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BizReport : Advertising archives : November 10, 2014

Financial services industry failing to embrace creative cultural change

A new study, from global digital agency Dog, and conducted by 72Point, lays bare "some of the major issues affecting the financial services sector", of which a lack of conviction that the financial services industry is a creative industry is perhaps the most worrying.

by Helen Leggatt

The survey involved 200 marketing, advertising, PR and specialist digital creatives working within the financial services industry in the UK. Just 1% felt their work was valued by their company.

Furthermore, just 2% felt they had the support of the boardroom when it came to creativity and only 9% felt their company had a forward thinking mentality in that regard.

Over half of survey respondents viewed poor integration with other areas of the business as the biggest barrier to their effectiveness as a creative professional, while only 8% consider marketing and communications functions in their organisations to be well integrated and connected.

"The survey makes for extremely interesting reading, laying bare some of the major issues affecting the financial services sector," said Gerry McCusker, Managing Director of Dog. "With opportunities to engage target audiences with multichannel creative content growing at pace, it's a shame that the majority of respondents do not believe that the financial services is a creative industry, and only 7% believe that their creative skills are being fully valued and utilised. Coupled with the documented lack of strategic collaboration across the business, this is definitely holding back an industry that has the potential to be truly creative and must leave marketers feeling frustrated."

Tags: brand, creative, financial services, marketing

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