NEW YORK, May 25, 2016 /PRNewswire/-- DST kasina, a provider of business intelligence that transforms distribution, marketing, and product development for asset managers, today released the results of its research on the development of effective advisor segmentation strategies by asset managers.
The DST kasina study – "Advisor Segmentation: A Unified Approach" – indicates that a comprehensive, data-driven advisor segmentation strategy can best pinpoint opportunities for business growth, inform better product development, and support more effective marketing
According to Julia Binder, Head of Strategic Marketing Research for DST kasina, business success in today's market will depend on effective advisor segmentation using sales, behavioral, demographic, and portfolio data.
"No firm can sell effectively to 300,000 advisors," says Binder, "yet many asset managers employ sales and marketing strategies based on little more than their advisors' transactions and assets under management. We're suggesting that a unified segmentation approach can reveal hidden opportunities for a manager to develop new products for new markets, increase client retention, expand existing markets, and provide efficient service."
DST kasina's research reveals that a majority of firms are currently using segmentation for tactical not strategic purposes:
- 96.2% for targeting email campaigns
- 61.5% to determine wholesaler coverage
- 38.5% to inform content strategy
"We see that most firms have some of the data they need, but few have all the data required, including demographic and portfolio construction data," says Binder. "With access to comprehensive internal and third-party data, however, firms can cluster advisors by layering in information about advisor preference for portfolio construction, business management, and contact to align a firm's best business opportunities with its product offerings."
Designed to help business executives at asset managers develop a comprehensive, flexible advisor segmentation strategy, the paper includes six steps to develop an effective unified segmentation strategy, and three strategies to use segmentation in sales, marketing, and product development to improve client retention.
"With a unified approach to segmentation, asset managers should benefit from strategic alignment between sales, marketing, product strategy and support to target and nurture those advisors that represent the best fit for their value proposition," says Binder. "These advisors will be receptive to marketing initiatives, sales contact, product offerings and support services that are essential to a healthy business."
About DST kasina
DST kasina provides business intelligence services to the asset management industry. Led by industry experts, DST kasina's consulting engagements cover distribution strategies, marketing plans, audits, and educational seminars, each designed to help financial service firms stay ahead of the forces driving the industry while boosting their effectiveness and profitability. With DST kasina WalletShare®, clients are able to integrate marketing automation, predictive analytics, third-party data, and proprietary firm information into one powerful, easy-to-use platform. For more information on how to leverage DST kasina's business solutions, visit www.kasina.com
DST Systems, Inc. (NYSE: DST) is a leading provider of specialized technology, strategic advisory, and business operations outsourcing to the financial and healthcare industries. Combining unmatched industry knowledge, critical infrastructure and service excellence, DST helps companies master complexity in the world's most demanding industries to ensure they continually stay ahead of and capitalize on ever-changing customer, business and regulatory requirements. For more information, visit the DST website at www.dstsystems.com.
Laura M. Parsons
DST Global Public Relations
+ 1 816 843 9087
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SOURCE DST kasina