Purpose pays

The financial crash and banking scandals left trust in Barclays at record lows. To restore confidence and consideration, the banking group wanted to demonstrate how it helped society. Over four years, purpose-led marketing initiatives showed Barclays staff equipping different groups with digital and life skills, such as how to avoid fraud or use technology. Compared to its previous product campaigns, purpose initiatives led to 2.6 times the level of brand trust, an important driver of consideration in financial services. An estimated 460,000 financial products were sold and £153m of short-term income generated. The estimated short-term profit ROI was £2.30 for every £1 invested.