Financial Literacy of Marketing Staff Members

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Financial Literacy of Marketing Staff Members

Table of Contents

Introduction
Main body
Conclusion
Reference

Introduction

People usually tend to spend their money on the items they are interested in trying or the goods they are confident about. The marketing staff of the firm has arisen the interest in the customers minds, which has contributed to the positive results of the company as a whole. In order to assure the potential buyers that the purchase is a reasonable decision, the marketing staff should be able to command financial literacy. There are multiple reasons for the organization leaders to educate economic science to their advertising workers.

Main body

First and foremost, the feeling of awareness increases the trust level for the company from the customers. People tend to believe the marketers who offer them new knowledge and explain how the particular complex system works (Migliavacca, 2019). Moreover, if the customers ask questions about the companys financial variables, and the representatives fail to give a confident answer, it may seem that they are incompetent. Second, speaking about the companys products in public and providing specific figures with explanations simultaneously lets the customers assess the benefits (Migliavacca, 2019). This sense of consideration guarantees even higher trust and confidence, which in turn grants the clients loyalty. Hence, it is of paramount importance to provide the marketer staff with knowledge about finances.

Conclusion

There are also some other benefits of educating the employees. Literate operators tend to be more focused and experience less stress, which increases their efficacy and productivity. Such representatives show higher retention, which significantly improves the companys performance and reduces the expenditures for searching and teaching new workers (Migliavacca, 2019). As a result, providing the organizations marketing staff with the education for financial compound positively affects efficiency and performance.

Reference

Migliavacca, M. (2019). Keep your customer knowledgeable: financial advisors as educators. The European Journal of Finance, 26(4-5), 402-419. Web.

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