Every financial firm needs distribution channel to get their message out. But the key is using the most effective way to distribute the message.
Distribution is the process of making a product or service available for the consumer or business that needs it and there are several ways to do this: Directly by the producer or service provider, or using indirect channels with intermediaries.
As everyone knows, in 2017 distribution and technology are involved intimately in the marketing process, in the midst of companies scrambling to create business models that will maintain and hopefully grow their revenues.
Said another way, technology is now a part of the hand-to-hand combat process when it comes to Distribution.
Harvest just won “Best Distribution” platform, but historically a firm like ours would never even be considered for such an award. The fact that we won speaks to changes in the landscape that are happening real-time and that are impacting the bottom line for many financial firms.
Distribution — well, profitable, scalable, and repeatable distribution — is key in selling financial products, according to a recent article on Tradestream. We couldn’t agree more.
Whether a firm is a Fintech upstart or an incumbent financial institution shipping financial products, without viable distribution channels, your message will be dead on arrival.
Platforms like Harvest distribute content, free up physical shelf space and speed up product delivery for users. Technology happening now in the marketplace offers the promise of searchable and customizable experiences using artificial intelligence and data.
How is it done? An obvious path for financial firms is partnering with another institution that has a large pool of users.
An obvious example is when a vendor hooks up with Amazon.com. The vendor has a great product but who’s going to see it? Amazon.com has amassed millions of buyers using the website on a regular basis.
Harvest has a similar business model.
The platform attracts more than 100,000 readers a month, all looking for financial information, whether in the form of insights, investor letters, presentations or anything inbetween. That is a distribution opportunity for many firms to get their message and brand out into the marketplace.
For financial firms, pigging-backing on financial or nonfinancial distribution channels has proven to work. Harvest just won the award for it.