Entrant: Ogilvy & Mather Advertising
Authors: Nick Strauss, O&M Advertising
Credited Companies - Creative agency: O&M Advertising; media agency: Walker Media; research agency: Ledbury Research
Media used: Magazines, newspapers, online display, outdoor/poster, PR, sponsorship, website/microsite
IN A NUTSHELL
By radically altering its business structure to become a single organisation with a single brand, the Barclays campaign produced an incremental revenue payback of £1.3 billion over three years.
In 2006, Barclays realised its five wealth management businesses were not structured efficiently. The solution: merging them into a single organisation with a single brand - Barclays Wealth. This created the most financially resilient business in global wealth management and defied the global financial meltdown, growing even as its competitors were haemorrhaging clients and revenues. Its success is due to a radical category-changing strategy, efficient media planning, and a reinvention of the business and its culture, to produce an incremental revenue payback of £1.3 billion over three years, on a media investment of only £8.5 million and a marketing investment of £49 million. Launching the new brand prevented £64 billion in assets from being lost in the global downturn, contributing £610 million in future incremental annual revenue.
The Barclays Wealth case study demonstrates how, through a bold category-defining strategy and keeping its nerve, it successfully moved the business forward.
Nigel Gilbert, former group marketing director, Lloyds Banking Group.