AF Advisors’ partner Jasper Haak published an article (in Dutch) on Fondsnieuws about asset managers’ sales strategies and identified several areas with room for improvement.
In the article he argues that many asset managers’ sales teams can significantly improve performance by mapping their products, clients and competition.
While the majority of sales managers have a good view on investment policies and performance of their own products, they often lack understanding of potential customers and competition. The strategy often is to sell as many products as possible to all eligible clients. Unfortunately, this approach leaves the competitiveness of own products and the needs of the client unattended.
In this competitive market with declining margins, change is needed. To be successful, it will come down to more than just having a good product. By mapping products, clients and competition, sales teams will be able to discover new and better business opportunities.
text: Jasper Haak