Suffice it to say, sales leaders in the asset management, insurance, and retirement industries are under un-relenting pressure to enhance wholesaler performance. Brands that want to win the trust of their channels and be perceived as a valuable, priority relationship, must deploy effective Intermediary Relationship Marketing (IRM). Today, many brands deploy a version of IRM, most of which neither generate trust or add value to their relationship with their important intermediary partners.
What is Effective IRM?
In the context of the asset management, retirement, and insurance industry, IRM creates leverage and scale for distribution platforms targeting intermediaries and distributors. An IRM initiative augments the productivity of internal and external wholesalers through a pragmatically developed plan of systematic and integrated marketing activities. These activities:
- Create a compelling, consistent and coherent narrative with target channels
- Generate new qualified leads
- Keep target channels engaged with your brand and products
- Pave the way for more effective wholesaler interactions.
Instead of focusing on a single campaign, or a series of disconnected interactions, effective IRM initiatives plan and deploy integrated inbound and outbound communication streams — guided by the stage of your brand’s relationship with the channel, individual level data (e.g., behavioral, self-reported, firmographic), and your brand’s narrative. These communication streams increase the probability that your products and brand are selected by your target intermediaries and distributors. IRM builds mindshare, reinforces the value of the relationship with your brand, fosters trust, and provides your wholesalers with richer and timelier intelligence. IRM must also integrate seamlessly with existing sales force automation and CRM tools.Subscribe