Across nine types of marketing outreach, digital approaches are delivering the biggest bang for the buck in financial advisors’ provider consideration levels.
That insight comes from new data from Cogent Reports, which reveals that advisors exposed to the mobile apps, websites, and webinars of leading asset managers have brand consideration levels at least 36 percentage points higher than those without.
“According to Cogent Reports, the average lift achieved across the nine touchpoints it tracks ranges from a low of 15 percentage points for news recall to a high of 42 percentage points for mobile apps and websites in Q1 2015,” a report summary shared with MMW reads. “On average, more than three-quarters (76 percent) of advisors exposed to asset managers’ proprietary mobile apps indicated they are likely to increase business with the firm, compared with only 34 percent of advisors who were not exposed (a 42-percentage-point lift).”
Of the 15 leading firms tracked by Cogent, the top firm by category in terms of achieving brand consideration lifts in Q1 with their digital strategies include State Street/SPDR among ETF providers (34-percentage-point lift), Jackson National Life for variable annuity providers (53-percentage-point lift), and American Funds and Franklin Templeton for mutual fund providers (47 and 46, respectively).
“The good news is mobile apps and webinars deliver remarkable results,” says Sonia Sharigian, senior product manager at Market Strategies. “The bad news is only small numbers of advisors are currently being engaged by asset managers via these methods.”
