Financial brands struggle to appeal emotionally
The optimum balance between brand building and activation is 60:40, according to a report by the Institute of Practitioners in Advertising.
Yet, financial services have an 80% split towards brand building, due to it being more difficult for financial advertisers to make brands emotionally appealing, the report said.
The IPA added that consumers tend to choose financial products such as mortgages after consideration of rational factors, such as interest rates and fees, rather than those based on emotion.
The report is part of a wider cross-marketing initiative designed to support more effective advertising.
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