TSB

client objective

Of the 67 million adults that live in the UK, less than 2% switch their bank accounts. In 2020, this number actually dropped by 65%. Not great news for banks, including TSB. TSB were working to build consumer trust after its well documented I.T. outages in 2018.

TSB wanted their new Spend & Save Current Account to be a tentpole moment in bringing customers back, continuing the trajectory of their net promoter score and a real-life example of how the bank was living up to its new positioning of “Life Made More”.

the big idea

TSB have a hefty chunk of customer 1st party data, so knew the types of people previously encouraged to bank with TSB. By working with Global’s DAX platform, TSB could liberate its data assets from a CRM database and use them to find those everyday moments to connect with current and potential customers.

making it happen

1st party data, combined with Global audience insight, would create unique audience groups with audio optimised to reach those most likely to be interested in making savings from everyday shopping to pay for the things that they actually wanted to be spending their money on, with programmatic outdoor delivering personalisation at greater scale. Connected audio listening was truly soaring through lockdown as audiences sought screen-free time and that coupled with Global’s network of connected outdoor sites could speak directly to communities about those everyday moments, as we spent more time in local neighbourhoods. In a media first Global would use client data to execute across audio and outdoor in one single campaign.

Using a data safe harbour called Infosum, TSB shared the necessary data to enable Global to match TSB emails to Global’s device IDs. From here, Global built profiles of whom to target, giving TSB far more insight than they had from their list of email addresses. Global then delivered a targeted TSB audio campaign based on what these audiences were listening to, where they were listening and what they were interested in; from sports and fashion to DIY. The second phase of the delivery saw these data groups targeted in their local neighbourhoods. Using location data tracking and device IDs, Global identified which DAX outdoor sites the target audiences were passing, meaning the campaign could be extended onto the local streets, using references to the items we knew the audiences enjoyed spending their money on; from flowers and holidays to music and entertainment.

results

The campaign liberated TSB’s data to give them far more actionable insights than a list of email addresses. Post campaign tracking
(control vs test) showed that the campaign smashed all key metrics set by TSB, delivering:

+ 13% point ad recall of the campaign

+ 20% point increase in better impressions of TSB

+ 31% point increase in audiences likely to consider switching bank or building society

+ 38% point increase in those who would consider a switch to TSB

More importantly, audiences acted. TSB recorded a +9% point increase in visits to the Spend & Save section of their website, up from 26% of all visitors to 33% with actual applications for the Spend & Save account up 31%.

Sources: Differentology research and Global Data, TSB