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10/07/2017

The importance of Financial Services Providers (FSPs) to the South African economy, specifically towards GDP growth, employment creation and employment transformation will be the main topic of the inaugural professorial address by Professor Chantal Rootman tomorrow evening.

Prof Rootman, from the Department of Business Management at NMMU, will deal with some of the unanswered questions that clients have in this industry. Her extensive research within the field of marketing shows that the focus of research among FSPs relates to relationship marketing.

Her findings have shown that international FSP research followed the same trend towards a focus on relationship marketing but she emphasises the fact that although international best practices should be considered by FSPs, the need for contextualised South African FSP research is critical.

Prof Rootman will provide insight on relevant African and South African specific financial services statistics, pointing out the high percentage of citizens on the African continent who still do not make use of financial services. Of those served, half are insufficiently served and FSP opportunities remain largely unlocked in high-growth African markets.

A valuable part of Prof Rootman’s inaugural lecture will be her focus on what FSP clients really want. As an expert in the field, she will highlight the perception and practical gaps in clients’ versus FSPs’ views. Clients are not loyal and are willing to switch from one FSP to another, she says.

“If FSPs want to be more successful and increase their contribution towards to the country’s economic growth they need to create an environment that is conducive to relationship marketing, and ensure that their efforts align with clients’ relationship marketing ideas,” Prof Rootman said.

Prof Rootman’s lecture will take place on Tuesday, 11 July at 17:30 in the North Campus Conference Centre.

Contact information
Ms Zandile Mbabela
Media Manager
Tel: 0415042777
Zandile.Mbabela@mandela.ac.za