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Reynolds SIC 2015 FINAL

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Reynolds SIC 2015 FINAL

  1. 1. © 2015 Information Services Group, Inc. All Rights Reserved.
  2. 2. © 2015 Information Services Group, Inc. All Rights Reserved. How Advisor Relations Programs are Changing to Increase Engagement Evolve or Perish: Paul Reynolds
  3. 3. © 2015 Information Services Group, Inc. All Rights Reserved 3 Agenda o Research methodology & demographics o Expectations of the third-party advisory channel o Advisor relations activities and expectations o Advisor relations team size trends o Advisor relations budget trends o Awareness Framework o Market trends and takeaways
  4. 4. © 2015 Information Services Group, Inc. All Rights Reserved 4 Survey methodology Who Advisor Relations professionals What 15-minute online survey When Completed in August 2015 Why Internal planning Results 79 completed interviews across 48 different companies, ~30% response rate
  5. 5. © 2015 Information Services Group, Inc. All Rights Reserved 5 Advisor Relations professionals are pulled in multiple directions Percent of Advisor Relations with other responsibilities 55% 35% 25% Global Leads Regional Leads Team Members
  6. 6. © 2015 Information Services Group, Inc. All Rights Reserved 6 Advisor Relations professionals are pulled in multiple directions Percent of time they spend doing their “other job” 45% 54% 18% Global Leads Regional Leads Team Members
  7. 7. © 2015 Information Services Group, Inc. All Rights Reserved 7 Time spent on Advisor Relations activities o External Advisor Management o Meet with advisors to build relationships o Make intros between advisors and stakeholders o Attend formal workshops, briefings, advisor events o Attend conferences, advisor days, client events o Internal Team Management o Work with pursuit teams on opportunities o Meet with internal salespeople o Report and manage expectations internally o Internal Program Management o Respond to advisor requests o Execute programs (e.g. advisor days, education) 43% 38% 20% 16% 10% 10% 6% 16% 11% 10% 10% 10%
  8. 8. © 2015 Information Services Group, Inc. All Rights Reserved 8 Measurement Average Number of Metrics Global Leads Regional Leads Team Members 3.3 2.9 2.6 Primary Success Metric Win $ Invites $ & # Invites $
  9. 9. © 2015 Information Services Group, Inc. All Rights Reserved 9 Top success metrics for Advisor Relations Dollar Value of Sales Won Dollar Value of Invitations Number of Invitations 66% 47% 45% 47% 65% 65% 45% 55% 45% Global Leads Regional Leads Team Members
  10. 10. © 2015 Information Services Group, Inc. All Rights Reserved 10 Market Segments Large Western Heritage Large Indian Heritage Small Western Heritage Small Indian Heritage
  11. 11. © 2015 Information Services Group, Inc. All Rights Reserved 11 Goals are both the same and different. Every provider has two primary goals when engaging with ISG: 1. to increase its pipeline 2. to improve its winning percentage. Yet the scale of those expectations differs dramatically…
  12. 12. © 2015 Information Services Group, Inc. All Rights Reserved 12 TPA Channel Expectations Average Channel Expectation Expectation range ISG Representation ISG Range Expect increased ISG pipeline in 2016 $7.4B . $100M - $25B+ 18% . 5% - 30% 43% Large Western Heritage $45M . $5M - $100M 31% . 1% - 100% 56% Small Western Heritage $6.2B . $3.5B - $10B 37% . 30% - 50% 86% Large Indian Heritage $165M . $11M - $500M 23% . 5% - 100% 54% Small Indian Heritage
  13. 13. © 2015 Information Services Group, Inc. All Rights Reserved 13 Teams are growing to achieve expectations Large Western Heritage Small Western Heritage Large Indian Heritage Small Indian Heritage 3.3 4.9 0.8 2.0 5.5 8.8 1.6 3.3 2013 2016e
  14. 14. © 2015 Information Services Group, Inc. All Rights Reserved 14 Variances in 2016 Advisor Relations team size Large Western Heritage Small Western Heritage Large Indian Heritage Small Indian Heritage 1.0 10.0 1.0 5.0 5.0 12.0 1.0 7.0 Min Avg Max 4.9 2.0 8.8 3.3
  15. 15. © 2015 Information Services Group, Inc. All Rights Reserved 15 Growth in global Advisor Relations team size Large Western Heritage Small Western Heritage Large Indian Heritage Small Indian Heritage +40% +15% +33% +47% Growth is from 2015 to 2016. 35% 44% of companies will expand their Advisor Relations teams in 2016 is the average growth among those that will expand +69% +67% +10% +34% % Will Grow % Growth
  16. 16. © 2015 Information Services Group, Inc. All Rights Reserved 16 Expansion by company type Americas EMEA AP Global Large Western 0.8 1.0 - 1.8 Small Western 0.5 0.5 - 1.0 Large Indian 0.5 0.5 - 1.0 Small Indian 0.8 0.1 0.3 1.1
  17. 17. © 2015 Information Services Group, Inc. All Rights Reserved 17 Expansion by geography 0.7 0.4 0.1 USA UK & Ireland India Generally, companies look to invest in the countries where they already have a presence.
