Marketing is delivering, but is it time to rethink its purpose?

By Jacob Howard, chair of CIM's Financial Services sector interest group

It’s clear, marketing as a profession suffers under a strange cloud of definition. Each sector I’ve worked with has had a different concept of what the profession stands for and its purpose within the business. FinTech and financial services are no different. 

So why is this? Research from a range of leading organisations reveal that a lack of upskilling and development over the years has contributed to a lack of understanding of marketing, creating a multitude of definitions and no clear identity for the profession. CIM’s own research into the views of 1,200 people found: Just 23% of respondents believed their colleagues had a firm idea of what marketing was. More than half (53%) of those surveyed agreed that their roles were poorly understood by society as a whole and 36% believe those outside marketing don’t understand the value of marketing specifically to the organisation.

To read Jacob Howard's full article with Banking Sector, click here: https://www.bankingsector.co.uk/2020/06/10/marketing-is-delivering-but-is-it-time-to-rethink-its-purpose/