Background
A global bank’s marketing budget had been on the decline for a number of years, and it had fallen behind its competitors in several ‘brand power’ reports as a result. This had got the attention of the bank’s board of directors, which commissioned us to make a recommendation about what it should invest in marketing to reverse the decline and help drive growth.
Solution
Our consultants developed a plan that included four key actions:
- A comprehensive audit of the bank’s historical marketing activity to assess the extent of the decline
- A benchmarking exercise, which leveraged third-party data, to assess the true state of the bank’s brand value versus its peers
- A best-in-class guide to brand marketing to inform future strategy
- Modeling against brand health and commercial KPIs to determine past marketing impact
The insights and results from these four analyses were synthesized to create:
- Forecasts of future commercial KPI trends under different marketing investment scenarios
- A roadmap to support marketing over the next five years
- Guidance for how to optimally balance brand activity with activation activity.
Results
Our work unlocked £800m of incremental revenue with our client feeding back that the outputs we provided “have been met with strong feedback at the most senior levels internally”.
£m
incremental revenue
