Financial services organisations are failing to embrace creativity as a means of increasing digital marketplace share, according to a study from global digital agency, Dog.
The snapshot survey, conducted by 72Point, interviewed 200 marketing, advertising, PR and specialist digital creatives within the UK financial services sector and found that only one per cent of respondents felt their work was valued by their company.
Only two per cent of respondents claimed to have the support of the boardroom on the creative front and only nine per cent said their company had a forward thinking mentality in this realm.
Over half said they felt creative was poorly integrated with the rest of their firms. On the other hand, only eight per cent said the felt their department was connected with others.
David Cowan, managing director of the Financial Services Forum, said: “While the industry has advanced significantly, financial services organisations are still not fully engaging with creative marketing strategies at group board level.
“This has created a disconnection of creative strategy and brand communication as an integrated business principal at a time when the digital landscape is redefining our industry.”
Cowan added: “The challenge, backed up by Dog’s research, is for marketers to prove business impact and for CEOs to be more open to what creative solutions can do for their companies.”
Gerry McCusker, managing director of Dog, added: “The survey laid bare some of the major issues affecting the financial services sector - with opportunities to engage target audiences with multi channel 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.
“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.”