Exploring alternative marketing methods for the financial investment industry

Abstract

As the financial and banking service in South Africa is making history with regard to marketing and using technology in order to cater to their clients’ every need, it is evident that the investment sector is lacking in this regard. Investment marketing as such has not changed much over the past decade, as brokers are the main point of contact between investment houses and the client. The problem that this creates is that the broker will push the products that will give him better returns without considering and collecting data to adapt investment packages to fit the personal goal of the client. This inspired the research into the alternative marketing methods for modern financial investment markets in South Africa. The aim of this research was to determine whether there is a need among potential investors for a change in the marketing of investments. To ensure the data was applicable, the process had to be stringent because of a lack of data in this particular field. Firstly, a literature study was conducted to observe which forms of marketing customers react to best within the financial and banking sector, which is similar to the investment industry. From the literature study, questionnaires were designed and sent out to more than 100 targeted individuals within the target market requirements. The data was analysed and compered to current marketing strategies of investment houses. It is clear from the findings that there should be changes made in the manner in which investment houses market and communicate with their target audience. Key focus areas are visual stimulation, interactive platforms and educating the target market