So Many Channels – So Little Time

By: Deb Well
PAICR Board of Directors member
PAICR Member since 2006

In the beginning, there were three: Facebook, Twitter, and LinkedIn. You had to decide which of these channels made sense for your firm, work with Compliance to form a process everyone was comfortable with, and then move forward. All was good.

But now we also have Instagram, Pinterest, Snapchat, YouTube, and different permutations of the existing platforms: Facebook Live, Instagram Stories … and the list continues to expand! That’s made the decision of where and how to distribute your content more complex – in addition to the burden of maintaining active feeds in all of these channels.

Maybe you think you don’t need to consider going beyond the basics. But if you don’t consider it now, you risk being left behind. Video and visual assets are dominating online marketing. You need to have a visual content strategy and consider distributing your content via the channels where visual plays best.

Here are three quick tips to effectively expand your social reach and help you successfully expand beyond the basics:

Every Picture Tells a Story

If you have been involved in marketing on Facebook, Twitter, or LinkedIn, I am sure you are familiar with the stats on how posts that include visuals – pictures, video, or even emoji – get higher engagement stats. One such stat shows that Tweets with images earned up to 18% more clicks, 89 % more favorites, and 150% more retweets.

If you are already using visuals on these main platforms, is it such a stretch to think of how you could leverage them on Instagram or Pinterest? Or that video content on YouTube or Vimeo? As stated in a previous post, you have 8 seconds to get the average person’s attention. Today’s fastest-growing channels are visual based. Estimates are that 84% of communication will be visual by 2018. So you need to act now!

One Size Doesn’t Fit All

How annoyed do you get when you see a text-only tweet that is just a link to an Instagram post? Plenty of sites allow you to post to other sites at the same time. So, when I post the cute pic of my cat, Buttons, to Instagram, I have the option to post it to Facebook, Twitter, and Tumblr. However, just because you can doesn’t mean you should. Messages should be customized to take advantage of what works and resonates on a platform. It is fine that your posts in all these different places may ultimately lead to the same source content. After all, these platforms, and those who you reach on them, often represent widely different audiences. That’s why your message should be tweaked to fit the specific audience you are addressing.

Failing to Plan is Planning to Fail

While some of your content is going to be more “spontaneous” – something big happens and you need to respond in the moment – most of your content strategy should be planned out. That doesn’t mean a plan that’s “set in stone.” Your strategy needs to evolve to reflect data and analytics on which content is succeeding and where. That’s why you really should be using a social media management tool or a social media aggregator. Whether that is Hootsuite, Buffer, or any of the numerous others out there, these tools can help you:

  • Queue up content ahead of time
  • Provide analytics on what is succeeding (and what isn’t),
  • View interactions
  • Find relevant related content to share, and
  • Adjust your sharing and strategy based on insights you’ve gleaned

The Tenets of Success

Build. Measure. Learn. Repeat.

Start small. Test concepts. Don’t be afraid to fail, and don’t be complacent.

These are the keys to an effective and efficient plan to improve your social media reach. The ways in which you effectively communicate with your audience is rapidly changing. You don’t want to be left behind.

Technology Isn’t Process: How to Make Expensive Systems Work

By: Kyle Purcell
President of Purcell Communications
PAICR Gold Sponsor
www.purcellcom.com/

We see it all the time: clients battling the technologies that were meant to solve day-to-day communications headaches.

At the recent PAICR RFP conference, I shared a panel with Kent Jones, Director of Process Excellence at a Fortune 500 company. His insight was simple yet powerful. For better results, focus first on your work process—the human activities that drive the work.

“Process involves people, and people involve behaviors,” Kent says. “If you haven’t addressed behaviors that result in waste or duplication, then you may just be automating waste and duplication by adding technology.”

I couldn’t agree with this more. Coordinating automations and content management systems is a big part of our client engagements and in almost all cases, success or failure depends entirely on the people involved.

Kent had 3 great tips for people looking at implementing a new technology.

