Lloyds TSB: An Extraordinary Journey
In 2006 Lloyds TSB was suffering from a dusty and old-fashioned reputation, resulting in a dwindling current account base and the industry's lowest levels of non-customer consideration. To tackle this, they moved away from the traditional product-based communications model to a needs-based one, brought to life with the 'For the journey' idea. The creation of the animated world reflected the customer’s journey with the bank in a way that was modern, distinctive and emphatic. The subsequent campaign transformed Lloyds TSB into the most considered bank amongst non-customers, reversing current account attrition, adding over 400,000 new current accounts and cutting the cost of acquisition by a factor of four. The campaign is projected to deliver nearly £250m profit, increasing ROI by over 60%.