The problem isn’t technology — it’s people. This is the conclusion in a recent blog post from the MIT Sloan Management Review that articulated problems presented by digital disruption. In summary, “technology changes faster than individuals can adopt it, individuals adapt more quickly to that change than organizations can, and organizations adjust more quickly than legal and societal institutions can.” The author refers to the chart above from Deloitte’s 2017 Human Capital Trends Study, to support the point.
Odds are you’ve found this to be true in your own firm. You’ve probably felt stifled at times by legacy systems at work that seem light years behind your iPad or smartphone. And guess what? Your clients notice it too.
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We think those embracing digital disruption are going to separate themselves from their contemporaries as it relates to raising assets. It is therefore imperative for investment managers to view digital disruption as an organizational problem, not a technical one. The industry’s Goliaths, like Goldman or BlackRock, and Davids, like those of Silicon Valley, have necessitated that the rest prioritize leadership development to avoid stifling innovation.
Our next webinar, What Does a Data-Driven Campaign Look Like?, will share insight on how to apply data to each facet of a marketing campaign. This topic is important because differentiation matters more now than ever, as products and services have grown increasingly commoditized. What remains for investment managers is to differentiate their own user experience in order to demonstrate relative superiority. Application of data will be the driving force to execute this.
You will walk away from our webinar with an intimate understanding of how data can be used to improve relationships with prospects and clients. We will also provide a blueprint that can make digital disruption a competitive advantage, not something to be afraid of.
Key topics include:
- Identifying the macro trends necessitating a data-driven approach
- Applying data to each aspect of a campaign: develop, distribute, measure, learn
- Connecting marketing and sales to facilitate client acquisition