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Firms Must Integrate iPads into Sales Process

By Rubesh Jacobs

A kasina survey from December 2010 revealed that firms recognize the value of mobile devices and apps. It further revealed that access to information, enhancing productivity, and enhancing the sales processes are critical to wholesaler's use of mobile devices. These observations will be confirmed in kasina's forthcoming 2012 update to the study, based on December 2011 data.

Mobile Technology Capabilities that Firms Value

Recognizing this value, during the past year wholesalers at JPMorgan, Ivy Funds, Dreyfus, Lord Abbett, and John Hancock, among others, have all rolled out iPads to their sales teams. Starting with JPMorgan and The Hartford, firms even rolled out an iPad app specifically for their wholesalers. This trend will continue to gather momentum.

Still conversations with advisors, data from research, and executive discussions at kasina roundtables, reveal a troubling trend; wholesalers bring the iPad to the meeting but use brochures for the discussion with advisors.

Among the root causes of this issue are:

• Apps and mobile websites ill-suited for a point-of-sale conversation
• Poor integration of the iPad into the sales process
• Lack of structured training for wholesalers on how to use the device with an advisor
• Little to no measurable goals related to iPad usage

It is obvious that these issues are intertwined with each other. For instance, if the apps are not good enough for a wholesaler to use with an advisor, they are more likely to rely on good old brochures. Or, if wholesalers are not trained on how to bring an iPad into the conversation, they are more likely to revert to tried and true approaches of old.

Hence, we recommend the following:

• Modify existing apps in such a way as to enable a smoother conversation between wholesaler and advisor
• Revisit existing sales processes and marketing campaigns and make changes to how the iPad should be used
• Utilize existing sales training time to inculcate iPad usage with wholesalers
• Set up measurable goals for e-Business, marketing, and sales in order to measure the usage and effectiveness of iPads