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How to Align Your CRM and Investor Engagement Strategies

Featured photo for the blog post: How to Align Your CRM and Investor Engagement Strategies

This post is the first in a larger series of MarTech-oriented content that the Nova team will be publishing over the next several months.

Revenue operations (RevOps) is becoming a common buzzword around sales and marketing communities, and for good reason. Regardless of industry, companies are looking to align sales, marketing, and customer success teams by building out Revenue Operations teams that build systems, processes, and reporting infrastructure— all with the goal of increasing revenue and reducing operational friction. For asset managers or fund administrators, a RevOps-oriented mindset can do wonders for a digital strategy, and this is where a well-rounded CRM strategy can make a massive impact. Whether an organization uses Salesforce, HubSpot, Zoho, Pipedrive, Dynamics, etc., there are a few critical areas of focus that can lead to asset managers building stronger, longer-lasting business relationships with their investors.

Integrations That Align with Investor Journeys

With the growth of low code (or no code) integration platform as a service (iPaaS) options (e.g., Zapier, Integromat, etc.), companies now have more ability than ever to fully integrate their technology stack. Additionally, software providers increasingly have robust API documentation that can turn what used to be a several month project into a several week project.

Most of the more popular CRM solutions have the ability to create custom objects in a CRM. If that term is unfamiliar, it’s essentially the ability to customize the structure of a CRM to align with an organization’s company or industry. For example, standard objects in a CRM may be contacts, companies, deals, and tickets, but for a Registered Investment Advisor, they may want different data hierarchy. For their business, they may want to group contacts to a household object, and therefore, they’d be able to create a household object and associate different contacts with that household. Establishing this business/object alignment is critical, because it is ultimately how you will decide which (if any) integrations are needed. Whether it’s an investor onboarding solution or a cloud phone solution that you want to be integrated with your CRM, understanding where and how that data should be organized is what will lead to successful outcomes.

Example: Using the scenario above where an asset manager integrates their phone system and investor onboarding tool with their CRM, they now have insight into which investors call in and speak to their investor relations team, notes from the call, date and time stamps, etc. At a glance, investor relations or investor success team members can look at engagement with the website, phone activity, opens on marketing emails, etc., and get a full-picture understanding of the engagement level that this customer has with the firm. Using this data, automated lead scoring can be set up to make this “churn” flagging even that much easier (e.g. visiting X page = 2 points, opening marketing emails = 1 point, support call with positive CSAT response = 1, support call with negative CSAT response = -1).

Other common integrations with CRM systems:

  • Cloud phone solutions
  • Sales and marketing email platforms
  • Video/webinar players
  • Payment systems
  • Calendars

Enabling Full Lifecycle Stage Automation

Full cycle investor engagement requires knowing where someone is in their specific journey, and providing that customer value with where they are, and ultimately where they are looking to go. As an example, with a CRM that’s integrated with an investor data room product, engagements with specific documents can trigger activities to appear on a contact record. Once this data is present in the CRM, it can trigger a series of downstream actions such as follow up pieces of content, consultations with an investor relations specialist, or information on what the next steps are for onboarding. By having access to this data room engagement data from within the CRM, it provides a source of truth that can fuel your sales and marketing activities.

Once an investor has made the decision to begin onboarding with an asset manager, knowing where that investor is in their journey is a top-tier way to reduce any possible friction before it begins. If an investor relations team sees that someone has been stuck at particular spot in their onboarding journey, they can proactively reach out. It’s this level of personalized engagement that lead to successful outcomes.

For years, the cost of acquiring new customers has increased for businesses across various industries, which amplifies the need for frictionless systems and elite customer engagement strategies. Here’s a scenario that walks through how an investor could be guided through their onboarding using a series of triggered emails based on their levels of engagement:

  • Prospect A visits the company blog and chooses to subscribe
  • Days later, prospect A begins onboarding using the guided solution on the website
  • Investor relations receives the notification that prospect A has started onboarding, but stalled out on one of the initial questions asking for an uploaded document
  • Prospect A is sent a short automated reminder email with additional information about how to upload documents, which document(s) are acceptable, and offering a guided onboarding experience with an investor relations representative over the phone
  • If prospect A still has not completed onboarding within 72 hours, they are sent an additional email reminder that contains additional background information about the asset manager’s success, a link to a recent blog post from the management team, etc. Additionally, an internal Slack notification is sent to the investor relations team with a task set in the CRM to call the prospect directly and offer assistance with onboarding

How to Align Your CRM and Investor Engagement Strategies

When thinking about the lifecycle stage of your target market, a helpful starting point is thinking about content or engagement tactics in awareness, consideration, or decision stages. Taking this approach can ensure you’re providing value to the prospect or customer with where they are in their specific journey.

  • Awareness: blog posts, guides, white papers, industry reports
  • Consideration: comparison guides, live webinars, pricing sheets
  • Decision: consultations, meetings, demos

Taking a Customer Success-First Approach

Customers or investors who feel engaged are more loyal, they become the best brand advocates, and the trickle down effect can be seen across an entire organization — reduced customer acquisition cost (CAC), higher customer satisfaction scores (CSAT), and higher lifetime customer value (LTV). Enabling your customer success team by providing them with a robust CRM filled with all of the critical engagement points can go a long way towards accomplishing this goal. In other words, a CRM can provide the narrative to an operations associate to know exactly what pain points a customer may be feeling, saving the customer time from having to explain themselves again. It’s these micro-personalization opportunities that can turn customers into evangelists and propel organizations for years to come.

Interested in discussing your CRM strategy and how it integrates with your MarTech stack? Reach out today to schedule a complementary 30-min consultation with a solutions architect.