Time is of the essence when it comes to the financial services industry.
From fluctuating foreign exchange rates to new digital banking offerings, ensuring people have the right information at the right time is important.
For marketers who hold responsibility for updating the organisation’s website with such messages, Content Management Systems (CMSs) are a vital part of their marketing toolbox.
We know that the CMS sector is growing. Data shows that in 2022, the market was valued at £19 billion and is predicted to grow to £27 billion by 2028.
The sector’s swift growth was undoubtedly fuelled by the rapid evolution of the e-commerce sector, boom in new businesses and startups, and a shift in focus to online marketing. The increase in IT budgets across the board will also have played a role.
Our brand-new report, The Content Management System market in 2023: what financial services marketers really think, explores how marketers are – and could be better about – using their CMSs; it is available to download here
We spoke to 254 CMOs and senior marketing leaders across banking, financial services, insurance, reinsurance, and wealth management sectors across the UK seeking to understand what makes them tick when it comes to their CMS – particularly for the 74% using one on a day-to-day basis.
The report also offers tips to overcome any challenges that they face – with security, ease of use, regulatory compliance, and staying in-line with brand guidelines all appearing at the top of the list.
Key findings from the report:
- Despite the highly sensitive nature of information and regulatory requirements in the financial services industry, just 30% said platform security is a priority. This was particularly notable as half of those surveyed admitted to suffering a data breach within the past three years, a number that increased in the banking (61%) and wealth management (68%) sectors.
- The vast majority (88%) of senior marketers use multiple CMS platforms – even though this could lead to security issues and challenges getting the message out to market.
- The international nature of the financial services industry has driven many of them to use multiple CMSs, especially those with over 1000 employees. But regardless of size, organisations demanded the same things from their platform: ease of use (47%), compliance-driven content to ensure accuracy (42%), and the ability to enforce brand guidelines (38%).
- Some of the top challenges identified were: delays when uploading content (35%), integration hiccups with other systems in their organisation (34%), and lengthy update times (31%) that prevent organisations get the right content out at the right time.
With the report outlining clear takeaways to take forward, we hope to leave those in senior marketing positions in the financial services sector with the know-how on what to look out for from a CMS.
How do you stack up against your peers? Download The Content Management System market in 2023: what financial services marketers really think here