  18. 18. © 2015 Information Services Group, Inc. All Rights Reserved 18 External spending on Advisor Relations Large Western Heritage Small Western Heritage Large Indian Heritage Small Indian Heritage $582K $158K $813K $383K $395k Average external spend on Advisor Relations Programs in 2015 43% 57% 66% 34% 0% 100% 34% 66% Average Spending Below $100K Above $100K
  19. 19. © 2015 Information Services Group, Inc. All Rights Reserved 19 How budgets are allocated o Advisor interaction (education, events, conferences) 39% o Databases/ Market Data/ Research Subscription (Momentum) 36% o Attendance at industry conferences (IAOP, SIG) 7% o Sales Support and Training (methodology training) 6% o Industry awards, reprint rights to published reports 4% o Sponsorship of TPA sponsored client facing events 3% o Custom research project 3% o Others 2%
  20. 20. © 2015 Information Services Group, Inc. All Rights Reserved 20 Expected increases in external spending Large Western Heritage Small Western Heritage Large Indian Heritage Small Indian Heritage 27% 62% 67% 54% Growth is from 2015 to 2016 54%of companies will increase their external Advisor Relations spending in 2016 +18% +22% +19% +21% % Will Increase Average Increase
  21. 21. © 2015 Information Services Group, Inc. All Rights Reserved 21 Awareness framework Awareness Familiar, need more info to consider for a deal Understanding Know well, can ID appropriate deals for them Trust I feel comfortable inviting them to a deal Advocacy Proactively recommend them to my clients “Trust is not a matter of technique, tricks, or tools but of character. It is built and maintained by many small actions over time.”
  22. 22. © 2015 Information Services Group, Inc. All Rights Reserved 22 Comparison findings for Americas infrastructure 85% 31 16 76 Understanding 58% 15 6 54 Trust 99% 93 56 36 Awareness 23% 20 4 1 Advocacy Large US firms Large Indian Small US firms Small Indian Source: ISG Service Provider Awareness Research 2015, Americas Infrastructure
  23. 23. © 2015 Information Services Group, Inc. All Rights Reserved 23 Market Trends… o Advisor Relations team sizes are growing o External spend with third-party advisors is increasing o Providers have high expectations from the third-party advisory channel o Providers are increasingly looking for more from the ISG channel ISG Advisor Community Your Company Company Company Company Company Company Company Company Company Company Company CompanyCompany Company Company Company Implications
  24. 24. © 2015 Information Services Group, Inc. All Rights Reserved 24 MarketingSales Advisor Relations is a combination of… & 80% of sales are made on the 5th to 12th contact.
  25. 25. © 2015 Information Services Group, Inc. All Rights Reserved 25 The rule of seven simply says… The prospective buyer should hear or see the marketing message at least seven times before they buy it from you. http://www.tutorialspoint.com/management_concepts/the_rule_of_seven.htm
  26. 26. © 2015 Information Services Group, Inc. All Rights Reserved 26 Rule of Seven, Summarized & Tailored… o You need to let the influencer hear and see your marketing message many times before they make a recommendation. o There are many reasons for the need of repetition. Influencers just can't trust you and make the recommendation the first time you show your message. http://www.tutorialspoint.com/management_concepts/the_rule_of_seven.htm o So, this simply means that your marketing effort should be repetitive and consistent. o You cannot just educate them one time and expect a recommendation. o The hidden message of rule of seven is the continuous and repetitive effort that should be put in.
  27. 27. © 2015 Information Services Group, Inc. All Rights Reserved 27 So how do you make your message stand out? The Psychology of Storytelling, Gregory Ciotti “Those in sales and marketing have known for a long time that stories trump data when it comes to persuasion because stories are easier to understand and relate to.” “When facts and information are framed by a compelling story, you'll not only hold the attention of your audience, but you'll also make the information presented more memorable… No matter how compelling your facts are, if your audience isn't invested in what you're saying, all the information will be lost on them.”
  28. 28. © 2015 Information Services Group, Inc. All Rights Reserved 28 In the ever-evolving marketplace, o Advisor relations teams are growing. o Providers are increasing their spending levels with third-party advisors. o Expectations of the third-party advisory channel are higher than ever. Advisor Relations teams need to leverage data to help prioritize where to invest energy. Service providers need to o Ensure their message is heard o Use a programmatic approach to engage with third-party advisors “Trust … is built and maintained by many small actions over time.” o Identify their true differentiation o Make a memorable impression
  29. 29. www.isg-one.com imagine your future™ let’s connect…

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