Giving wholesalers easy access to product data, sales support is key; creating portals, integrating CRM can help; report suggests metrics for defining success
NEW YORK, February 14, 2006 – What if they built a better intranet and nobody came? That is the question facing those asset management firms that, in seeking to leverage their intranets to boost sales, are instead failing to provide wholesalers with the tools and information needed to succeed, according to a new study from kasina, LLC, a leading consultant to the financial services industry.
“With only about half of the top 25 fund families having positive inflows in 2005, firms need to be smarter about the way they approach distribution,” stated Lauren Lisher, consultant at kasina. “However, as firms attempt to develop more focused distribution strategies, many continue to struggle with providing the right information to wholesalers in the right way. Our latest whitepaper is designed to help management navigate these challenges by exploiting the potential of the sales intranet.”
In its whitepaper, “Building Next Generation Sales Tools: The Sales Intranet,” kasina addresses the major issues that firms face as they try to reinvent the sales intranet as a primary wholesaler tool, such as:
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How can firms demonstrate the value of the sales intranet?
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How can firms get wholesalers to effectively use the intranet?
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How should the sales intranet integrate with other tools?
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What information do wholesalers need most from the sales intranet?
Solutions recommended by kasina include designing a more needs-driven intranet that allows wholesalers access to accurate information about products and competitors quickly and efficiently; creating a portal which ties key sales resources with informational aspects of the advisor website and the CRM system; and increasing the Sales department�s financial ownership and management of the intranet in order to elevate usage rates.
As with any other business investment, says kasina, firms need to implement metrics to measure the value and track the impact of the sales intranet. To achieve this, firms need to use metrics with revenue-generating impact, such as a correlation between wholesaler intranet usage and sales, as well as cost-saving benefits, such as a decrease in the costs associated with dissemination of marketing materials.
“In today�s environment, firms must work to maximize the impact of every tool at their disposal. For many, the intranet has long been underutilized. Our study provides a roadmap for leveraging this important resource to better support the efforts of the entire distribution organization,” said Lisher at kasina.
About kasina
kasina is a management consulting firm that is focused on helping financial services companies create intelligent relationships with their investors and intermediaries. By combining knowledge of distribution trends, technological innovations, and marketing strategies, kasina aids leading asset management firms with front-office efforts and publishes a regular schedule of cutting-edge industry research. kasina�s client list includes 18 of the 20 largest asset managers in the United States and leading firms in Canada, France, Germany, and the United Kingdom. www.kasina.com.
