Many asset managers continue to believe that performance is the key factor that drives sales. While above-average performance helps, brand awareness, a robust dealer agreement list and product differentiation must be present before sales success generally occurs.
How many Gatekeepers will onboard a product or Advisors purchase a product for their clients without some level of due diligence on the asset manager? Our experience in the Home-office and Advisor channels would say very little. Various levels of due diligence are necessary and generally starts by exposure to the asset manager’s brand. Greater awareness is achieved by consistently promoting an overarching statement that succinctly defines the company and its differentiating product characteristics.
While messaging is critical, we believe it’s the frequency of delivery to a wide Advisor audience that makes the difference. And building a brand is not dependent on market conditions. It’s a constant and a never-ending process whereby Advisor recognition is achieved over a period of years.
How are Advisors learning about your brand and what differentiates your products from a crowded marketplace? Consider proactively promoting your brand, with a strategy targeted directly to the Advisor audience to build your pipeline and enhance your sales effort.
Want to learn more on brand building and its integration with sales? Let’s have a discussion on how you can achieve greater success in the Advisor channels.