Being a good marketing manager – it’s a challenge. With customer expectations, potential marketing channels and the wider landscape constantly evolving and growing, keeping pace is a full-time job.
Then overlay that with the need to comply with numerous industry-specific regulations.
If you are a marketing professional in a regulated firm, regulatory compliance adds another layer to an already complex role.
Here we look at how you can take on the challenge of regulated marketing and emerge victorious.
Keep pace with change...
A recent report suggested that UK marketers are failing when it comes to innovation – don’t let this be you. Not all new channels or delivery methods will suit your business, but it’s worth exploring them to see which will.
Regulated marketers – constrained by legislation and often part of businesses with no strong drive for innovation – can often be behind the curve when it comes to new approaches. Professional services marketers aren’t always making the most of digital. Our tips on exploiting digital transformation in banking and minimising risk in digital transformation might be helpful if you want to get ahead here.
Best practice in any new channel or approach is essential. Our blog on the state of social media in 2018 has advice for success on Twitter and Linkedin, while our round-up of the 7 SEO mistakes you need to avoid will give your website the exposure it deserves.
...But stay aware of the potential downsides
Any new channel or approach, though, comes with its own challenges. In the fast-moving world of social media, it can be harder than ever to protect your reputation. Read our blog on why it’s so easy to destroy brand reputation, and how to avoid it to make sure this doesn’t happen to you.
Master best practice time management
Your role is hectic, pressurised and needs someone who can juggle the range of tasks thrown at you.
Make use of the data at your disposal to fine-tune your approach, reducing ineffective activity and improving ROI – for instance, by using your social media data to inform a winning content marketing strategy.
Don’t be afraid to emulate others
It’s said that nothing is new in the world of marketing, and while this might not be quite true, there are certainly lessons you can learn from others. Look at how the best global brands have achieved their success and see how you can emulate them.
Forget compliance at your peril
Of course, the thing that stands regulated marketers apart from their non-regulated colleagues is the need for compliance with industry rules. Marketing compliance matters – so make sure your approach is up to scratch.
Ensuring your digital asset management is on point is vital – colleagues won’t be tempted to go ‘off-piste’ with non-compliant content or branding if they can easily find the documents they’re looking for. Read more about why the time people waste looking for documents is a marketing compliance issue.
When it comes to producing financial promotions, knowing how to write content your Compliance colleagues can approve first-time will help you to get materials out to the market faster, while having a best practice approval process removes inefficiency at sign-off stage.
And remember the regulations that all marketers need to comply with
The ASA and CAP set rules for, and regulate, all advertising activity in the UK, whether or not you are already governed by your own industry regulator. Their rules cover everything from misleading advertising to influencer marketing. Make sure you’re aware of their remit and latest rules.
Marketing isn’t an easy ride, and for the regulated Marketing Manager, life can be trickier still. Follow these tips and you will be on your way to performing even better. To read more about the evolving challenges facing financial services Marketing Managers, you can download our free whitepaper, The changing role of the financial services Marketing Manager. The whitepaper is free to download here.
Nothing in this document should be treated as an authoritative statement of the law. Action should not be taken as a result of this document alone. We make no warranty and accept no responsibility for consequences arising from relying on this document.