Marketing and sales professional services company MarketBridge has launched a financial services practice.
Tim Furey, CEO of MarketBridge, said this move is an attempt to meet the needs of the changing economy and financial landscape.
“All of a sudden, the financial industry is jarred,” he said. “You’re going to see a lot of consolidation, regulation and tighter competition from a product basis.”
He compared the current state of the financial industry to that of the technology industry a few years ago. “They had a big burst after climbing, and they had to rationalize their operations,” he said.
Furey added that MarketBridge is focusing on more accurately targeting and segmenting its audience, and helping clients understand the most cost-effective ways to reach consumers. “The ones who win will be able to cross-sell and up-sell,” he said. “[Consumers] don’t want to just buy home insurance or just buy auto insurance. They want to wrap services together and buy a complete set of products from one vendor.”
He also stressed the importance of customer retention in the financial marketplace. “It’s really about managing profitability at the customer level,” he said.
MarketBridge is headquartered in Bethesda, MD, and also has offices in San Francisco, London, Seattle, Toronto and Singapore.
Furey said the company plans on hiring additional staff to work in the financial services practice.