__Welcome to our annual Signals report, where we look at the marketplace direction that we believe will have a significant impact on how financial services communicate.__

Despite being unable to categorically rule out an end to the permacrisis, we are cautiously upbeat about two broad themes for the year ahead – an attitudinal shift and tech enablement. 

Some of the changes of attitude that we predict will be widely embraced include: the desire for Fame, doing fewer things better and securing greater impact; Long-termism with a focus on the ‘S’ as sustainability becomes embedded and Business to Human, as B2B communications become braver and go beyond product. 

In terms of tech enablement, of course no 2024 signals report would be complete without a view on AI. Very aware that there’s the good, the bad and the reality, AI Driving Emotional Moments is a fascinating review of positive application, as is Hyper-personalisation. Platform enablement is explored in both The New Adviser, which looks at the impact of TikTok on the advice market, and, in One Line of Sight, we outline how holistic financial services interfaces are meeting user expectations.

Enjoy the read ahead.

[Download the report here](https://assets.ctfassets.net/sxw14dxmazhg/jNSe8xFxo3VnUarFvWZCt/63fc7b5d494576b1889826043fe98b42/Teamspirit_-_2024_Signals_Report.pdf)

If you’d like to discuss the impact of these signals on your business contact us at [hello@teamspirit.co.uk](mailto:hello@teamspirit.co.uk).

Welcome to our annual Signals report, where we look at the marketplace direction that we believe will have a significant impact on how financial services communicate. 

2024 Signals Report

AI is becoming an indispensable tool for supporting the evolution and effectiveness of brand building. 

Undoubtedly it can provide the flexibility and data-driven insights necessary to allow brands to adapt and thrive, particularly to increase personalisation and content relevance.  AI’s capacity to analyse vast amounts of consumer data to identify emerging trends and preferences, can help brands adapt their hero assets to remain relevant and appealing. 

But while AI offers insights and data for planning, it falls short on creating truly distinctive brand assets, logos for example. The craft and insight gained from years of individual and collective experience, empathy and understanding remain a more powerful tool for creation.

Let’s explore what’s good about AI, what’s bad and what’s the reality when considering how to use it to build long-term brand fame and affinity. 

## The Good
AI assistance can help speed up several stages in the brand building process:

### AI and Colour 
AI can assist in colour selection by analysing a colour’s psychological and cultural associations. This data-driven approach can help brands choose colours that not only align with their values but also evoke specific emotions in consumers. 

But when AI algorithms monitor colour, it’s worth remembering that they’re just watching trends. So, while we may think it’s a good idea to make adjustments to keep a brand's colour palette fresh and appealing, it makes for a here-and-now-approach, not one that builds longevity. 

### AI and Logos  
AI can aid in logo design by analysing vast datasets of successful logos to identify patterns and elements that, at a moment in time, resonate with audiences. This data-driven approach can support with creating sets of potential logos as a starting point.

Some may say that AI-powered tools will allow you to continually assess consumer sentiment towards logos, helping brands to adapt and refine their visual identity based on real-time feedback. But is that ability to adapt to changing consumer preferences also able to ensure the logo remains a powerful representation of trust and reliability? We would say not. 

### AI and the words: Brand lines and TOV  
AI is able to assist in creating memorable lines, by analysing linguistic data and consumer sentiments. Natural Language Processing (NLP) algorithms can help brands understand what words and phrases resonate with their target audience. These insights can then guide the creation of straplines that not only encapsulate the brand's essence, but also align with the current cultural conversation. But the nuances and empathy that a writer, strategist and brand marketeer bring is still needed to ensure the lines truly do hit home.

Additionally, AI-powered chatbots and virtual assistants are now becoming extensions of a brand's voice, helping to reinforce straplines and brand identities in customer interactions. Programming chatbots to assume a brand’s tone of voice can prevent customers feeling alienated in automated spaces. However, there is a bigger question at play: if authenticity is key to a brand, does the mere presence of an AI chatbot negate that brand experience? 