  • Your challenges are unique: Understand what works in your culture and solve for what doesn’t. Don’t assume an expensive or flashy new system will help.
  • Process starts with people: Clarify roles, set clear and measurable outcomes for each person at every level, and foster greater inter- and intra-team communication.
  • Seek good ideas from all levels: The knowledge you need already resides in the minds of your team. Having a good process can unlock that experience in a way that a costly technology may not be able to.

We share Kent’s belief that technology isn’t always the answer, and we have our own ideas on how to implement it. Technology doesn’t make a broken process function any better, whereas good process will always make a technology more effective. A well-defined, consistent process with buy-in from everyone is the first and last step in producing good work outcomes.

Purcell logo

Contact:  Derek Napoli, Director of Business Development – (240) 452-5200

Migrating to Salesforce

By: Deb Well
PAICR Board of Directors member
PAICR Member since 2006

Salesforce seems to have been slowly taking over asset management (and the world for that matter) as the CRM of choice. If you aren’t currently using it—chances are you already went through a project where you considered using it—or are going through such due diligence now. Here are some important factors to consider that also apply even if your firm is already using it.

Lightning vs. Classic

Chances are if you are a current user, you are probably still using Classic Salesforce. Even though the latest incarnation of Salesforce—the Lightning experience—debuted back in 2015, many firms are still using Classic. Part of the reason of course is that it is hard to motivate a Sales Team that loves it “as is” to change. But equally as important is that when Salesforce rolled out Lightning, it didn’t have all the same functionality built in yet. Salesforce upgrades its software three times a year and yet, for instance, until the Spring 2017 version you still needed to hop over to Classic to merge duplicate contacts or accounts. If you are just now converting, you should go to Lightning straight out. If you are still on Classic—be sure to keep checking the releases to pick an optimal time to convert.

Build after, not before

How many times have you done a customization to your CRM … spent tons of time and money in development … only to see it go under-utilized once you roll it out? Quite often it is because the actual users are not driving the changes. One of the upsides to Salesforce is that a lot of potential customization is relatively quick and easy to execute and deploy—a benefit of the so-called “code-less customization environment”. Rather than asking users up front what they want to have, consider rolling out with the basics and have your users “test drive” for a few months. Actively using the product—especially in multiple environments (browser and mobile app)—will help highlight actual pain points for your users and hence where customization would make their lives easier. This way you can spend time developing things your users actually want as opposed to things people think they want.

There really is an app for that

A mapping tool? An email marketing tool? A tool to make mass updates to your data? Yes—there is an app for that. In fact, multiple apps! One important thing to understand is that Salesforce is not just a CRM. Much like Apple with iOS, Salesforce has become a platform. There are many developers out there creating solutions and offering them through the App Exchange. Most of the major software players in our industry have worked up integration solutions with Salesforce. So, before you decide to do internal development for any solution, first take a look at what might be offered on the App Exchange that might fit. It could be cheaper (or even free) than building something yourself.

It’s all about adoption

Why do most CRM solutions fail? Because of lack of end-user adoption. The upside of Salesforce is that it’s not only generally pretty easy to use, but the platform understands that adoption is key to successful implementation and so it has built tools to help solve the adoption issue. There are webinars and even an app specifically for Salesforce administration designed to help those on the support side keep on top of user engagement. You can see if your users are logging in—or not. If they have an issue, you can log in under their ID to see what they are seeing. Salesforce encourages spending time checking in and even sitting with users so that admins can see where there might be issues or places where the admin can give the users tips to be more efficient. Salesforce promotes better understanding of usage so that you can create better solutions for your end users. And they have an entire site—Trailhead—devoted to educating Admins, Developers and Business Users, which is free to use even if you aren’t a Salesforce customer.

Is Salesforce perfect? No. There is no CRM tool that is perfect. In fact, in terms of structure, they do some things that will look very different to many seasoned DBAs. But it is currently the largest player in our industry. However, you shouldn’t be using Salesforce because of this fact. (For those of you who have been around long enough to remember the industry dominance of the Siebel CRM, you will understand the caution here). That being said,- given the integration options it offers with many of the industry’s other vendors, the wide array of apps available for enhancements, and its mobile options, it makes sense to review it as a possible option, with the above tips in mind.