Marketing financial products used to be a story of optimism and opportunity. ‘Growth storytelling’ was the name of the game. Globalisation was in full swing, Larry Fink was pioneering a more wholesome view of fiduciary duty, ESG was the acronym of the decade and making the world a better place was a complement to making it more opulent, not a trade-off.

Over the last year, that changed. From global trade frictions to developments in the Middle East, growth storytelling has fallen apart – not because it no longer makes sense, but because fewer people feel the optimism it was built on.

It has been replaced by something altogether more pessimistic: risk navigation.

Human beings are so psychologically programmed to avoid risk that the pain of losing is felt roughly twice as intensely as the joy of winning.

Marketing to a sombre marketplace

As a theme, navigating risk is no less interesting than telling stories of growth, it’s just less fun. In fact, human beings are so psychologically programmed to avoid risk that the pain of losing is felt roughly twice as intensely as the joy of winning. Marketers have been leaning on FUD (fear uncertainty and doubt) tactics for generations for this very reason.

But when does risk marketing become opportunistic ambulance chasing, and when is it a reasonable response to long-term market conditions?

The answer lies in the seriousness with which we approach the challenges. Bad news demands deep deliberation and, latterly, big picture thinking. Marketers must engage with these themes because they shape corporate voices – and corporations largely define how the impacts of global events are felt. But for marketers to engage productively is more difficult.

Here are our three golden rules for storytelling in a heavy-hearted world:

• Move the conversation forward: A business expert’s viewpoint was interesting in a growth storytelling environment. Now, it has to make a material contribution to the challenge at hand.
  
• Provide robust, useful insight: Individual opinions are subjective, while credible research is objective. When the stakes are high, insights must be practical, objective and obviously valuable.
  
• Know where you do and don’t have the authority to speak: Ambulance chasing is to 2026 what greenwashing was to the past five years. Ideas are great, but the authority to voice them is mandatory.

If you want to discuss any of these themes or think creatively about how your own marketing needs to respond to the grave new world, please get in touch, we'd love to help.

In our webinar, ‘Return on Inclusion’, Man Bites Dog’s Divisional Director, Duncan Sparke, and Associate Director, Lauren Street were joined by financial services industry experts Farmida Bi CBE, from Norton Rose Fulbright, and Dominic Traynor, from BNY Mellon. The session covered how the financial services industry has the ability to not only advocate for major societal change, but to power it. For that reason, no-one else can quite match the potential of financial services marketers to catalyse progress.

To catch up on the webinar, watch the recording below.

The panel discussed the importance of creating impactful social purpose campaigns that cut through the noise. The problem with social impact campaigns, however, is that having a widespread real-world impact doesn’t happen overnight. Our webinar looked at the success factors in building a truly impactful social purpose marketing campaign, and unpacked one particular campaign that echoed around the world: BNY Mellon Investment Management’s The Pathway to Inclusive Investment – flipping the narrative from one of individual risk to one of global opportunity.

The webinar centered around the financial services sector and the pivotal role it can play in fostering positive social change. It touched on the importance of addressing the gender investment gap, and the intersectional complexities that play a role – from culture, and ethnicity, to socio-economic opportunity. The combination of these challenges and financial services’ ability to drive social evolution is a vital interplay.

The topics discussed during the webinar helped to illustrate the importance of the industry engaging with governments, and educational institutions, in an effort to tackle the societal pressures that sit at the cause of the investment gap dilemma.

An example of a purpose-led thought leadership campaign that successfully followed these principles is BNY Mellon Investment Management’s The Pathway to Inclusive Investment developed in partnership with Man Bites Dog. This social impact campaign is the largest study into global female financial inclusion. It found that the investment industry excludes 72% of women, and costs the global economy more than $3.22 trillion. It found that solving the inclusion crisis would open up an additional 1.86 trillion to fund climate and social investment aims.

During the Q&A session, several critical topics were addressed such as: 

• The influence of data-backed campaigns with a social lens on organisations and the wider audience.
• How to avoid ‘purpose washing’.
• How to encourage commitment from decision makers when a financial return is not the goal.
• The challenges that need to be overcome to achieve a sustainable financial services industry.

Organisations need to be committed to the long-term result with social impact campaigns. Having leadership buy-in and setting the parameters of success as real-world change beyond the immediate top-line advantage is crucial. Cutting through the noise, and delivering a campaign that is truly impactful, with data-driven insights is key in turning the dial on change. 

To kickstart your brand's sustainable go-to-market strategy, reach out to us at [email protected] and explore our sustainability marketing solutions. For the latest updates on Man Bites Dog events and content, register for future event invitations here, or follow us on LinkedIn.