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Financial marketers show more confidence

Confidence among senior financial marketers has soared since the end of last year, according to research carried out by the Financial Services Forum&#39s Financial Marketing Confidence index.

The index, based on research among the FS Forum&#39s 200 members, asks for their personal views, rather than official targets, of how a com-pany&#39s marketing activity could change over the next three months.

Results show that compared with three months ago, 60 per cent of senior financial marketers expect improvements in sales growth. A similar number of respondents, almost two-thirds, thought there would be no change in staffing levels over the next three months.

At the end of 2001, a third of the FS Forum&#39s members expected cuts in their overall expenditure, with many unsure how the marketplace would react to an economic slowdown. However, marketers are now in a more buoyant mood, with this figure down to 18 per cent.

FS Forum is also launching its inaugural awards, aimed at promoting best practice and rewarding marketing effectiveness.

Highlighting the need for marketing effectiveness, the Forum says that despite having ploughed almost £250m into TV advertising in the last four years, the UK major banks have noticed little change in their respective market share.

In fact, only three of the top 11 current and deposit acc-ount providers increased their proportion of the market from 1996 to 2000.

Chairman of the advisory board Anthony Thomsons says: “All our respondents are at the top of their respective fields and so their positive attitude will be filt-ered down throughout their companies, hopefully making everyone feel more secure in their positions.”

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