Cerulli Associates’ report, “Global Marketing and Sales Organizations,” predicts that digital media use will increase across all aspects of marketing and sales as companies evolve from product-driven to customer-led organizations. Asset managers are at various stages of development in exploiting digital media.
U.S. companies, particularly in the area of social media, are leading their European and Asian counterparts, the report said. Digital media usage increased in the U.S. from 31% in 2010 to 69% in 2011, despite regulatory obstacles. Most firms incorporate blogs and Twitter messages in their marketing strategies. Many fund houses in Asia, meanwhile, prefer traditional media such as print and television.
“Technology is enabling the faster delivery of communications,” said Fiona Maciver, associate director at Cerulli Associates and the main author of the report. “The real challenges for asset management are integrating and adapting organizations to benefit from new methods of engagement.”
More than 30% of global asset managers use digital media to communicate with advisers or other intermediaries, and 25% of firms use digital media to generate press interest. Survey participants said LinkedIn and blogs are the most effective channels, while Facebook was ranked as having the least potential.
Advertising, brand, communications, creative services, e-commerce, internet marketing, production of marketing material, events, sponsorship and social media are the functions that 50% or more of survey participants suggested are located in the marketing function.
In 2013, most firms (90%) expect to spend more on e-commerce and digital media.
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