Why financial and professional service firms choose to in-house.
Posted almost 3 years ago by Steve Smaylen
The trend for in-housing marketing and creative talent is something that’s been on our radar for some time. Though a consistently evolving trend, it appears to be more prominent in areas like financial and professional services in the in-house market rather than those more consumer centric brands.
Why do financial and professional service firms chose to in-house rather than use agencies?
A large element of this is centralised around control. Some companies have a very clear idea on where they see their marketing strategy going and choose to grow their marketing teams internally to help achieve their vision.
To drive success, many brands employ skills in corporate communications, campaign management, CRM and digital marketing, effectively creating their own mini agency internally which allows them to retain control over messaging strategies, project timelines and retains focus on the brands vision.
How do you see creative/communications agencies playing a role in the financial and professional services sectors?
Though some financial and professional service firms may have a preference for in-housing their marketing and communications functions, sometimes there can be a gap on the creativity side.
With the ever growing shift towards more digital communications and consumers becoming more conscious of brand activities, agencies can play a huge part in delivering a multitude of services around elements such as branding and design. Alongside this they can play a consultative role to businesses, advising on strategies and best courses of action for those who have in-housed creative talent.
We’re also seeing an upwards trend for in-house brands hiring marketing executives and managers to help execute strategies, but are using agency relationships to do a lot of the heavy lifting including content creation.
Whether a financial and professional services firm decides to in-house talent or utilise the expertise of an agency relies entirely on their company strategy.
