Marketers should move away from telling customers what to think and instead focus on showing them through meaningful action, according to Goldman Sachs’ global head of marketing.
Speaking at Money 20/20 Europe, Anouschka Elliot said effective marketing isn’t about bold declarations but about demonstrating values through behaviour. She pointed to examples across the banking sector where this approach has helped build stronger customer connections.
During the panel, she noted that many businesses try to shortcut the process by asking marketers to position them as trusted leaders or innovators.
However, she emphasised that to be seen as innovative, companies need to demonstrate it through their actions, not just claim the title.
She pointed to Monzo as an example, highlighting how the bank’s unconventional credit card design signalled its innovative approach. Customers recognised this for themselves so there was no need for a major campaign declaring the brand as innovative, she added.
She said: “They were the first ones to do a credit card in portrait. That’s showing, really visibly through your brand, that you’re innovative.”
Elliot also cited Revolut, noting that its slick interface, instant notifications and metal card subtly convey the brand’s innovative nature, without the need for a campaign to spell it out.
On building trust, Elliot stressed that it takes time and consistent credibility. It’s not something that can be achieved through a single campaign.
She acknowledged that things will inevitably go wrong in any organisation. What matters, she said, is being there for customers when it counts through a responsive, credible customer service team that actually picks up the phone.
That kind of reliability, she added, builds trust far more effectively than a marketing campaign that simply claims it.
She said: “It’s not about putting up a billboard saying, ‘You can trust us’ or ‘We don’t lie’. That’s not going to work with anybody.”
Similarly with leadership, Elliot said that it can’t be claimed, instead it is earned. Therefore, she advised marketers to prioritise reach and relevance to make their organisation the first brand customers think of and the hardest to forget.
She said: “My recommendation to people would be stop trying to position around innovation, trust and leadership. For innovation, build memorable brand experiences. Use that brand strategy as your operating principles and protocols. Trust to show up reliably and leadership.”