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3 Biggest Challenges Financial Services Marketers Face

By Sean Sullivan, Vice President of Sales 5/11/2016

Business Woman

Many of our customers face similar challenges when it comes to marketing their financial services, so we thought we’d share the big three:

1. Compliance
2. Controlling the brand
3. Accomplishing goals with limited resources

In the early stages of talks with a customer (at the time a prospect), he explained to us that they had a team of financial advisors around the world that hosted “Lunch & Learn” type events on a daily basis as part of their customer engagement strategy. This was great for their in-person marketing plan as personal relationship building was a key driver of conversions; however this presented a problem for the Corporate Marketing department since they were responsible for supporting marketing needs of every single advisor in their global network.

Daily requests poured in for custom email invitations, brochures, landing page registrations, PowerPoint presentations, email follow-ups, and posters. The creative team would spend most of their day editing dates, locations, contact information, logos, and speaker information on the same types of assets. This led to a mundane, task-laden, “Groundhog Day” for the marketing team. Their creative services team was unable to focus on higher value-added design work. Even worse, when they became overwhelmed with requests and were not able to deliver assets quickly enough, the advisors would take it upon themselves to create their own using inferior design programs exposing the business to brand confusion and regulatory risk!

While this anecdote is unique to this customer, the story line is the same as what we hear from many marketers we meet. Overwhelmed marketing departments are the norm these days with teams being asked to create more with less. Complying with regulatory requirements is not an option; it’s a must (the Legal department will agree).

When they reached a point where production delays were causing lost revenue, this company decided to research a marketing on-demand solution to see if there was a way to alleviate their daily pains, which is how they found MarcomCentral and became a customer. By investing in marketing asset management technology, they were able to provide every single advisor with marketing assets that were approved and compliant, yet were able to be edited to include customized information for their customers.

Another benefit of deploying a marketing on-demand system was that the view of the Corporate Marketing department by the rest of the company shifted from a “bad cop” enforcement and gatekeeping department that hindered success to a “good cop” enablement department that provided solutions to daily problems. Marketing assets were delivered quickly and with correct branding, which contributed to an overall positive brand experience for both customers and employees.

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