CIM Takes a Bite of the Big Apple: Financial Marketing Insights from New York

Following a successful annual series of Financial Services Marketing Leaders’ Summits in London, the Chair of the CIM Financial Services Group, Jacob Howard FCIM, talked with us about the success of the inaugural New York Financial Services Marketing Leaders’ Summit that took place on 4th December 2024 at Reuters in Times Square.

Since 2019, the FS Marketing Leaders’ Summits has brought together industry leaders to discuss the future of financial services marketing, with the support of the Chartered Institute of Marketing, the World Media Group and EI Advisory. As in London, we were pleased to have 75 senior financial services marketers in the room sharing best practices and discussing a wide range of topics, highlighting key trends and insights that are shaping the industry.

Digital Transformation in Financial Services

One of the central themes of the Summit was the growing role of digital transformation. The opening remarks by Reuters’ CMO, Josh London, underscored the importance of innovation and collaboration in the ever-evolving financial services industry. The discussion highlighted how technologies such as artificial intelligence (AI) and automation are revolutionizing the sector. These advancements enable more personalised customer experiences and streamline operational processes, making it essential for financial institutions to embrace digital transformation.

Leveraging Sports Marketing

A notable theme was the rise of sports marketing in financial services. The CMOs of Broadridge, Blue Owl Capital and Clear Street discussed how brands are leveraging sports partnerships to drive visibility and align with values of excellence and innovation. The panel underscored the importance of measuring the return on investment (ROI) and the overall impact of sports marketing initiatives. They shared insights on tracking metrics such as brand awareness, customer engagement, and conversion rates, and emphasised the importance of aligning brand values with sports entities to create resonant and impactful partnerships.

Building Trust

Trust remains a cornerstone of financial services, and the summit provided a platform for discussing how to build and maintain it. There were varied marketing perspectives from a startup (PensionBee), an academic (Fordham University Gabelli School of Business) and an investment bank (Oppenheimer & Co. Inc.) sharing strategies for fostering trust through clear communication, robust client relationship management practices, and empowering clients with knowledge. The discussion highlighted the need for financial institutions to maintain a human touch, even as they adopt more digital tools. Authentic connections, empathy, and understanding clients' unique needs were identified as key factors in building long-term trust.

Macro Trends Impacting Marketing Strategies and Journalism

Leading financial editors from Reuters and The Atlantic provided insights into the macro trends affecting the financial services industry. Discussions centered on how economic uncertainty and geopolitical events are shaping marketing strategies. The rise of tech platforms and social media influencers was another significant trend, highlighting the shift from traditional journalism to new media. The importance of maintaining ethical standards and objectivity in content was emphasized, as these platforms are now effectively the new mainstream media.

Team Management and Innovation

The summit also addressed the challenges of managing marketing teams in the current climate. CMOs from PGIM and The Clearing House focused on organizational design, the benefits of hiring from outside the industry, navigating hybrid work models, and leveraging specialized agencies. The emphasis was on integrating marketing and communications teams to drive cohesive storytelling and content strategies, as well as balancing in-person collaboration with the flexibility of hybrid work models.

Effective Account-Based Marketing (ABM) Strategies

Account-Based Marketing (ABM) was another key topic, with insights shared on building successful ABM strategies at JP Morgan and Ascensus. The discussion highlighted the importance of targeting high-value accounts, personalizing marketing efforts, and aligning sales and marketing teams. Collaboration between these teams was identified as crucial for driving successful outcomes.

The Future of Financial Services Marketing

The Summit was enjoyed by all with rave reviews shared on LinkedIn. Looking ahead, we are excited to announce that there will be further Summits in 2025 in both Singapore and again in New York. The 2025 UK Financial Services Marketing Leaders' Summit is once again planned to be held in mid-May at Reuters in Canary Wharf. We look forward to continuing the conversation and driving forward the future of financial services marketing.

The agenda or the next event is now live, and several speakers have already been confirmed from HSBC and SWIFT. You can find out more details and to stay up-to-date below.

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