Room 2 | 11:30 am - 12:00 pm | Thursday, May 4, 2023
In 2018 Skipton Building Society (SBS) had sights set on expansion. A traditional, some-might-say parochial brand from a Northern backwater, SBS nevertheless had a strong local following and service reputation. If SBS was to meet its ambitious growth targets and help more people save for the future, it needed to appeal outside of the North, and attract younger customers. No small feat! So how? There were two options: invest in rates and chase the market. Or, take the potentially riskier, less obvious route: significant investment in the SBS brand.
The Building Society sector isn’t known for taking risks. Marketing tends to be safe and focused on activation. No shareholders means profit is reinvested for the benefit of members: brand-building can be seen as an expensive indulgence. The marketing team knew brand investment would be the most cost effective way to deliver long-term commercial growth for SBS. But convincing the Executive Board – a room full of accountants – was another matter. This is the story of how carefully conceived and executed research proved the case for investment – and then showed the marketing was working, year after year. A story of the power of brand-building to deliver long-term sustainable growth.
With new regulations to restrict the promotion of HFSS products by volume (e.g.no ‘buy one get one free’) and location for both online and in store and a watershed for [...]
Attempting to use resources in a parsimonious way, leaders and decision makers should stay focused on how to make the best out of their business. People are different and behave [...]
IMA chief executive, James Wycherley, talks to Hazel Nicolson about her work transforming the Insight team and its impact at Coca-Cola Europacific Partners. Key takeaways: How to assess the opportunity for Insight [...]