Asset managers unanimously agree that social media is an ideally suited tool for communicating with financial advisors or other intermediaries, according to new research.
Cerulli Associates discloses this finding in “U.S. Product Marketing and Sales Organizations 2013: Supporting Distribution with a Multi-Faceted Marketing Plan.” The report examines marketing and sales organizations, and explores structured, staffing budgets, branding, advertising, websites, social media, wholesaling trends and requests for proposal (RFPs).
In addition to communicating with advisors, asset managers use social media to garner intelligence from industry conversations (83 percent). Three-quarters of asset managers use social media to communicate with investors.
Less than one-fifth of advisors use social media to encourage communication among staff and handle other tasks (17 percent).
“Social media serves as ideal communication to create touch points with advisors and other intermediaries,” the report states. “Social media provides an excellent forum for industry experts to engage in constructive debate and bring to light intelligence disseminated in whitepapers, articles, videos and webcasts.
“More managers are using social listening tools to understand what clients and prospects are saying about their firms, as well as to keep a close eye on developing trends in the industry,” the report adds. “Integral to the success of marketing teams at asset managers, firms should place a focus on establishing their social media presence as industry-leading across their particular fortes.”
The report goes on to note that blogs, Twitter and social media vehicles also help to boost loyalty among the communications’ recipients.