Case study – Objective: Build trust
Lloyds Bank’s priority was to demonstrate that it was still by the side of its customers during the pandemic. Challenged by the ever-changing news and a decline in positive sentiment towards banks, this campaign set out to deliver financial reassurance and emotional support. Partnering with two of the biggest news brands in the UK, MediaCom created a newsroom model for Lloyds, which enabled the team to produce reactive and planned content that tied in with the national, local and customer news agenda.
With financial support measures such as the Government furlough scheme and bank repayment holidays constantly in question, plus the increase in redundancies as a result of a nationwide recession, many of Lloyds Bank customers found themselves financially vulnerable and in need of help. Research showed that initial positive sentiment towards banks during the pandemic was beginning to drop, as active communication to customers faded.
So, Lloyds Bank partnered with the Daily Mail and ITN, combining the Mail Online’s scale (reaching 9.6 million financially vulnerable people each month) with the production quality of ITN. MediaCom helped create a newsroom, giving unparalleled access to editorial teams and reactive turnarounds to stay on top of the news agenda. Content was created around a range of topics, from hard-hitting finance news such as the furlough scheme and economy updates, to softer lead pieces around mental health and loneliness.
As a result of the campaign, 71% feel that Lloyds Bank is working to ensure that those affected by the current economic uncertainty don’t feel alone and 69% said the articles made them feel more positive about Lloyds.
Lloyds Bank’s ’By Your Side’ campaign is a great example of what can be delivered when you combine an effective partnership with the power of real time content and context.Emma Holmes, marketing and media consultant