The Sustainable Wholesale Model in the New World.

Now that consumers have adapted to virtual meetings, expectations for a great customer (stakeholder) experience have also structurally shifted. Broadcast and relay sales techniques of the old world are superseded in the new world by access to meetings where inclusiveness is key to building trust in your brand and your people. Wholesale distribution is changing thanks to the 'death of distance*' between product manufacturer and consumer. In 2021, organisations are challenging themselves to get closer to the consumer while supporting their existing distribution partners. The good news is, that is a question of method over model. Choosing Forum 360's IR, sales and distribution platform enables producers like you to offer an inclusive customer experience without disrupting the wholesale model. Changing the method leads to increased sales while reducing expenditure on distribution and stakeholder engagement.

As companies report their 2020 results, no doubt you are learning more about the power of inclusiveness. In financial services, Wisdom Tree reported record sales after a remote distribution first approach that centred around inclusiveness. Record sales came with a ~20% decline in sales and distribution expenditure. At Forum 360, we see this every day with our inclusive first approach to meetings. Engagement rates with active managers are up 10x on what broadcasting would typically yield. Attendee feedback regularly points to in-meeting discussion being highly relevant to their interest. And that regular access opportunities are valued more highly than an 'annual roadshow'. Deloitte's 2020 global survey** found 54% of investment managers are looking to build sales relationships management systems that leverage of inclusive virtual meetings. Why build though when Forum 360 has been built for you?

The team at Forum 360 know too well the constraints to inclusiveness that exist in wholesale distribution models. Some of our largest customers, multi-silo asset managers with integrated wealth, have a wholesale model that exists within their own organisation. Different brands for different regions, even individual offices. Each office protective of their customers' identity and that relationship. To overcome these hurdles, we focused on the method of distribution while preserving the model. Broadcast techniques such as fact sheets, investment letters, market releases, short video, webcasts are nowhere near as inclusive as meetings. So, we enable our customers to offer meeting access to their investment / management team through a variety of branded channels in a way that respects the role of their distribution partners.

Wholesale distribution is used across many industries, not just financial services. Hurdles to inclusiveness also apply. Think of the automobile manufacturer who has built their distribution network through dealerships. Or the wine producer who has built their distribution network through import agents and liquor stores. The death of distance applies across many industries. Yet, XANT research shows that sales teams at large organisations tilt heavily toward field sales (70%), insides sales (20%), digital (10%). EY*** takes the view that that mix shifts to field sales (40%), inside sales (40%), digital (20%) in the new world. At Forum 360, we believe that these inside sales and digital targets are achievable by promoting inclusive access. Bringing the product manufacturer closer to the consumer both direct and by working with distribution partners. For example, an offer of regular meeting access to the Toyota Rav4 design team for known owners around the world through their local dealer is a significant improvement from the sales pamphlet or educating the local sales rep to then relay the sales pitch. While at the meeting, drivers can start ordering the new model though their local dealer. The same approach applies for the premium wine maker.

Forum 360 enables organisations from all industries to pursue a strategy of inclusiveness with their stakeholders in a way that respects the wholesale model, reduces time and reduces resources spent on distribution. And now that structural change has changed the minimum expectations for a relationship, then do not be stuck thinking that broadcast sales and distribution techniques is enough to maintain your stakeholder relationships in the new world.

*https://www.profgalloway.com/the-great-dispersion; **https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-outlooks/investment-management-industry-outlook.html; ***https://www.ey.com/en_us/consulting/how-to-reoptimize-sales-channels-for-a-post-pandemic-world