Jun 27, 2019
Not the easiest job
As we’ve already established, marketing a financial services business isn’t the easiest job in the world.
Your product is pretty complex, which means that most people will never understand the ins and outs of it, and compliance means that every single piece of copy will be pored over with a fine toothcomb.
And that’s before you start to consider who is actually going to be doing the marketing.
You see, generally speaking, there are two schools of thought about marketing in the financial sector.
Some companies choose to hire their own marketing staff, while others choose to outsource to agencies.
And I’ll be totally honest – there are pros and cons to both approaches.
But what I’ve found is that majority of our clients choose to go the agency route for three reasons:
#1 Fresh creative
As the saying goes, “if you always do what you’ve always done, you’ll always get what you’ve always got”, and this is never truer than in marketing.
It’s very easy to fall into a “this is the way we do things around here” mantra within a financial services company, and this can stunt growth, inspiration and new ideas.
Our clients value working with us because we bring new and fresh ideas to the table, helping them to market their products in ways they’d never have thought of.
#2 Industry knowledge
It’s difficult to hire marketing people, and it’s even more challenging to hire marketing people who know how to create marketing for the financial services sector; marketing that resonates with the recipient whilst still staying on the right side of compliance.
Lots of the companies we work with choose to work with us because we’re proven, we’ve done it before and we know what actually works to generate leads and make sales; unlike a marketing graduate who might have a degree but has no experience in financial services.
#3 Smaller investment
Hiring staff is expensive, and that’s before you take into account all the additional costs above and beyond salary.
Employees equal holiday pay, payroll tax, pension contributions and general administration, as well as the additional HR cost, but with an agency, none of those costs come into the equation.
If any of this resonates with you, and you’d welcome a conversation about how we can help improve your marketing while saving you time and money, please contact our branding team or email dave@financestream.co
