimately shaping a service model that resonates with what clients value most. We shared more of this thinking in a recent article on our website: https://bit.ly/4b3smSc

What happens when your firm gets a new prospect or lead? If the first step and all the following steps aren’t clearly articulated, your team may be leaving business opportunities on the table. Over the last eight years, every high-performing RIA that we’ve worked with has a written sales process that is understood but everyone at the firm — from the leadership team to summer interns. In a recent article, we shared the other 9 “best practices” that separate high-performing teams from everyone else. https://bit.ly/3QweiZo

This is an important principle to keep in mind as we all work to reshape the way RIAs operate, serve their clients and improve organic growth.