Autumn Members’ Conference: Marketing Strategies Today, For Tomorrow’s World
Tuesday 13 November 2018
Venue: BT Centre
Speakers: John Hoffmire (Oxford University and University of Wisconsin), Claire Mason (Man Bites Dog), Les Binet (Adam & Eve DDB), John Almond, Richard Pash (Zurich UK)
Chair: David Cowan (The Financial Services Forum)
Alex Reidegeld, The Financial Services Forum
Twice a year FSF members come together for a half-day conference discussing the most pertinent topics in FS marketing. The second of our conferences in 2018 focussed on marketing strategies in an increasingly digital world and how this impacts business of different maturity, size, complexity and markets.
Thought Leadership as the key differentiator between brands
- From the outside, all FS providers look the same to consumers; similar products, similar online and app presence and similar services
- Innovative ideas and thought leadership content are the only way to create differentiation and set yourself apart
- In a time where disruptive innovators have more credibility than traditional companies, established FS brands can no longer rely on history and heritage to ensure future success
Invest in brand building for long-term growth
- Marketers have a choice of two marketing strategies: Brand activation and brand building
- Brand activation can generate an immediate sales response for short-term growth spikes that is evident for around six months
- Brand building takes time and its impact on growth is often only apparent in the long-term; around two years or more
- An established brand leads to a long-term growth in base sales and reduces consumers’ price sensitivity (willing to pay more for a known and trusted brand)
- Brand activation and brand building can work together: loyalty-first marketing strategies under-perform in all sectors, so market penetration first will be more efficient at driving growth
- Data shows a “sweet spot” of a 60:40 ratio where companies that invest 60% of their marketing budget in brand building see the most ROI
Build your brand around your core values and purpose
- Understand why your business exists and how it became successful in the first place
- Ask your customers what their problems are and not what you would like their problems to be. Create insight based on segments of your customers so you can offer bespoke solutions to ach group
- If you combine your reason for being with the consumer insight you can understand your natural fit within the market, allowing you to tailor your product
Save the Date for our Spring Conference:
- Wednesday, 27 March 2019
- 09:00-14:00
- BT Centre, 81 Newgate Street, London
Upcoming Events
20 November: Pensions dashboard – will it be a game-changer?
22 November: Appraising Fintechs: Performance Lessons and their Path to Sustainability
3 December: London Mortgages Forum
