driving up digital spend as fund marketing budgets stay flat
DESCRIPTION
According to stats from Ignites Distribution Research, 57% of fund firms report that their retail marketing budgets have remained flat year on year. With margin compression continuing to present an industry-wide challenge, controlling costs is an absolute priority. Yet beneath the tales of flat or decreasing investment in marketing, one stream of activity is in great health.TRANSCRIPT
Driving up digital spend as fundmarketing budgets stay flat
57% of fund firms say that their 2013 retail marketing budgets have remained flat year on year*
*Ignites Distribution Researchhttp://distribution.ignites.com/report/section/557801/62581
So despite cost challenges, most fund marketing budgets remain intact
Compared to 2012:
14% of firms increased budgets by up to 10%
21% of firms increased spend by 20% or more*
*Ignites Distribution Research
In 2013, digital marketing accounted for 30% of total marketing spend.
Next year, it’s expected to rise to 35%*
*Ignites Distribution Research
71% of fund marketers say their #1 priority is integrating data across the enterprise*
*Ignites Distribution Research
*Ignites Distribution Research
But many firms lack the processes and tools required in an increasingly data-driven, digital world*
Small fund firms have the agility to quickly embed digital across everything they do
For larger firms, external partnershipsare the key to marketing agility
CMOs who are used to long waits for internal IT builds welcome the chance to partner with the right external provider
Can marketing affectthis kind of change?
YES(provided they have a seat at the table)
Where should marketing sit within the organization?
Where should marketing sit within the organization?
At 62% of fund firms, Marketing reports to the C-Suite
At 15% of fund firms, Marketing reports to Sales(an arrangement that has to change before client engagement can be placed at the heart of a value-creating strategy)*
*Ignites Distribution Research http://www.distribution.ignites.com/c/561341/63081
The CMO can morph into a CIO
The CMO can morph into a CIO
Information + data are at the heart of a fund marketing strategy that’s about overall business growth rather than simply delivering ad hoc tactical campaigns
Read the full post at kurtosys.com/blog