Integrating Marketing Strategies and Technology for Wealth Management Firm Growth: Bridging the Martech Divide

According to research, global spending on marketing technology (martech) is projected to reach $124 billion in 2024 and is expected to surpass $215 billion by 2027. Despite the significant growth in martech spending following the pandemic, the wealth management industry is still struggling to understand and fully integrate martech into their operations.

Marketing automation software and social listening tools are often grouped together with other IT functions and managed accordingly. However, many large RIAs have dedicated marketing departments focused on driving growth and revenue through effective marketing and communications strategies. The disconnect arises from the fact that these marketing functions often operate independently from the tech tools meant to support them. This separation can hinder marketers from fully utilizing the potential of martech to accelerate a firm’s growth. In order to fully capitalize on martech investments, wealth management firms need to bridge the gap between their marketing strategies and the technology that supports them. By integrating these functions more effectively, firms can unlock the full potential of martech to drive growth and revenue.