After implementing a unified CRM system for both their institutional and intermediary businesses, Hotchkis & Wiley Capital Management sought to better leverage intelligence for more productive client meetings and targeted marketing campaigns. Their objectives were twofold:
- Enhance the Institutional sales experience: The company aimed to elevate the CRM experience for its leadership and institutional team by automating a daily integration of institutional flows, signals, and activities.
- Improve data quality: To enhance the quality of their client and prospect data, Hotchkis & Wiley collaborated with SalesPage on data governance best practices and leveraged SalesPage’s partnership with Discovery Data to enhance their selling effectiveness.
Automated integration of institutional data for a client 360-degree view
Hotchkis & Wiley’s initial goal was to automate the daily integration of transactions and monthly AUM data for their institutional business. This would be presented and consumed in a distinctly different manner than how their intermediary channel sales team was leveraging their data in the CRM. Having a single platform with visibility to both channels would contribute to a 360-degree view of their clients.
Mark McMahon, Managing Director, Marketing & Client Service commented on the process, “We took time to talk through the technical pieces of data management. Our systems team and SalesPage made sure everything was operating by design and we met our timeline goals.” This effort allowed them to access daily account transactions, flows, assets, and activities across all intermediary advisors and institutional accounts, enabling them to track essential sales and client service metrics conveniently through dashboards and reports.
Tom Hirschmann, Managing Director, Head of Distribution, emphasized the value of having all this data in one place, “When I log into our CRM, I have two views that I can flip between for intermediary and institutional. I can easily track the inflows and outflows, with a detailed breakdown by strategy and client. Having this information on a daily basis, my team is far better equipped to have productive meetings with clients, and I have better oversight.”
Before this initiative, crucial information was fragmented across different departments and systems, creating inefficiencies. Now, with streamlined information, they have deeper insight into their business, real-time updates for sales representatives, and no longer require last-minute efforts at the end of each month. Hirschmann acknowledged the importance of SalesPage’s partnership in this endeavor, likening them to an in-house sales enablement team.
Enhanced quality with data governance
Hotchkis & Wiley recognized the need to improve the quality of their data, which had become increasingly outdated due to limited staff resources. They collaborated with SalesPage to scrub and enhance their intermediary records, leveraging SalesPage’s data governance and resolution services. Additionally, they took advantage of SalesPage’s partnership with Discovery Data to enhance their CRM experience and sales effectiveness, carefully configuring fields and settings to avoid data clutter and duplicates.
John Salvatierra, Director, Applications & User Experience at SalesPage, highlighted the flexible and repeatable nature of this integration, enabling the incorporation of additional data sources as needed. “Not only are asset managers able to bring in specific subsets of data, but we can also easily configure the data points and have that information seamlessly update fields in their CRM. Additionally, Hotchkis & Wiley can easily add and configure any new data sources they’d like to subscribe to.”
Beyond enhancing the effectiveness of their Institutional and Intermediary sales team, this enhanced data quality and management solution also will enable more targeted and higher-performing marketing campaigns.
Key takeaways for Asset Managers
Key takeaways for asset managers with multiple distribution channels pursuing data-driven distribution:
- Activating Data: Integrating data from various sources is crucial for gaining a holistic client and prospect view, leading to improved sales, marketing, customer service, and efficiency.
- Data Quality: Ensuring data accuracy and timeliness is essential to making informed decisions and avoiding costly errors.
- Visibility and Accountability: Tracking key metrics and trends helps identify areas for distribution process improvement, resulting in enhanced performance and profitability.
Hotchkis & Wiley’s journey showcases how asset management firms of all sizes can leverage data to transform their distribution effectiveness. By investing in data integration, quality, and analytics, companies can enhance client experiences, boost sales, and reduce operational costs.
About Hotchkis & Wiley
Hotchkis & Wiley is a global investment manager serving institutional and individual investors. As disciplined value investors for over 40 years, they offer value equity strategies across the capitalization spectrum as well as expertise in high yield credit. As of September 2023, they managed 29 billion in assets.
About SalesPage
SalesPage Technologies provides data management solutions and services for asset managers, acting as our client’s partner in solving the challenges of consolidating, standardizing, and categorizing data to make it actionable for generating insights, driving sales and marketing decision-making, and growing revenue.
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