Advisors covered by wholesalers and who use the Web averaged 25% more sales than advisors with no Web use.
New York, (April 7, 2008) – Firms should take full advantage of the Web’s impact on annual sales, according to a new study by kasina, a leading asset management consultancy. The study, “Your Site Can Sell, Too,” examines ways firms can prime their Web sites to fill sales gaps left by wholesaler teams.
With over 250,000 registered advisors in the country, no single wholesaler team is able to effectively touch all of them. “Even the most expansive wholesaling force in the nation touches less than 30% of advisors,” says Anurag Heda, a manager at kasina.
kasina survey data suggests the Web already plays a growing sales role among advisors. 54% indicated that the quality of a fund company’s Web site is “very important” in influencing their buy/sell decisions.
Furthermore, the kasina Web Lift analysis, which assigns a clear dollar value to Web impact on annual sales, shows a striking correlation between sales and Web presence. Advisors covered by wholesalers and who use the Web averaged 25% more sales than those who do not use the Web.
Yet, even as the Web helps grow assets, firm sites are not currently designed to sell or treat advisors as prospective buyers. With increasing margin pressures on the horizon, firms must find new ways to elicit sales now more than ever. “Given the Web’s growing impact on sales, firms face a clear opportunity to add major scale to future sales efforts by turning e-Business’s focus to prospecting,” says CEO Steven Miyao.
According to kasina, firms can optimize their Web sites to attract prospects by:
- Designing to sell: Refocus content to drive sales through product reorganization
- Driving registration: Implement an effective e-mail campaign strategy
The Web already makes an impact on firm sales. The sooner firms invest in its untapped potential, the sooner they can earn the benefits.
Get more information on the full report, “Your Site Can Sell, Too.”
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.