Before we get into the 5150 Process, we wrote an Ultimate Guide to Digital Transformation if you would like to learn more in depth on the topic itself.
Digital transformation is taking the world by storm in more industries than one and the financial services industry is no different. Where larger firms and enterprises have always had a distinct advantage over smaller to medium-sized firms, the adoption of digital processes serves to level the playing field, allowing for more competitive strengths within the industry.
The first step toward digital transformation is understanding not only what it means to digitally transform but how it can be applied to your business process. Digital transformation is defined as the incorporation of technology into the business process to change operation and the provision of value to customers and clients. In an age where technology is on the rise and data-driven processes are taking over, the why for digital transformation can be answered simply … survival.
The digital transformation process, while necessary and beneficial, can be overwhelming and offers its own set of challenges. Therefore, it is important to figure out the scope of transformation necessary for your business and the most effective way to achieve said transformation. For this reason, many businesses outsource their digital adoption needs to firms with advanced capabilities and experience within the field.
Futurum’s 2018 Digital Transformation Index reported that 40% of companies had built a team strictly dedicated to digital transformation. The other 60% confirmed that they were committed to outsourcing.
5150 Digital Marketing Group assists companies in circumventing many of the technological challenges and expenses that might arise by offering an integrated platform as a service (IPaaS), otherwise known as our Digital Bridge.
Many steps with specific intricacies contribute to this one-stop-shop solution, this is our process:
We consolidate and organize existing data into “best customer” groups
The search for ideal clients begins by aggregating current and former client data into a unified, central database. This process includes combining, cleansing, and restructuring client profiles into segmented audience groups. This process profiles who a firm’s best customers are, who they are not, and where undiscovered opportunities exist.
We dive deep to uncover the details of each segmented group
These customer groupings are enhanced using client conversations, interactions, and surveys taken from members selected from each group. These enhanced profiles provide granular details and relevant insights into future investors.
We develop personas from best and worst customer archetypes
Personas are generated from the enhanced profiles. Psychographic details, behavioral insights, and predicted personalities are added to each persona using artificial intelligence (ai) and predictive analytics. These proprietary personas allow marketers to a) personalize marketing and communications to the communication styles and channel preferences of each persona, b) develop personalized, stage-specific content, and c) identify new prospects and networks with look-alike data.
We create persona specific sales, marketing, and services playbooks
Persona specific playbooks are created to establish marketing communications, conversion, and service advocacy strategies. Playbooks include communication recommendations, channel preferences, unique needs, and individual service expectations. AI provides personality-specific, decision-making insights to uncover stage-specific intent, potential biases, and behavioral insights.
We identify and curate multi-channel, stage-specific content
Identify and curate intent specific content to connect and influence prospects and clients through each stage of the investor journey (awareness, research, consideration, conversion, and advocacy). Organized content is available for quick access, compliance approval, and multi-channel repurposing.
We design and manage multi-channel, stage-specific content marketing
Design and execution of persona specific marketing campaigns. Multi-channel strategies and tactics, created using stage-specific content, are rolled out for each persona.
We scale campaigns and communications through automation
Automation allows marketers to identify, connect, and influence prospects at a scale with highly personalized marketing and communications. Automation provides 24/7 responsiveness, delivering information and services when and how the client desires. This “always-on” philosophy enhances and increases investor engagement throughout each stage of the investor journey.
We provide teams a shared, 360° event-driven view of prospects and clients
Utilizing a shared customer view, a synced CRM populated throughout the customer journey provides sales, marketing, and service teams with a 360° client view. This customer-centric approach improves prospect conversion, creates clear and consistent communications, and increases customer engagement and retention.
We employ AI to analyze and modify campaigns and tactics in real-time
Collecting and analyzing results from managers and campaigns create a continually improving marketing and communications platform. Data-driven insights provide the fuel to a perpetually improving marketing engine.
We ease the process with dedicated support teams
Dedicated support teams ease digital implementation, providing a guided path to data-driven marketing and communications.