Advisor | March 2025
Advertising is the soul of commerce, yet the financial and insurance sector invests only 1% of the market in communication, which in Italy is worth around ten billion euros and among the top 20 spenders there is no financial consultancy network.
Since the financial consultancy sector is booming, racking up one collection record after another for years, one might deduce that it is not necessary to invest in advertising.
The best advertising is certainly done by customers with word of mouth, but there is no doubt that to strengthen one’s knowledge, reputation and to acquire market share, investing in communication is necessary.
There are two financial consultancy networks that invest significantly in advertising: Mediolanum and Fineco.
But there is news: in March an advertising campaign by Fideuram Intesa Sanpaolo, the market leader, will start, this is good news, because when the leader moves, the market wakes up.
If financial consultancy wants to continue to make converts, it is necessary to make itself known also compared to traditional banks; just consider that in terms of knowledge, the first bank is over five times more cited than the first network, the difference is even greater among young people.
Some networks have broken the silence especially to communicate the change of name and strategic positioning, think of Zurich Bank, Credem Euromobiliare Private Banking and Mediobanca Premier.
For the future, it is hoped that BPER, ING, TNB di Azimut and Widiba will invest significantly. Allianz, BNL BNP Paribas and Generali benefit from the brand awareness of the groups they belong to even if they could certainly benefit further from greater ad hoc activity.
Communication, especially that aimed at the general public, then requires continuity: making a commercial every now and then is not enough to build a brand identity, the frequency of the message is fundamental.
Communication is multi-media: television, social networks, Internet, billboards, totems, podcasts, daily and periodical press, integrated with meetings in the area with current and potential customers, conventions, sponsorships and participation in events, fairs and sector shows.
The role of “brand ambassador” of every financial advisor is increasingly important given the massive use of social networks: the firepower is unimaginable, especially if it is coordinated and organized in concert with the client.
It is interesting to analyze the content of the communication, there are those who prefer to invest in product campaigns with a more immediate return, especially during specific promotions, and those who mainly aim to strengthen their brand identity and reputation.
The two communication strategies – brand or product – can coexist: everything depends on the effectiveness of the campaign and the objectives that are set.
To give value to the brand and define its brand equity it is therefore essential to consider three factors that are inextricably linked: the visibility heritage (knowledge), the image (brand image) and the consideration (ability to acquire customers).
Giving voice to financial advice is now more appropriate than ever also in light of the revolution underway in the banking sector: the epochal evolution we are witnessing and the current banking risk will change the face of the industry.
As a very effective Fineco advertisement says, change is positive, so: if not now, when?
Nicola Ronchetti