Marketing in Financial Services is different from classic Marketing school - it requires specific knowledge, specific experience in servies on one side and complex financial products on the other. Why is there a specific Marketing for Financial Services? Those classic marketing-tools defining Product, Place, Price and Promotion fail - that is why we use a different set of tools (7 P's)
Promotion fail in Financal Services. Why? Firstable we must realize financial services are not like selling a tangible product - it is more or less Invisible products. A part of the product is yourself as a person, yes even your client becomes part of the product. Imagine the newly bought golf club, propably judged as "bad", when the buyer did not get an introduction in ot by a golf professional.
Prices are often not transparent, and advertising messages require a specific vocabulary. Quality expectations are client centric - how do we meet demand, how do we fulfill expectations in the short term (evidence!) and last but not the least how do we show probable cause to fulfil the client´s expectation in the future?
FISECO consultants have been in leading functions in banking and insurance and in many projects they have solved several issues with success. They can share their view with yours for the outcome of "visual" results.
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