The Challenge

The Cooperative Bank was one of the UK’s smaller High St banks. With a new, ambitious CEO it wanted to grow and challenge the ‘Big Four’. The problem was that its physical reach was limited to 125 outlets (this was before the widespread adoption of online banking). We weren’t convinced that chasing after the big banks was their best avenue for growth. And so we dug deep into the Bank’s archives to see if there was anything else we could leverage.

The Solution

The bank’s original charter, from the 1860s, contained a clause which forbade it from ever investing in oppressive regimes, environmental polluters, or businesses that promoted antisocial habits. Though this policy had never been widely shared, we persuaded the Bank to make this the main focus of their marketing. The CEO not only embraced the idea but set about orientating all parts of the business to support the message (customer service, opening hours, retail design, new products, and staff benefits).

The advertising that brought the idea to life was deliberately provocative and highly distinct versus other bank advertising, which tended to focus on interest rates, opening hours and friendly service.

Results

The campaign struck a nerve in the UK as consumers were beginning to embrace the concept of ethical banking. The bank soon became the fastest growing bank in the UK with the key ABC1 25-40 demographic. Its Gold Credit Card became the most successful credit card launch in Europe that year.