We asked some of our Members to tell us a little bit about themselves, and what they think about financial services marketing.
Matthew is Chief Marketing Officer of EMEA at Invesco Perpetual. He believes that the right blend of art and science can deliver game-changing commercial outcomes. In real life he has a wife and children, owns dogs and chickens, and even appears in his village panto!
What is your career history? I started as a graduate at JWT back in the late 80’s, enjoying the last hurrah of Mad Men style advertising. I then moved into the world of data and direct marketing before setting up my own digital agency, back in the days when digital was new and full of promise - lots of which has come to fruition. I then joined the M&C Saatchi Group, ending up as Chairman of their direct and data agency LIDA, working across the Europe, US and Asia. I worked with Invesco for 5 years before being asked to join the team in 2018.
Why marketing? Marketing has become a genuine fusion of creativity, data and technology, all co-mingling in a discipline that is coming of age as a serious and accountable source of differentiation and commercial value. It also takes you to the heart of human behaviour and attitudes.
What worries you about the future of Financial Services? I've not yet met a financial services company that doesn’t say it is customer-centric, but I have only met a handful who truly are and who have transformed their culture sufficiently to make this a reality. If the industry does not embrace customer-first thinking it will never turn around a public perception which is often at best one of indifference and sometimes one of outright hostility. We have the data to be the brands who best understand and deliver against our customers’ needs; that would be a terrible opportunity to squander.
What’s the best advice you have ever received? My first boss pointed out to me that ‘everyone approaches marketing with an open mouth’! I think that was right, you have to find a way to respect the opinions of others and to balance a whole range of inputs, but never lose your sense of conviction.
What advice would you give a marketer starting out today? So much of our future is going to be a digital one. Live in that world…learn how to code, meet some start-ups, start something up yourself, look all over the world for examples of digital brilliance.
If you could have any mentor, who would it be? Yuval Noah Harari. As someone who loves both history and has a fascination with people, his views on the future of the world and humanity are fascinating. If you've not read Sapiens and Homo Deus, please do.
Annabel is Global Brand Director and CMO for DirectAsia at Hiscox. She has nearly twenty five years’ marketing experience across a broad number of industries. She lives with her husband and two boys in West London.
What is your career history? I started my career on a Graduate scheme with SmithKline Beecham in Merseyside before moving to their head office in London to take up my first marketing role. Since then I have stayed in marketing, working across a wide range of products and industries including food (Burtons Biscuits) and soft drinks (Coca-Cola) . I have just clocked up ten years at Hiscox where I've had a variety of roles from UK Head of Marketing, to Global Brand Director and three months working for Direct Asia based in Singapore. Why marketing? Marketing gives you the opportunity to work across the whole business and use a broad range of skills; creative, commercial, communication and influencing skills to name but a few. You also have the critical role of representing the consumer. So you have to be on top of their changing needs and expectations, and be aware of how technology is changing the way that they engage with businesses and products.
What excites you about the future of Financial Services? The opportunity to work alongside Fintech start-ups and other consumer brands, and to use emerging technology to deliver a vastly improved customer service and experience .
What’s the best advice you have ever received? Ensure that you work for a company whose values reflect your own, don’t just focus in on the role. That way you will work in a culture that will enable you to be your best and you will also enjoy your job much more.
What advice would you give a marketer starting out today? I've learnt the most when I've taken risks; moving to a new industry and/ or working in a different country. It can be a challenging time but you learn a lot about your strengths and weaknesses and become very resourceful and self-sufficient. Also I would advise new marketers to look for opportunities where you can grow and develop and at the same time add real value to the business you are in. This could be by undertaking a secondment, taking a sideways move into a different area or even becoming involved in a high profile project.
What lessons could financial marketers learn from other sectors? I have purposely worked across a range of different sectors. Financial marketers should not constrain themselves by only looking from within our sector for inspiration or talent.
Piers is Head of Brand Planning at Direct Line Group.His goal is to make life better, more fulfilling and fun. Whether that’s making brands great, or helping his son win first place in a school project on ‘rocks’ by encouraging him to include a section on AC/DC and Metallica.
What is your career history? I took a PR Assistant role to pay the bills after finishing a law degree, and found that brands interest me far more than the law! I worked on brands like Audi and Carling, before moving in-house to Abbey, which later became Santander. That gave me the chance to broaden my marketing experience, learning about campaign delivery and brand strategy. I eventually became Head of Digital Marketing, before joining Post Office Financial Services and then the Post Office itself in various roles. I joined Direct Line Group in 2013, where I lead the development of our brand strategies.
Why marketing? Two reasons. First, I strongly believe that, done right, marketing makes things better for both customers and brands. It should make it easy for customers to find a product that meets their needs and gives them the best value for money, whatever sector you work in. Second, it’s fun!
What excites you about the future of Financial Services? The speed at which it’s using technology to better meet customers’ needs. Banks and insurance companies alike are finding ways to up their game.
What worries you about the future of Financial Services? Magpie syndrome. The constant threat of the industry being distracted by shiny new tech and losing sight of what can really make life better for customers.
What’s the best advice you have ever received? What’s important to you probably isn’t as big a deal for everyone else. So make your message as simple as possible and repeat it consistently whenever you can.
What advice would you give a marketer starting out today? Think really hard about why you want to be in marketing. Work out whether you are excited by creativity, hardcore analytics, both, or anything in between. Get some knowledge of the different types of marketing role. Network and ask people about the difference between in-house and agency life. Then plan your career entry with that goal in mind.
What key marketing skill will you develop over the next few years? I don’t think that any marketer can ever be good enough at marketing leadership. Our role is to be the voice of customers. Which means that we need to be brilliant about getting anyone and everyone in our businesses to understand their point of view. So I’m constantly thinking about how I can get better at influencing others to drive positive change.
Jet is Head of Marketing for End Investors at Fidelity International, whether they are workplace or personal investors. Her purpose is to help customers reach their life goals, and navigate what life might throw at them along the way (financially of course!).
What is your career history? I became a film producer after taking an Arts degree. Studying behaviour and psychology as part of this led to an interest in advertising so I moved from movies to marketing! I started in a small agency and learnt all I could about larger FMCG businesses, and then moved to corporate client side. I’ve been in Marketing now for over 30 years and I've worked across telecoms, charity, banking and asset management.
Why marketing? Because it is a blend of art and science, and it rewards the brave. It’s so easy to produce a sea of sameness in a category, and great brands are built on emotions and differentiation. And because no two days are the same, and no two brands are the same.
What excites you about the future of Financial Services? Digital disruption, and the importance of brand is increasing in a sector that has been very institutional in its business model e.g. make it and push it out to sell. Listening to customer needs and addressing emotional dynamics as well as mastering technology in an ever-changing environment means you have to be on the front foot. Marketing could transform this sector if we all get it right.
What worries you about the future of Financial Services? Digital disruption (again!), and the fact that, unlike other industries, CMO roles are few and far between in this sector. Those that do have a consumer banking part of the business that has demonstrated the worth of a marketing voice high up in the organisation. Digital won’t win the agenda alone, neither will technology. Those that combine these strengths with a strong brand (and a service level to match) will be the winners. The CTO and CMO need to be the best of friends!
What marketing skill will you develop over the next few years? Mastering any new black box technology that promises targeting but no one can tell me how the algorithms work. As Warren Buffet said ‘If you don’t understand it don’t invest in it’. This is the same with any new marketing technology that promises to be the next big saviour.
What lessons could we learn from other sectors? Digital and technology enables companies to enter your sector and become your biggest competitive threat. I saw this happen in telecoms, and I feel the same disruption is happening in financial services. So watch this space….