Digitalization has arrived for Swiss asset managers

Asset managers need to actively use possible actions so as to not be bogged down by regulations. On Thursday, June 28 at the IFZ Conference of Swiss Asset Managers, Christian Ziegler from mm1 Switzerland demonstrated the possibilities offered by using technology in sales.

Success in sales not only depends on having the right product. Its positioning at the right time–via the right channels and with the right customers–is also crucial for success.

At the right time

New acquisitions and changes in living situations are the main reasons why a customer informs himself/herself. Asset managers need to use this time for sales. They should be discoverable on search engines, advertise their differentiating factors on their websites, and have a presence in online comparison services, since these are the main sources of information for customers. However, offline channels are still important,  and their relevance grows before products are purchased.

Via the right channels

There is often this prevailing myth that age and value orientation are suitable factors for differentiating online affinity. However, this is not true. Furthermore, it is no longer possible for the most part to strictly segregate customers into online and offline. As such, it is important to offer customers cross-channel touchpoints so that they themselves can choose the channel.

The digital customer experience has significant importance in shaping online channels. Customers nowadays are used to the user experience from Apple, Amazon, etc. and therefore expect the same from their asset managers. As such, simple, user-friendly, personalized and smooth processes must be provided to meet the needs of customers.

Technology in sales

Asset managers are often accused of severely lagging behind other industries when it comes to digitalization. However, a survey conducted during the IFZ conference shows that external Swiss asset managers have accepted the digital revolution. 43% stated that they have already begun their first projects and that additional ones are planned. The digital revolution is even in full swing already for 49% of respondents.