Lloyds TSB - For the Journey Case Study: engaging with customers

Introduction

This case study on Lloyds TSB For the Journey forms part of Datamonitor's new series highlighting best practice in specific areas of financial services.

Scope

*This case study analyses the key successful elements in Lloyds TSB's marketing and communication strategy

*The case study examines how the brand has developed to its current status and why it appeals to consumers so strongly

*Datamonitor's Financial Services Megatrend Framework is used to analyse the effectiveness of customer targeting strategies

Highlights

In 2008, Lloyds TSB was hit by the meltdown of the UK banking system. Despite recent issues at a corporate level, Lloyds TSB has retained a strong brand image amongst its customers and was among the first in the UK to use relationship building messages rather than price-based themes to attract business.

Reasons to Purchase

*Gain insight into the methods used by important industry players to give them a competitive edge

*Identify specific areas for operational improvements

*Capitalize on the knowledge of experienced companies when entering a new niche or market

Report Highlights
Highlights

In 2008, Lloyds TSB was hit by the meltdown of the UK banking system. Despite recent issues at a corporate level, Lloyds TSB has retained a strong brand image amongst its customers and was among the first in the UK to use relationship building messages rather than price-based themes to attract business.
[Studien Infos ausblenden]

DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
ANALYSIS 2
Introduction 2
The Lloyds brand has a long heritage 2
Lloyds TSB's product range is well diversified 3
Lloyds TSB has emerged as an innovator among its competitors in terms of marketing and branding 5
Lloyds TSB's 'For the journey...' campaign appealed to a wide range of consumers across their product needs 6
Products with a wide practical application were introduced to reinforce the brand message, Save The Change 7
Lloyds TSB's 'For the journey...' campaign used a wide range of media to reach its audience 8
Lloyds TSB became the first official domestic partner of the London 2012 Olympics 8
Datamonitor's Financial Service Megatrend Framework helps analyze the reasons for the success of the ""For the journey"" campaign 10
The ""For the journey"" campaign is aimed to instill Comfort 11
A focus on community and connection is central to the success of the campaign 11
The Lloyds Banking Group will face renewed challenges in the new era 13
APPENDIX 14
The Datamonitor Financial Services Consumer Insight Megatrend Framework 14
Authenticity 14
Comfort 14
Connectivity 14
Convenience 14
Individualism 14
Wellbeing 14
Demographic Complexity 14
Financial Intelligence Complexity 14
Lifestage Complexity 15
Wealth Complexity 15
Further reading 15
Ask the analyst 15
Datamonitor consulting 15
Disclaimer 15
[Inhaltsverzeichnis ausblenden]

List of Tables
Table 1: Top 10 UK banks in terms of onshore retail deposits 2004-2008 5
List of Figures
Figure 1: The historic Lloyds TSB 'black horse' logo 2
Figure 2: Lloyds TSB was rated sixth on Global Finance's list of the World's Safest Banks 2008 3
Figure 3: The 'For the journey' campaign comprised of 19 different adverts targeting a wide variety of customer segments 4
Figure 4: Snapshot of the 'For the journey...' TV advertisement 6
Figure 5: Lloyds TSB's 'Save the Change' product proved a hit 7
Figure 6: Lloyds TSB was named the UK's most trusted bank/building society in 2009 9
Figure 2: Trust in Lloyds TSB among its primary customers currently stands at 43%, higher than other banks hard hit by the global banking crisis 10
Figure 8: Lloyds TSB's 'For the journey...' campaign appeals to the Comfort Megatrend 11
Figure 9: Providing 'real life stories' and opportunities to support 'local heroes' being sponsored in the run up to the 2012 Games helps Lloyds TSB stay connected to its customers. 12
[Tabellenverzeichnis ausblenden]