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Tuesday, April 23, 2013

Which Firms Are Best at Social Media?

Reported by Ben Geier

Its a social media driven world, yet the asset management business apparently doesn't try very hard to evaluate that part of strategy, according to a new report from kasina.

The research firm found that only 26 percent of shops have quantifiable objectives for social media use.

The report did name the top five firms for social media use: Vanguard [profile], Sun Life, iShares [profile], Putnam [profile] and Franklin Templeton [profile]

The company news release is below.

Company Press Release

Leading Asset Managers In Social Media Integrate Strategies Across the Sales Cycle

kasina's new report ranks Vanguard, Sun Life, iShares, Putnam and Franklin Templeton Investments as the top five asset managers for social media practices. It also reveals that only 26% of firms have quantifiable objectives for their social media ROI.

NEW YORK, April 23, 2013 - While asset managers' use of social media to garner more business from advisors has surged in recent years, only 26% of firms attempt to quantify their returns on those efforts, according to a new report from kasina entitled Building a Competitive Social Media Competency. As a result, three-quarters are missing valuable opportunities to develop more effective campaigns that drive bottom-line results and demonstrate the value of social media to gain more resources and firm-wide participation.

"As financial advisors become increasingly hard to reach through traditional means, asset managers must become more adept at showcasing their products and expertise where advisors are-in social media," says Jenny Chu, Senior Research Analyst at kasina. "But too many firms are flying blind. Without a carefully crafted strategy and tracking what works and what doesn't, they'll never maximize their results."

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