TSB launches with £30m multi-channel campaign

TSB has kicked off a £30 million multi-channel campaign developed by Joint, to mark its separation from Lloyds Banking Group and re-launch as an independent bank.

Joint developed the brand positioning and content for the campaign, which includes outdoor, press, digital, direct mail, in-store and online activity, while MEC was appointed to handle media planning and buying.

The centrepiece of the campaign is a 150-second animated short, created by Joint and Marc Craste at Studio AKA. It tells the story of TSB's founding in 1810 by the Reverend Henry Duncan, when it was known as the Trustee Savings Bank.

The short, narrated by Sir Patrick Stewart, plays heavily on TSB's heritage as a community bank and concludes with the campaign strapline "Welcome back to local banking". A 90-second version will run nationally in cinemas, while the full version will run on TSB's website.

Joint said that it was not a strategic decision to use animation, which is the hallmark of Lloyds adverts, adding that it had chosen "the right idea for this particular launch". A national TV campaign, building on the new brand positioning, is expected to follow in 2014.

The campaign marks the completion of a two-year project to separate TSB from Lloyds Banking Group, as required by European Regulators, and follows the collapse of its proposed sale to The Co-operative Bank in April.

Print, outdoor and digital activity for the campaign, which Joint claims includes the biggest ever run of localised outdoor specials, starts with a "Hello" and outlines what it means to have TSB back on the high-street; social media activity will also use the hashtag #HelloTSB.

As of today's re-launch, TSB comprises 631 former Lloyds TSB and Cheltenham & Gloucester (C&G) branches, and is the UK's eighth largest bank with 8,500 staff and 4.7m customers. Lloyds Banking Group chief executive Antonio Horta-Osorio described it as a "clean bank", free of legacy issues like PPI mis-selling and toxic debt.

Damon Collins and Richard Exon, co-founders of Joint, said: "There has never been a bank launch like this and it's been incredible working across every touch point for the brand.

"TSB is all about competing with big, legacy incumbent, and that's something we are passionate about too."

The pair added that the aim of the localised print and outdoor campaign was to deliver a "national campaign with a local texture" and said that the focus on "local banking" reflected both TSB's heritage and its new, post-Lloyds structure as a bank focused on individual retail customers and small businesses, without "the complications and distractions of an international or investment banking arm".