4 Ways to Use Correspond For Your Investor Communication

We believe that technology is the most efficient way to provide a better investor experience. Correspond Investor Edition is an integrated investor communications and document distribution add­-on to AIM, the CRM for Private Capital Markets.

Bridge the gap between your CRM and investors with this communication solution. Correspond Investor Edition simplifies your email communications throughout the entire investor lifecycle with audit functionality and flexibility to track and send documents.

Here are 4 ways you can integrate Correspond into your workflow to increase investor satisfaction.

Share Private Placement Memorandums

Correspond Investor Edition makes it easy to share disclosure documents with potential investors.

Using report filters directly from your CRM data you are able to drill down and segment the correct contacts to send Private Placement Memorandums (PPMs) to any prospects.

Report-based filters give you the flexibility to segment your contacts and send a specific document to only the target audience. From there, make more informed decisions for deals and fundraising with the ability to analyze individual contact performance stats.

Generate Capital Calls

When it’s time to make a capital call, you need precision and accuracy. This often takes shape in extremely intricate and time-consuming data audits.  Even with a fund administrator, as the primary contact point for your investors, you want to send their communications directly from your CRM so you know it’s how they prefer to hear from you and you can track the receipt.

Correspond Investor Edition removes the tedious data review and allows you to easily generate personalized capital calls from premade templates and distribute them by email or securely through our portal, ShareSecure.

With the addition of Master Investor Contacts (MICs) you can set a standard group of Contacts for an Account. Use this master investor contact list to include all relevant contacts in specific communications for all of your funds.

Produce Distribution Notices

After sending a Capital Call you are ready to send out personalized distribution notices to each investor.

Seamless and accurate communication methods are core to Investor Edition. That’s why we’ve incorporated the ability for multiple audit steps throughout the batch process. Rest assured, information is split and shared correctly with these key features.

Send Tax Forms

Reduce time spent on tax documents like annual K1s with Correspond Investor Edition. Easily share earnings, losses, deductions, and credits with each stakeholder.

The information is accurate and stored securely within your CRM so you have an audit trail of all tax documents you’ve shared with stakeholders.

Since Correspond Investor Edition launched in 2014, we’ve learned a lot from our users. In the 2020 upgrade, we’ve incorporated requests and feedback and moved the product onto Salesforce’s latest technology, the Lightning Experience.

We continue to improve our products to create technology that supports Private Capital Markets. Reduce the time spent on mundane tasks and focus on building relationships and creating a great investor experience.

Correspond’s new interface comes along with a host of great features and a better user experience. To learn more, visit  Correspond Investor Edition product page.

A traditional crm was built for general ‘customer’ scenarios

Software platforms have made the world a better place by making work a better place. Indeed the world is better off when people enjoy their jobs even marginally more, and workplace applications on big CRM platforms like Salesforce.com have done that and much more.

But the potential that platforms like these offer presents diminishing returns: once the platform provider has engineered too many industry specific components into its platform, its usefulness for other industries begins to be threatened, and with that so do the usefulness of the component tools built into the platform.

So it is with the CRM category that Salesforce.com has defined: it is generic enough to work for many industries, and yet still offers the potential for others to round off the edges and nail more vertically-oriented and extremely tailored software solutions.

Private capital markets are actually a great demonstration of this dynamic. Where generic CRM platforms simplify — appropriately so — to assume there’s a business, a customer, a sale, and service of that customer, there are a few industry-specific pieces that are missing.

Take for example, that investors become customers by investing through legal entities the GP raises. It’s a subtle but important nuance that just doesn’t make sense at a platform-as-a-service level (because it’s overly complicated for a simple one-time sale that many industries require), but which can easily be added without 10 years or software engineering. Once provided, the rest of the platform’s components become tremendously powerful again and you’re set to take over the world.

As a traditional CRM in our pillars methodology, these nuances must be present to properly account for investors in these legal entities, potential target companies and which are owned by these entities, the context of all interactions with these parties (as well as the appropriate overlap, ie co-investments), and how you’re arriving at finding these opportunities on both sides of the equation, such that you’re able to piece together what’s effective and what’s not. Not just because we say so, but because these are the very relationships and data that are key to the motivation behind a CRM in any industry.

It’s critical, too, that the valuable publicly-available information that helps to enrich CRM systems and save users painful steps of entering it themselves is fully-integrated at the platform level.

Again, look no further than the 3,000+ pre-built integrations that Salesforce.com — the creator of the CRM platform concept — has at a platform level to do so, and which only exists by way of holding just short of overly-specifying certain industry workflows that would present challenges to properly integrate.

Stakeholder reporting and communication (investor relations) draws on a range of datasets

The traditional “customer service” model of CRM systems once again makes overly-simplified assumptions about the customer relationship when applied to private capital markets.

In fifteen years I personally have yet to hear the terms “warranty” or “service call” in this market because it’s just not the same. But make no mistake, as uncomfortable as it may be to say aloud, customer service is more important now than ever and it’s constantly happening; the industry is, after all, considered to be a financial “service”.

As it turns out, that service is primarily information-based — it’s driven by data and takes the form of reports and analysis that drive decisions, and then end up again in investor-facing reports and analysis.

The foundational elements of a private capital markets CRM must be built such that they accommodate this data (like we discussed above), but so too that it can accommodate additional supporting data that investors (customers!) need in the context of service.

Oftentimes this supporting data — financial metrics and time-based values, for example — is believed not to meet the traditional definition of CRM and the natural thought is “well, better do this in Excel!”.

While I happen to believe Excel is still the greatest software application ever built, its introduction to this value chain we’ve discussed herein actually creates the problem many firms suffer from: key data needed to provide customer service (again: effectively the entirety of a firm’s reports and analysis) is now in disparate systems and detached.

Both of those dynamics are important and distinct: not only is this supplemental data disparate, but when brought together there is no logical association that can be made between the two data sets.

Allow me, then, to make the point very simply: not only can this financial and time-based value data (you may be thinking about is as “portfolio monitoring” or “accounting”) be a part of a CRM, it is arguably the most important part of a CRM because it’s at the core of what providing service to the customer entails — information that comes out of data!

Firms need a digital method to engage stakeholders (ie investor portals)

Investor portals are not new; in fact, for many of us — including myself — they conjure up horrifying nightmares in which we’re aimlessly guessing at folders to find the newest document we need.

So in lies the opportunity: not only have the portals we’ve come to hate not simplified the process of acquiring information, they’ve failed to create an entirely new experience that is “customer service” driven.

To be fair, this is not a B2C market where you’d be long out of business for not having focused on customer service and thus the customer’s technology-driven experience. But don’t expect to be around too much longer if you aren’t thinking about this shift.

Today’s institutional investors increasingly expect this same consumer-like experience, and a massive opportunity is being missed by not providing it. It’s not about providing them the experience they desire; it’s more about the ability to measure engagement that is had in return.

Put simply: what’s keeping the market from providing this experience is the availability of the information that’s required to create the service that provides the experience.

If you’ve hung in this long, you know that by focusing on your CRM, you have the data that’s required to manage the customer relationship and the technology-driven experience through which that information is shared to create a differentiated and opportunistic customer experience.

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