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2009 e-Business Budgets Take a Hit

by Johanna

e-Business and e-Marketing teams at asset managers haven't escaped the consequences of the recent market crises.

Out of 18 asset management firms that kasina surveyed in 2009, 67% are seeing decreased budgets from 2008 to 2009. Some firms are being hit especially hard: almost 30% of surveyed groups have had to cut their budgets by over 50%.

Despite this grim picture, the good news is that most teams have maintained the number of staff dedicated to the intermediary channel, and 2 firms are actually increasing their team size in 2009.

However, e-Business leaders aren't throwing up their hands and giving in, and we can look to many new innovations online in 2009 and beyond. In fact, 25% of firms are working on site redesigns, and an additional 39% of firms are working on enhancements to site content in areas such as education and value add.

Furthermore, at many firms, marketing groups are focusing on lowering costs by decreasing the amount of print advertising. Correspondingly, e-Business leaders are focusing on providing more effective online delivery services via e-mail and other technologies, such as RSS.

Stay tuned, in the upcoming months kasina will debut a new research report on how firms can leverage the Web for cost effective distribution. In this report we'll provide guidance on how firms can maximize precious resources.