## The Bad
However sophisticated the AI, it still has various drawbacks:

### Lack of Creativity
AI is based on algorithms and patterns, which limit its ability to generate truly innovative and creative ideas. AI-generated designs that follow popular trends and templates are likely to result in brand assets that look generic and fail to stand out. Building a brand requires out-of-the-box thinking and emotional resonance, which remain challenging for AI to replicate.

### Loss of Human Touch
The most successful brands are built on creating genuine emotional connections with users.

AI lacks the human touch and emotional understanding that are crucial when crafting brand assets that resonate with the target audience.

### Inconsistent Brand Messaging
While AI can help automate certain aspects of brand communication, it may not always understand the nuances of a brand's values, mission, and voice. This can lead to inconsistencies in messaging, which can be detrimental to brand identity.

### Ethical Concerns
We strongly believe in using AI responsibly. This includes being aware that AI algorithms are only as good as the data they’re trained on. Biases present in the training data can lead to unintentional biases in brand assets, which can have negative social and ethical implications.

### Limited Understanding of Cultural Nuances
Branding often involves understanding and respecting cultural nuances. AI may not have the cultural sensitivity required to navigate diverse markets effectively, potentially leading to cultural misunderstandings or insensitivity. This is particularly true when creating global brands that are also locally relevant.

### Energy Guzzling
While undoubtedly a powerful tool to help explore brand building, using AI comes at a considerable energy cost. It relies heavily on the computational power of servers and vast server farms, often powered by energy-hungry data centres. These are packed with high-performance hardware and require an immense amount of electricity to function efficiently.

As we explore the exciting possibilities of AI in brand and content creation, it’s crucial to recognise the environmental impact of these energy demands. Balancing innovation with sustainability is paramount in harnessing AI’s potential, while minimising its environmental footprint.

## The Reality
While AI can be a valuable tool in the branding process, we believe that it must be used judiciously and in conjunction with human creativity and expertise. The downfalls of AI in branding for the long term largely revolve around its limitations in creativity, emotional understanding, and cultural sensitivity.

Successful branding efforts involve a harmonious blend of AI-driven data insights and human-driven creativity and intuition, to create brand assets that truly resonate with the target audience and reflect the brand's unique identity.

Our view is that AI is a useful tool to speed up exploration. But it’s not an answer in itself. It’s great for finding averages and trends. But not for standing out or disrupting sectors.
It can only remix the here and now.

__Here’s our best practice advice for brands thinking of using AI tools and approaches: __

1. __Balancing Human and AI:__ Use AI as a tool to enhance human creativity and decision-making rather than replace it. Combine the strengths of AI (data analysis, automation) with human insights (creativity, intuition).
2. __Ethical AI Usage:__ Be aware of potential biases in AI algorithms and take steps to mitigate them. Ensure ethical AI practices to avoid unintended consequences.
3. __Continuous Learning:__ Invest in ongoing training and education to stay updated with the latest AI tools and techniques relevant to brand management.
4. __Testing and Validation:__ Before implementing AI-driven changes to brand assets, conduct thorough testing and validation to ensure they align with the brand's core values and resonate with the target audience.
5. __Human Oversight:__ Maintain human oversight in the branding process. Human expertise is crucial for assessing the emotional impact of brand assets.
6. __Flexibility:__ While AI can provide valuable insights, be willing to adapt and make changes based on qualitative feedback and evolving market dynamics.

If you’d like to discuss how to assess your brand’s ability to thrive in an AI driven world of urgency, please contact us at [hello@teamspirit.co.uk](mailto:hello@teamspirit.co.uk).

AI is becoming an indispensable tool for supporting the evolution and effectiveness of brand building. But while AI offers insights and data for planning, it falls short on creating truly distinctive brand assets. Find out more in our latest article. 

Branding with AI: The good, the bad and the reality

One year we’re creating a rap about pensions with Big Zuu, the next we’re bringing back Mallett’s Mallet! It’s never quiet for long at TS towers and last month saw us come back for year two of the industry-led Pension Attention campaign alongside the ABI and PLSA. After months of planning and tireless work across our integrated team, it was brilliant to see our work with Timmy Mallett, an iconic and much-loved 80s and 90s TV presenter, all come together and land with a splash across press, digital, social and out-of-home as we called on the UK to take an Itsy Bitsy Teeny Weeny look at their pension with ‘The Pensions Playback’. 

