Finance marketers told ‘get your head out of your arse’ as extent of perception gap with consumers is revealed

In the wake of the Royal Commission, 6.54m Australians are open to switching banks, according to a study conducted by Yell Creative in partnership with Ipsos.

But that’s at odds with the industry’s perception of itself, with 70% of financial services marketers trusting the industry they work in, compared to just over 20% of customers, and more than half of marketers believing customer trust has increased since the Royal Commission, when in fact the opposite is true.

The State of Financial Marketing Report, the 2019 findings of which were presented by Nigel Roberts, co-founder and strategy lead of Yell, at Mumbrella’s Finance Marketing Summit, is in its fourth year. The survey involved more than 200 senior finance marketers (who were asked 16 questions) and 1,000 financial services customers (who were asked eight questions).