Most asset managers cite the need to support distribution efforts more effective as the main reason for making organizational changes, according to a new report.
Cerulli Associates, Boston, arrives at this conclusion in a new report, U.S. Retail Product Marketing and Sales Organizations 2012: Maximizing Distribution Success with an Effective Sales and Marketing Strategy. The report focuses on retail marketing and sales organizations, including structure, staffing, budgets, branding, advertising, websites, social media, wholesaling trends and requests for proposals.
The report finds that more than 8 in 10 (82 percent) of asset manages peg the need to support distribution strategies more effectively as the main reason for making organizational changes. This is up from the 73 percent of survey respondents who pointed to distribution needs in Cerulli’s 2011 survey.
Significant majorities also cite as the main driver to their organizational changes:
the need to be more strategic (76 percent);
expansion of digital marketing efforts (65 percent); and
an increasingly competitive environment (53 percent; up from 40 percent in 2011).