What financial services companies can learn from marketing agencies

Bart Burggraaf

“It is so very important you find staff and partners that know and understand your business – without this experience you would be very lucky to get any results the first couple of campaigns around” – Bart Burggraaf, Managing Partner, MediaGroup Worldwide.

Bart Burggraaf, Partner at MediaGroup London, is a widely regarded specialist and expert in managing marketing strategies for the FX industry. Here he goes into detail about how the experience garnered within marketing agencies can be imparted to the financial services sector

I’d like to think brands work with agencies because of some spark of genius they would be unable to find among their own employees. Ideas that only they hold the key to that promise to transform a business and bring in mountains of new business. Alas, while the mentioned is definitely part of the reason brands (should) work with agencies, the real reasons are mostly related to buying power, process standardisation, specialisation and experience. I’ll explain each in turn and discuss what brands can do to emulate this in the marketing department or other areas of their business.

Buying power is a term mostly used to describe agencies that buy from the same publishers for several brands and so are able to leverage their large budgets to get better pricing. Companies looking to do advertising themselves or use this principle in other areas of their business should consider appointing a vendor manager who is in charge of negotiations and contract formalizations.

Bart Burggraaf

While ideally everyone in the company keeps a sharp eye on the purse strings, incentives are not always aligned to do so, and brands can benefit from centralizing this function to some degree. At the very least, for the vendors that are essential, make long term contracts to get better pricing over flexibility.

Process standardisation and specialisation is probably the most interesting part that brands can learn from agencies. How is it that agencies are able to perform services such as buying advertising for all those clients, report and optimize, strategize and so on, with relatively lean teams?

The key is in specialisation and standardisation of processes. For instance, when it comes time to build and execute a mediaplan, everyone knows what to do. Account managers brief after talking to a client, the planning team plans and negotiates, the trafficking team gets the ads live and with the publishers, accounts do invoicing and administration and the reporting and optimization team reports results back to account managers while account managers talk to the client.

It’s a smooth process and it works because everyone covers a part of the journey. There are tightly defined job roles that everyone fulfils and execution is almost military in nature. Brands can emulate this process not by hiring entire teams, but at least by dividing up tasks among dedicated specialized staff for all countries rather than having one person per country to do all of ‘online’ – for instance.

Experience is a big one too. In my opinion the best agencies focus on specific markets and/or industries. No one can know everything and while I am proud of the marketing agency we have built, we don’t pretend to be experts in industrial waste management marketing or some such subject. Believe it or not there are agencies out there that specialize in your industry and failing that, there might be staff at agencies that have relevant experiences for most industries.

It is so very important you find staff and partners that know and understand your business – without this experience you would be very lucky to get any results the first couple of campaigns around. So the same goes for your staff. There is more than enough experienced staff out there in your industry, whether it is payments, fintech, brokerages or banking. Still, I see so many companies hire graduates or people from completely different industries. Why? To save a few bucks? Not a good enough reason, especially not for functions that touch high budgets.

So that leaves me to say that while these are all great things to learn from, by no means are all agencies perfect, so don’t take the emulation too far. Your company structure and working methods still need to fit your brand and culture, nothing is more important for your long term success.

Read this next


BVNK launches Swift payments to move between fiat and stablecoins

“Adding USD and EUR via Swift means that our customers can really take full advantage of stablecoins to speed up their money movement, wherever they are based – and they can easily get back into fiat currencies if and where they need to.”

Market News

Base metals could soon take off from the base again

Dive into our full analysis to understand the potential resurgence of base metals and what it could mean for your investment strategy.

Digital Assets

Global clamp down on crypto tax evasion to go live in 2027

“As jurisdictions that play host to active crypto markets, we therefore intend to work towards swiftly transposing the CARF into domestic law and activating exchange agreements in time for exchanges to commence by 2027.”

Digital Assets

Ripple and Archax team up for tokenization with XRPL

“There is clear real-world utility in use cases like RWA tokenization for the operational efficiency, access to liquid markets and transparency inherent to crypto, and Archax has already tokenized assets such as equities, debt instruments and money market funds. Financial institutions are now understanding this and we are excited to play our part in helping them to embrace the technology by bringing their assets onto the XRPL.”


Acuity Trading at iFX EXPO LATAM: Andrew Lane on the rise of AI and prop trading

At iFX EXPO LATAM 2024, Acuity Trading’s Andrew Lane discussed the successful rollout of their Research Terminal, the impact of AI on the trading industry, competition from AI-powered solutions, emerging market trends in Latin America, and the rise of prop trading, while addressing regulatory challenges and innovations.


Top Crypto Highlights for Q2 2024: BlockDAG’s Astonishing 1120% Growth Compared to Solana’s Surge and Toncoin’s Market Triumph

Explore the latest highlights in cryptocurrency: Solana’s recovery, Toncoin’s record levels, and the rise of BlockDAG’s innovative technology.

Digital Assets

Ripple seeks $10 million penalty citing Terraform fine in SEC case

Ripple Labs wants to reduce the financial penalties proposed by the U.S. Securities and Exchange Commission (SEC) by leveraging recent fines imposed on Terraform Labs.

Digital Assets

Swiss regulator shuts down CoinShares’ partially-owned FlowBank

Switzerland’s financial regulator, FINMA, has closed FlowBank SA and placed it into bankruptcy due to severe breaches of capital requirements and other supervisory laws. This follows a series of enforcement actions against the bank that began in October 2021.


Presale Power Players: 5 Crypto Presales Primed for Success in 2024 According to Experts

Unlock the potential of the best presale cryptos available now. See why experts recommend BlockDAG, Bitbot, eTukTuk, 99Bitcoins Token, and ButtChain.