Barclays: Purpose Pays: The Next Chapter

Barclays: Purpose Pays: The Next Chapter

Covering 2018 to late 2021, this case builds on an earlier Barclays paper to demonstrate how the bank combined commercial and social purpose objectives. A core insight was that by improving consumers’ confidence in managing money, the brand could grow prompted consideration, and its share of current accounts and mortgages. Initially, communications showed consumers ‘bossing’ money. Later, they were seen controlling their ‘Moneyverse’. During peak COVID-19, the bank focussed on purpose messaging to reassure customers. Barclays Money Mentors also provided advice. Overall, the strategy delivered an estimated £3.97 of profit for every £1 invested in marketing.