October 2020 saw TSB launch a new product, the Spend & Save premium current account. With brand health suffering from store closures (positivity towards the brand was down 61%), our campaign needed to work hard to convert those already with TSB but considering an account switch.
Faced with a 61% budget cut, the simple road to efficient conversions was tried and tested digital media. Or was it?
With the looming threat of a cookie-less world, and a wider ambition to be the most technologically advanced, customer-centric brand in the sector, this was the perfect opportunity to accelerate our journey to truly unlock the power of 1st party data.
Through a partnership with Infosum and a media-first with Global, we were able to unlock the power of first-party data, outside of the Google and Facebook duopoly, to target, exclude and build lookalikes from actual customers.
This innovative use of new technology, the first to activate across Global's portfolio of connected screens, delivered excellent and tangible results. Independent research showed shifts in consideration of 79% (vs 67% benchmark) and intent (+93% of recall respondents vs 80%). And most critically, we saw a 31% increase in product applications from this activity alone, far exceeding expectations at a time when NPS fell 7.2 pts and Share of Voice was a mere 4%.
But the true results reach far wider than a media line on this plan. This activity has transformed our approach to media planning and buying, with plans to broaden our Infosum partnership via broadcast partners and search-led tests next. This is not just a lesson in finding the true value of CRM, but a reminder that applying owned data to paid channels can be truly transformational.