Asset managers are using digital marketing techniques that include such things as microsites, social media, and mobile apps in order to make inroads with RIAs, according to a new report from Financial Research Corp. (FRC).
The report, titled “Winning Strategies for Marketing and Distributing to the RIA,” analyzes brand and advertising campaigns launched by 13 asset managers since 2010. FRC found that eight of the firms used digital marketing as a component of the campaign.
Amy LaFrance, author of the report, said that such tactics could extend a campaign that usually is limited. “While a traditional ad campaign is typically short-term in nature, we are now seeing firms couple them with social media elements, which can increase the long-term impact of their campaign,” she said in a statement. “This generates more meaningful interactions with RIAs, and opens the door to building stronger relationships in the future.”
The report also found that push-marketing strategies, including such elements as cold calling, advertising and mass emails, were less effective within the RIA market.