Convincing a boardroom of accountants to invest in brand: A story of insight effectiveness

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.

Key takeaways:

1. How to build an evidence case for sign off of brand marketing investment.
2. How to build an ‘agency eco-system’ (insight/creative/econometric) that supports and drives the marketing function.
3. How great insight teams become indispensable in driving marketing success.