Barclays awards loan task to Payne Stracey

Payne Stracey has confirmed its place on the Barclays roster by securing the direct marketing task for a new consumer lending product, Barclayloan Select.

Payne Stracey has confirmed its place on the Barclays roster by

securing the direct marketing task for a new consumer lending product,

Barclayloan Select.



The agency was appointed following a five-way pitch against Craik Jones

Watson Mitchell Voekel, Evans Hunt Scott, Barraclough Hall Woolston Gray

and Grey Integrated. Payne Stracey already handles direct mail for the

new b2 savings account from Barclays.



Barclayloan chose not to use any of the agencies on its below-the-line

roster - Direct Relations, Matrix and Intermark - for the business.



Steve Porter, the product group manager for Barclayloan, said: ’Select

is a totally different product so we wanted to keep it separate.’



He added: ’Payne Stracey understood our market. Its strategic ideas were

a perfect fit with what we wanted.’



Barclayloan Select is mainly aimed at credit-aware customers who have a

relatively high income and strong borrowing needs.



Ben Stephens, managing director of Payne Stracey, said: ’We undertook

considerable research into what customers were looking for when

borrowing money, and how they actually behaved with their credit

products.’



As strategic and creative partner, Payne Stracey’s initial remit is to

recruit customers from Barclays’ lending customer base, and then

encourage them to continue to use the service.



The agency is also trialling direct mail samples for the b2 advanced

savings account. A fully fledged campaign will be launched by the end of

the month to support the above-the-line work from Banks Hoggins

O’Shea.



Meanwhile, Barclayloan is running a separate direct mail campaign

through J. Walter Thompson, Matrix and Intermark, to promote its limited

interest rate cut on personal loans of up to pounds 3,400. Matrix and

Intermark designed the direct mail.



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