In a bold move, Lloyds Banking Group has launched two simultaneous advertising campaigns for its flagship brands, Lloyds Bank and the Bank of Scotland, promoting the same product to support small businesses across the UK. This innovative approach highlights the importance of British SMEs, while maintaining the distinct identities of both banks.
Championing Small Businesses
The core focus of the campaign is to promote Lloyds’ new business current account, targeting small business owners and aiming to attract both existing and new customers. To maximise its reach, the group has crafted two separate campaigns for Lloyds Bank and the Bank of Scotland, each tailored to resonate with their respective audiences while delivering the same overarching message: small businesses matter.
Recognising the growing role of digital media, this marks the first time Lloyds Banking Group has led a major campaign with video-on-demand (VOD) content. Richard Carpenter, the Group’s Head of Marketing, explained the strategic shift: “B2B marketing can sometimes lag behind B2C, but this campaign shows how we’ve embraced digital-led creativity and programmatic media buying.”
Both banks’ campaigns celebrate the vital role of small business owners. The Bank of Scotland’s video shines a spotlight on the multi-faceted challenges faced by SME owners, highlighting the pressures and responsibilities they juggle daily. Meanwhile, the Lloyds Bank campaign features three small business owners—a florist, an electrician, and a courier—who are each given a platform to share their stories, juxtaposed with a celebrity figure to emphasise the underappreciated contributions of these entrepreneurs. Through makeovers and photoshoots, the campaign symbolically rewards their hard work, aiming to give them the recognition they deserve.
A Proud British Heritage
The campaign, which runs until March 2016, spans across digital, radio, and press channels, with an estimated media spend of £3 million. As part of its digital-first approach, Lloyds partnered with radio station LBC for a two-week sponsorship of its business programmes, where discussions centred on the challenges and successes of small businesses. This partnership aligns with Lloyds’ key message of supporting British SMEs, reinforcing the bank’s commitment to the nation’s business community.
“We are proud of our British heritage, and supporting small businesses is at the heart of what we do,” Carpenter said. “The sheer volume of SMEs in the UK and their contribution to the economy were the driving force behind this campaign.”
Early results have shown impressive engagement, with the campaign generating over 20 million digital impressions within the first few days. The main campaign landing page saw a month’s worth of activity within just five days, with Lloyds aiming for 230 million impressions in total for the first phase. Success will be measured not only by customer applications but also by how the campaign resonates with non-customers considering Lloyds for their business needs.
Adapting to Feedback
As the campaign progresses, Lloyds is committed to adapting and optimising its approach. The three SME videos for Lloyds Bank will be promoted based on the feedback and engagement each receives, and the creative elements will evolve based on ongoing social media responses and programmatic buying data. A second round of media buying is planned for early next year, dependent on the campaign’s performance over the coming months.
“This is just the beginning,” Carpenter added. “We’re constantly fine-tuning and optimising the campaign to ensure it reaches its full potential. While the initial push to get it live was significant, the real work starts now.”
Through this dual campaign, Lloyds Banking Group not only underscores its commitment to British small businesses but also sets an example of how brands can innovate in their marketing approach while staying true to their core values.
Reference: https://www.b2bmarketing.net/lloyds-banking-groups-national-pride-inspires-sme-campaign/
