Fund companies and other financial firms have been effectively using social networking media to differentiate themselves among investors, advisers and even their own employees, according to Cerulli.
While most financial firms’ advertising and marketing budgets are already stretched then, Cerulli recommends they find additional money to build a presence on a social network, calling the outlet a powerful yet inexpensive one.
Cerulli also noted that since 35% of sales managers say that differentiating their brand is their biggest challenge, social networks provide an excellent venue for unique expressions. The company also found that 60% of marketing managers plan to increase their online advertisements.
In marketing to advisers, Cerulli recommends that companies stress consistent returns and solid reputations, and also that marketing teams work closely with compliance officers.