It typically takes two to three years to establish an independent financial advisory business. That means the buying cycle for bringing new advisors into the Schwab Advisor Services network is a long one that requires a continual focus on engaging prospects and advisors with relevant content and visibility into where they are in the business lifecycle. In the past, the marketing team struggled with batch-and-blast email campaigns and a lack of insight into advisors’ needs at various lifecycle stages.
Since that time, marketing has undergone a major transformation that involved establishing Demand Generation expertise and implementing Marketo Engage to enable automation, personalization, and targeted content that helps new advisors get their businesses off the ground and current advisors run the back office efficiently and grow assets under management.
“We went from a very traditional marketing organization to a digital marketing team running an incredibly successful nine-touch nurture campaign,” says Lubawy. “The immediate result was $1.1 billion in asset value contributed to the sales pipeline and help in closing deals representing more than $100 million of net new assets for Schwab. I’m convinced our success is a direct result of driving buy-in for Marketo Engage across our organization. Twelve marketers across four Schwab teams and two external agencies worked together to develop our nurture campaign.”