Create touchpoint value in financial services

Yoram Wind and Catharine Hays, with Alexa de los Reyes
Wharton School, U.Penn

Marketing Financial Services

This article is part of a series of articles on marketing financial services. Read more.

Financial services companies are faced not only with an innate lack of interest in their products and services allied to a hidebound resistance to change supplier, but since the global financial crisis they are also widely mistrusted. To overcome this, FS brands need to establish an engaging brand purpose, involve employees as brand ambassadors, orchestrate every touchpoint with the brand, and optimise each communication to match each consumer's needs.

As the relationships among brands, media, and people are being transformed at an unprecedented rate, the impact on the financial services market has been profound. Given the broad and irreversible impacts of these changes, it has become evident that the status quo is no longer a viable approach. This paper shares some insights from three CMOs in the financial services field. The innovative and effective approaches taken by Connie Weaver, EVP and CMO of TIAA, the US retirement fund provider, Beth Brady, CMO of Principal, the US mutual fund provider, and Mark Samuels, CMO of SEI, the investment manager, demonstrate what future-ready marketing looks like.