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Lloyds TSB

Lloyds TSB builds mortgage business through Northcliffe local press advertising with ROI of 64%.

The Challenge

As one of the UK’s leading financial services groups, Lloyds TSB serves both urban and rural communities through a network of more than 2,000 branches, coupled with internet and telephone banking services.

In a highly competitive market, they set out to leverage local press to promote their lowest rate fixed term mortgage and new, full term tracker mortgages.

Using a concentrated local press campaign across Northcliffe Media’s South West and Wales regions, Lloyds TSB managed to communicate effectively to the local target audience and successfully delivered incremental mortgage applications in the region.

The Solution

Lloyds TSB ran a four week campaign in June 2006 with fractional colour sizes (25x4 and 10x8) across ten titles:

Bristol Evening Post, Express & Echo (Exeter), Plymouth Evening Herald, Gloucestershire Echo, The Citizen (Gloucester), South Wales Evening Post, Western Daily Press, Western Morning News, Bath Chronicle and Torquay Herald Express.
 

Northcliffe South West & Wales Region

Northcliffe South West & Wales Region

lloydsad4

Ad-space in paper with editorial support

Bristol Evening Post

Bristol Evening Post

 

    Post campaign research

    An independent research company conducted 19 in depth face to face interviews in Bristol with key target audiences for Lloyds TSB mortgages, where they explored the value of financial services advertising in local press.

    Key findings:
     

  • Local press provides a trusted platform for financial services advertising
         
  • Decision around mortgages are more considered than other financial services and therefore require more information before any action taken
         
  • Local press advertising benefits otherwise ‘remote’ national advertisers
         
  • The highly valued and trusted Property & Personal Finance sections of the paper provide a natural alignment and targeted positioning for mortgage advertising
         
  • Newspaper Society ‘Wanted Ads’ research shows that nearly 1 in 3 UK adults read the property pages of a local newspaper
         
  • ‘‘ if there was an ad in the Bristol Evening Post for a mortgage, I would definitely take notice... ’’
         
  • ‘‘ I’d assume that the advertiser was in the area and therefore used to dealing with that area... ’’
         
    • Quotes from post campaign qualitative research

 

The Result

Based on incremental mortgage applications across Northcliffe’s South West & Wales region, the additional regional press campaign generated a Return on Investment of 64%.

"Lloyds TSB Research indicated that regional press has a very positive ROI which was reinforced by qualitative research undertaken by the Newspaper Society. The research highlighted that regional press provides both a trusted environment and suitable editorial for Lloyds TSB Mortgages. Such positive results mean regional press will certainly be considered in future campaigns for Lloyds TSB."
David Ace, Client Planner, Zenithoptimedia

"The Lloyds TSB test has clearly demonstrated the power and relevance of local press for the financial sector."
Robert Ray, Marketing Director, The Newspaper Society