The reasons for leveraging digital marketing tools to introduce and support a firm’s robo-advisor offering are twofold. First, it stands to reason that individuals who would be interested in an automated financial management platform are likely more digitally savvy and therefore easier to reach utilizing these tools. Secondly, one of the appeals to an investor of a robo-advisor offering is the lower costs associated with these services, which can range between free and 25 basis points. Therefore, firms must find low-cost ways to attract and service clients that opt for the firm’s automated financial management offering.
As noted management guru Peter Drucker once said, “Efficiency is doing things right, effectiveness the right things.”
Cliff Campeau is a partner with Evolutionize LLC and a regular blogger on financial services marketing best practices. Evolutionize specializes in providing independent financial services firms with a suite of proven practice development solutions, including website development, inbound and outbound marketing tools and compliant social media marketing program support. Campeau can be reached at [email protected].