Working with Timmy Mallett was a joy and while I’m a tad young to have watched his primetime shows in my childhood, I certainly understand how our target audience for this campaign are so taken by him. 

On our shoot day he enlisted Mallett’s Mallet and Pinky Punky to take contestants back to the 80s and 90s so they didn’t feel so “Bleugh” about their pensions. With this nostalgic take, we were able to encourage people to look back to yesterday and uncover their ‘lost’ pensions to maximise their future. It sounds simple, and it really is, but so many people just aren’t claiming them. In fact, the DWP estimates there will be 50 million dormant and lost pension pots by 2050. And with the average person having 11 jobs in their lifetime, it’s never too soon to get on top of it. 

In the run up to launch, the team worked to build the assets for launch day. This included the Pension Attention landing page, the out-of-home advertising, the social clips and all the assets for PR. This meant when it came to launch day we had a wealth of content to amplify the PR as we hit go on our media day with Timmy to get the nation talking and taking action. We had pitched away in the week running up to launch and landed a packed-out schedule with Timmy conducting interviews across many major national publications and radio stations (we also quickly learnt we have a lot of Timmy fan boys and girls in the media!). 

These articles have all since been landing and we’ve already reached over 52 million people with the coverage. Hits have been secured in core nationals such as the Mail Online, The Express, The Sun, Evening Standard and This is Money and we still having a bunch of articles in the pipeline! We’ve also heard Timmy across the airwaves and TV and been so heartened to hear him bring his own personal experience to the campaign, talking about all the jobs he’s had and the importance of tracking down those pensions. He was a real pro and so seamlessly mixed our messaging with titbits of local knowledge for radio stations, 80s trivia and chats about his own passions including biking and painting. 

While the pitching certainly doesn’t stop here, it’s been a great start to year two of Pension Attention and we look forward to continuing to bang the drum over the coming weeks and months.

Your attention please! Senior Account Director Kathryn Cleaver reflects on the launch of the 2023 Pension Attention campaign and what it was like working with the legendary Timmy Mallett. 

Your attention please!

On Thursday 28th February in conjunction with the Financial Services Forum (FSF), we held our second breakfast event of the year on the theme of Sustainable Marketing - this time focusing on the making and delivery of sustainable marketing to ensure that internal behaviour matches external promises.
With thanks to our expert panel for their insight:

- Millie Hyde-Smith, PR and Content Director, Retail, Legal & General
- Jo Fenn, Global Director, AdGreen
- Jo Hand, is Cofounder, Giki
- James Maxwell, Executive Creative Director, Teamspirit

## __Setting the scene__

The Chair, Fiona Couper, CMO, Teamspirit highlighted that the pitfalls of failing to be sustainable in the making and delivery of marketing can be very public and reputationally damaging.  The Advertising Standards Authority (the ASA) has been baring its teeth, to reinforce that saying one thing and doing another is no longer going to wash. Last year it upheld complaints against HSBC’s out of home adverts that were deemed to be misleading they could lead viewers to conclude that HSBC’s overall financing activities had a positive impact on the climate despite the $87bn in financing to fossil fuel companies between 2015 and end of 2021.

In terms of attracting talent sustainable performance and behaviour is also crucial. According to Marsh McLennan, top employers by employee satisfaction, have average ESG scores 14% higher than the global average, likely due to their strong environmental scores.  Previous panellists, such as Jasper Martens at Pension Bee, have reiterated how much the company’s purpose to do the right thing for the long-term acts as a barometer when creating new products and services – with the internal team warning if activity is ‘off’ brand.
__
## Increased priority in 2023__

The session kicked off by asking if 2023 has seen an increased focus on making marketing production and output as sustainable as possible – walking the talk.  All felt that the year had seen increased interest and focus with the proof in the increased amount of data available to be measured., this increased interest was still seen as part of a tale of two halves, where both long-term goals and more immediate cost of living communications having to be twin tracked.  Whilst James felt there’s also been a shift away from the saturated climate and net zero related messaging to those around nature and the ‘s’ in ESG.

