Feature

IPA Effectiveness Awards 2010: Silver Award - Lloyds TSB

Title: An extraordinary journey: how a simple idea transformed the fortunes of the UK's largest bank

Client: Lloyds TSB

Entrant: RKCR/Y&R

Authors: Ben Kay, Anna Tetlow, RKCR/Y&R

Contributing authors: Nick Palmer, Pip Lowe, Hall & Partners; Willis Fan, Lloyds TSB

Credited companies - Creative agency: RKCR/Y&R; design agencies: Rufus Leonard, Billington Cartmell; digital agencies: Saint, Digitas; DM agency: Rapier; media agencies: ZenithOptimedia, MEC

Media used: Cinema, couponing/leafleting, direct marketing, magazines, mobile/apps, newspapers, online display, outdoor/poster, radio, search, SMS mobile marketing, sponsorship, TV, viral/social media, website/microsite

IN A NUTSHELL

'For the journey' modernised the bank, and added more than 400,000 current accounts and a projected profit of near £250 million.

SUMMARY

In 2006, Lloyds TSB was suffering from a dusty and old-fashioned reputation, resulting in a dwindling current account base and the industry's lowest levels of non-customer consideration. To tackle this, it moved away from the traditional product-based communications model to a needs-based one, brought to life with the "For the journey" idea. The creation of the animated world reflected the customer's journey with the bank in a way that was modern, distinctive and emphatic.

The subsequent campaign transformed Lloyds TSB into the most considered bank among non-customers, reversing current account attrition, adding more than 400,000 new current accounts and cutting the cost of acquisition by a factor of four. The campaign is projected to deliver nearly £250 million profit, increasing ROI by more than 60 per cent.

JUDGE'S COMMENT

The judges viewed this campaign as a benchmark of a big institutional brand. Through its thorough insight about flexibility and customers' needs, it fundamentally repositioned the brand and represented a massive change.

Chris Jansen, managing director, British Gas Services & Commercial.

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