Financial Promoter: How have you seen marketing approaches change and adapt over your career?
Hazel Pitchers: Financial marketing has seen dramatic shifts. Previously, it took a more product-centric approach, was more focused on the professional investor and was perceived as a sales support function. Nowadays, we’ve become much more client-centric in our approach, blending data and personalisation with an emotional resonance. Financial marketers are now looking to market how a specific problem is solved, rather than what a product is. And we’re starting to be seen as a driver of growth, a true partner to the business.
FP: What has been the driving force of those changes?
HP: The biggest drivers are technology and the empowerment of the customer. People expect information at their fingertips in real time and in a format that is personal to them – their expectations have risen. And with that, our messages, the way we deliver them and how we cut through the noise have had to evolve. We have insight that we never had before.
These expectations demand both transparency and a seamless digital experience, forcing the c-suite to rethink the value of marketing and create a bigger role for the CMO. We’ve also seen the importance of building brands that are successful in capturing the hearts and minds of their existing and potential customers and their employees – resonance and differentiation have become crucial to success.
We’ve seen budget increases, specifically around content and digital marketing. The marketing talent pool has widened, with people coming from more diverse backgrounds and bringing fresh insights.
FP: Which aspect of your role has seen the most significant shift?
HP: Marketers now have a seat at the table – we’re much more commercial and strategic and valued for our role in growing firms. Digitalisation has enabled better data and insight and new ways to communicate with customers. Whether it’s campaign analytics, client segmentation or being more personalised with communication, everything we do is underpinned by insight, and that’s really been a game changer.
Certainly, for me, the role of brand, the role of technology, needing to truly understand the end customer, have transformed the way that I do my role.
FP: What advice would you give to someone starting out in financial services marketing today?
HP: Be curious but adaptable. The financial industry is evolving so fast, and so is marketing, especially with the growth of technology and AI. The jobs that we have today are not necessarily going to be the same in the next few years, so it’s going to be key to be able to blend creative thinking with analytical skills, but also not being afraid to dive into the data. Storytelling abilities and an understanding of the business and the financial product are important.
The successful financial services marketers of tomorrow are going to be those who are great communicators, understand how to work in tandem with their AI colleagues to get the best out of them, and can use data and insight to build commercial marketing and communications strategies that galvanise employees and customers alike.
FP: What advice would you give to CFOs and other budget-holders when assessing and allocating marketing and comms spend?
HP: Try to talk about investment rather than costs. Many CFOs or CEOs think of marketing as a cost centre. It’s not – it’s a long-term investment in your brand, the growth of your firm and client retention.
The value of marketing isn’t always immediate or easily measurable, especially in the B2B space, but brand reputation, client engagement and market positioning pay dividends in the long run. Innovative approaches and tools are constantly emerging, and marketing needs the freedom to experiment to stay ahead of the curve.
Hazel Pitchers is the founder of Merakiting Ltd and has more than 20 years’ experience in financial services marketing and comms.