## __Securing investment__

Next the panel discussed how to navigate the barriers to making a more sustainable or long-term commitments, which can often be viewed as a more costly direction to follow. For Millie navigating the barriers began at the very start of their Colourful Retirement which has gone on to become an enduring inclusive photography direction.  Getting beyond the vanilla stock photography to represent a more realistic portrayal of retirement meant working with real retirees and using a photographer who helped create genuine imagery that more accurately reflected this audience in a more relatable way.  Getting to know those to be photographed led to more content and depth across the campaign which helped balance out any preconceptions of a bespoke photographic style being a more costly route to take.  The result was an ownable, and category differentiated style that continues to this day. 

## __Attracting and retaining talent__

Exploring the role of employees in helping to make a sustainable difference the panel discussed how individual action can feel futile and lost. Jo Hand shared information on the ability of their Giki platform to create internal engagement, even allowing for an element of competition between teams, offices, and markets.  The imperative is to help employees understand their personal carbon footprint, to do the heavy lifting that allows them to engage and come together through challenges and events to encourage collective action.

## __Measuring the change__

This neatly led on to the need for evidence, to prove the impact being made through meaningful, material, and measurable targets.  Jo Fenn talked about AdGreen’s carbon calculator and how it allows agencies and clients to see the breakdown of carbon emissions by activity across shoots.  By reducing flying, number of attendees on shoots and using more local teams where possible the difference can be enormous.  Particularly when you look at the vast number of shoots in sectors such as fast fashion.  This led to the panel discussing the vast swathes of content being produced daily and the environmental cost of this living in the cloud or buried deep in company websites.  All of which uses energy and the panel advocated should lead to a quality not quantity content direction.

## __Avoiding trend reactions__

Finally, the panel discussed how the likes of political direction and AI is impacting the creation of sustainable brands.  All felt that being clear on what the brand stands for, its purpose, in the face of changing headwinds is vital and acts as the NorthStar.  Doing the right thing is a long-term commitment which should never vacillate in the face of trends.  In terms of AI and a digital first world its even more important to reinforce key brand assets to ensure that they are both fit for purpose in a world that moves and create a branded experience at every touchpoint.

Huge thanks again to the panel for their insight and candour. If you’d like to discuss how to ensure your brand behaviour matches external promises, please contact us at [hello@teamspirit.co.uk](mailto:hello@teamspirit.co.uk).


Sustainable Marketing – Walking the talk Breakfast Event 28.10.23

“I hope you’re not just here for the sandwiches!” Carmel Dickinson laughs as she introduces the session to an eager crowd. Absolutely not. That’s because this month’s Meet the Change-Makers is none other than Boring Money. The complete opposite of their name, Boring Money is on a mission to liven things up and help regular folks make smart investment choices. No PHDs needed here then! 

That doesn’t mean their approach isn’t smart – it is. And that’s what Carmel and her colleague Kate Fitzpatrick took us though on Tuesday. They explained that advisers and the wider industry have a habit of talking about costs, assets and other elements of personal finance and investments – but people don’t understand. At least not straight away.

That’s why they’re ditching the dastardly jargon and sprinkling in some humour. Heck, while flicking through their presentation, giant words proclaiming ‘My Dad’s got a big will’ filled the screen. Nice. And it works!

But it’s not just clever copy that’s helping the nation get to grips with investing. It’s also the introduction of Tribes. Nine of them so far to be precise. See, what Boring Money does is conduct nationally representative research, gather qualitative and quantitative data, survey, interview – you name it. Then they craft a Tribe based on their findings. That could be Distressed Divorcees, Wary Women or Rebellious Renters to name a few.

These profiles are used to study behaviours, lifestyles and fears. Then they’re used to target materials to each audience. Companies can also arrange to gain access to this information by getting in touch with their team.

It’s this understanding of audiences and really examining the landscape out there that’s going to help us make changes in this industry and reach the right people at the right time. We’re huge fans of this approach and believe it adds great depth to our work.

So keep up the great work Boring Money – we’re excited to see what else you can achieve by standing out and standing up for those of us who’d like to see finances simplified.

See their fantastic blog and more [here](https://www.boringmoney.co.uk).


Let’s liven things up – Boring Money Meet the Change-Makers

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