Anyone who has ever sat in focus groups or seen research on trust and brands will know how much people hate banks, and wish something genuinely different would come along.
So when you are that something different that comes along, it must be pretty easy to clean up, right?
Because people’s relationships with banking brands is far from straightforward.
In fact, the things they say they hate are often the very things they’re attracted to.
It’s like dealing with some strange financial version of Stockholm syndrome, on a massive scale.
So successfully launching TSB to 4.6m customers who hadn’t asked to be part of it was by no means a foregone conclusion.
Nor was growing it. Without alienating current customers.
And then creating enough differentiation and future value in TSB for a successful IPO. All within a year of its birth.
This paper tells how TSB faced this unique brand and communications challenge, and succeeded against the odds: they retained massively disrupted customers; recruited new ones; turned customers into advocates of this new brand; and contributed to TSB’s successful flotation.
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(Please note: parts of this case study may have been redacted for confidentiality purposes.)