October 4, 2015   

Customer First Marketing – Retail Banking

Putting the customer at the heart of marketing and communications.

WAE started working with Lloyds Banking Group (LBG), a multi-brand financial services organisation that includes Lloyds, Halifax, Bank of Scotland (BoS) and Scottish Widows, in 2015. The set challenge was to help LBG find ways of getting closer to their customers in order to improve their experiences and give them reasons to stay loyal. The answer is to transform the way that marketing and communications teams approach business challenges – developing a passionate internal team of customer advocates.

Executing customer insight-led communications strategies

Through a series of PoCs (Proof of Concepts) covering credit cards, current accounts and small business customers across a range of LBG brands, WAE has helped internal marketing teams gather customer insights and turn these into action through more focused, effective communications that ultimately increase conversion and loyalty. This is achieved through rapid customer co-design methodologies that help map different mindsets and ‘ideal’ customer journeys. The greatest value comes through being able to quickly validate, and rule out, specific communications concepts before they went through an expensive creative process. The result is a customer centric approach that acts as a backbone for all communications going forward.

Embedding customer-centricity into an organisation

In order to embed a customer-centric methodology across the Lloyds Banking Group 500+ strong marketing team, WAE is training colleagues to think differently about the way they approach business challenges and brief agencies. Through the running of ‘Customer Day’ workshops around the UK that are designed to encourage ‘customer first thinking’, providing access to ‘always-on’ customer insights and the development of customer experience playbooks, WAE is helping LBG bring the voice of the customer deep into the organisation. This approach is already resulting in increased speed to market, a reduction in the need for agency support and a significant decrease in the volume of communications and media spend needed to engage customers in a meaningful way.

Due to the success of these initiatives, WAE is now a rostered customer experience (CX) partner for LBG and is working with the ‘Marketing Transformation’ team across a range of strategic initiatives, supporting the Lloyds Brand & Marketing and BoS Incubator teams shape customer-first communications journeys for specific business challenges and brand campaigns.

“Lloyds are committed to adopting a customer-first approach to all communications. Over the last year, WAE have taken Lloyds on a collaborative and immersive journey – from co-discovery sessions to concept testing with customers – helping us better understand customer attitudes, needs and behaviours so we can develop actionable insights that drive more effective communications at speed.”

Shailen Joshi, Head of Digital Communications, Lloyds Banking Group

“We understand that our customers expect to be in control of communications and for them to be personalised. Using a plethora of tools and methodologies, WAE have helped the group to understand and rapidly develop a viable communications for differing customer mindsets – we’re now in strong a position to deliver the right communication, to the right customer, using the right channel, at the right time.”

Anna Hingston, Head of CRM, Lloyds Banking Group

By Gareth Fryer, Partner