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Cognito survey – Financial technology firms ramp up spend on content, brand and digital marketing
Cognito, an international financial services communications and marketing agency, today released the results of The 2022 Cognito Financial Technology Senior Marketer Survey.
The survey is the result of input from 75+ in-house marketing and communications leaders – from organizations across EMEA, the US and APAC – in the financial technology sector. Respondents were asked about how they planned to address strategic business challenges and their views on marketing tactics and channels.
More than 85% of respondents said that accelerating growth was their top priority, and organizations are allocating more resources to fund these ambitions. Nearly 40% said they expected marketing spend to rise more than 20% in the year ahead, with another fifth planning for a rise of between 10% and 20%.
The most cited areas for additional resources were content/thought leadership (68%) and digital marketing (69%). ESG standards and sustainability (75%) and cybersecurity are increasing (65%) in importance for the vast majority of respondents, followed by workforce diversity and inclusion (56%) and cloud (56%).
Other key findings of the survey included:
- Earned media coverage was the most important element of marketing and communications campaign, with 70% saying it was “extremely” or “very” important
- The Financial Times was cited as the most important media outlet or segment, outranking the second-placed Wall Street Journal
- Short form blog posts and articles were seen as the most effective format, followed by interactive digital experiences, animated videos and infographics
- Industry events should move forward on a hybrid basis – this was the clear preference when asked about leading summits such as AFP, Money 20/20, Sibos and the Singapore Fintech Festival
Report co-author and Cognito Vice Chairman Andrew Marshall said: “The planned rise in spending on marketing and communications shows both the extremely competitive nature of the market and also the value derived from the function. We see an industry unafraid to shift priorities, focusing resources on areas and tactics that deliver results. At Cognito we are proud to be strategic partners to many brands in this industry and look forward to enhanced partnerships in the year to come.”
The full report is available here.
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