Banking Sector: Time to rethink marketing's purpose?

12.06.2020

Marketing is delivering, but is it time to rethink its purpose?

By Jacob Howard, chair of CIM's Financial Services sector interest group

It’s clear, marketing as a profession suffers under a strange cloud of definition. Each sector I’ve worked with has had a different concept of what the profession stands for and its purpose within the business. FinTech and financial services are no different. 

So why is this? Research from a range of leading organisations reveal that a lack of upskilling and development over the years has contributed to a lack of understanding of marketing, creating a multitude of definitions and no clear identity for the profession. CIM’s own research into the views of 1,200 people found: Just 23% of respondents believed their colleagues had a firm idea of what marketing was. More than half (53%) of those surveyed agreed that their roles were poorly understood by society as a whole and 36% believe those outside marketing don’t understand the value of marketing specifically to the organisation.

To read Jacob Howard's full article with Banking Sector, click here: https://www.bankingsector.co.uk/2020/06/10/marketing-is-delivering-but-is-it-time-to-rethink-its-purpose/

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