Recruiting new customers is a challenge for Lloyds TSB International. Competition from international and local banks in foreign countries has always been tough and the marketing budgets for this area of the business are tiny compared to Lloyds retail in the UK.
Consumer research showed their offer generates high consideration, but awareness of the Lloyds International brand is low. Having decided to focus on targeting prospects through UK branches due to the low cost of owned channels, colleague research also showed that branch staff also had little awareness of the brand. In fact, only 20 per cent of eligible Lloyds International candidates who walked into branches were identified by branch colleagues.
Our challenge therefore was to increase awareness amongst colleagues, helping them identify and refer prospects in branch. Our response was to equip them with the knowledge and confidence to do this effectively.
The result has been fantastic, smashing the original campaign KPIs by 130 per cent. Every colleague now knows about Lloyds International products, referrals rose 46 per cent and the ROI was a massive 798 per cent.
Lloyds branch staff continue to effectively target potential customers, with Lloyds International becoming an increasingly successful area of Lloyds Banking Group.