Financial Marketers Cite Lack of Resources as Greatest Challenge For Campaigns

According to a new survey of more than 100 marketing executives from large financial institutions, more than half of respondents found that their biggest marketing challenge is having the resources needed in order to build more sophisticated campaigns.

As technological advancements give customers the ability to connect with banks anytime, anywhere, financial industry professionals are struggling to stay abreast of the seemingly insurmountable amount of data at their fingertips. There are enormous opportunities to solidify a company’s position in the marketplace by delivering measurable business results. And thanks to big data, those results are ever more achievable.

MP900315620However, according to the 2013 NetFinance survey, 77% of financial marketing executives believe they’re not able to access or act on information due to the amount of systems, lack of time and lack of resources to manage the data already available to them.

The NetFinance team worked with Act-On, the company behind best-in-class marketing automation strategies for many leading brands, to craft the questionnaire, which evaluated current needs, risks and opportunities for institutions and professionals in the marketing automation realm. In addition to revealing statistics about marketing challenges, the survey also uncovers trends in data segmentation, overall marketing spend and more. A highlight of the findings includes the following:

– 64% of those surveyed consider the 360-degree view of the customer very important, but find it difficult to get the accurate results and behavioral data.

– When listing their concerns with the tools being used at their respective companies, 45% cited a product’s ease of use as the top priority.

73% of Financial Marketers See Lead Nurturing Making Inroads at their Companies

NetFinance, the Digital Marketing Conference for Financial Marketing Executives, has compiled its 2013 Trends Report, with the help of professionals from companies including Bank Of America, AllState, Wells Fargo, Moven, BlackRock.

Read the 2013 Trends Report to see how industry experts are evaluating their needs, risks and opportunities in order to turn unstructured data into structured, measurable data and to deliver real-time business insights for their institutions.