Financial marketing not prepared for the digital future
Most financial marketers are ill-equipped to succeed in the new world of digital marketing. Never before has the ability to learn new skills and competencies been so important. A modern marketing model must be applied and an always-on approach to learning must be embraced by marketers at all levels.
Over the past several years, the dynamics of financial marketing have changed dramatically. While the past was a combination of mass media and some direct channels, the addition of new channels and technologies has impacted not only the tools available, but also the skills required to be successful.
These changes create both challenges and opportunities for financial marketers as they need to see each new innovation application as a starting point for further developments and changes in consumer attitudes and behavior. Unfortunately, most marketing departments in financial services are staffed with marketers who are having difficulty keeping up with the transformation of marketing. This is a recipe for failure.
Today’s financial marketer needs to embrace the dynamics of modern marketing. According to eConsultancy, this includes competencies and capabilities around domains of expertise like data and analytics, customer experience, content, multichannel delivery and personalization.
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