UK financial firms need better marketing

by Richard Kilner

Story link: UK financial firms need better marketing

Customer insight and database marketing specialist KDB had conducted research which reveals that most financial institutions in the UK need to improve their marketing and communications to capitalise upon opportunities, such as the resilient investment sector.

The firm surveyed 1,000 Britons, of which 71% stated they invest directly or through an advisor and 65% indicated they will be increasing the amount they invest this year.

KDB also found that the older people get the more likely they are to invest, but even the 18-24 year old bracket had more than half of people investing.

Generally, financial institutions are doing a poor job of marketing to investors, although there are geographical variations with London being better targeted.

Of concern to such firms is the fact that older adults, those most likely to invest, are being reached the least by marketing from financial institutions.

Chief Analyst Matt Boot has said that the survey’s finding do not bode well for financial firms, but added that there were substantial opportunities to be taken advantage of.