Lloyds Banking Group appoints global CMO
Chris SutcliffeSuresh Balaji is joining Lloyds Banking Group in the role of CMO, with oversight over its brand, marketing and experience functions.
Suresh Balaji is joining Lloyds Banking Group in the role of CMO, with oversight over its brand, marketing and experience functions.
Kehoe replaces former chief product and marketing officer Sara Bennison, who left Nationwide in the beginning of July after six years in the role.
Targeting growth as its “core focus”, Lloyds will spend around two-thirds of the £3bn earmarked for strategic investment over the next three years on diversifying revenue.
Life under lockdown is sparking a shift in how brands recognise and prioritise mental health issues.
The bank is overhauling its logo and visual identity, as well as its marketing, in a bid to make the brand more contemporary and relevant amid rising competition from fintech startups.
Lloyds has struggled to measure the ROI of social and content, so instead favours TV and out-of-home as it looks to drive emotional engagement.
Employees from BT, HSBC UK, Lloyds Banking Group, Lloyd’s of London, Nationwide, Reed Smith, Scope and Virgin Media will appear in a Channel 4 film aimed at raising awareness of the #PurpleUpLight movement, which celebrates the economic contribution made by disabled people.
Noel Edmonds has failed to get Lloyds’ marketing campaign banned after the ad regulator dismissed his complaint, saying ‘By your side’ is clearly “advertising puffery” that consumers will not take literally.
The banking group has transformed its marketing over the past 10 years, with a big focus on creating a performance team tasked with making its investment more efficient, effective and focused on real business outcomes.
The campaign, which launches on mental health awareness ‘Time To Talk Day’, explores the common misconceptions about living with a non-visible disability.
The bank has belatedly won Channel 4’s Diversity in Marketing Award, after Volvo’s shock decision to reject the £1m prize last month.
Unless they are prepared to take accessibility and inclusivity seriously, brands and retailers could lose out on billions of pounds by ignoring the spending power of disabled customers.
With negative consumer perceptions persisting, banks are changing their marketing efforts to take a more purpose-led approach.
Minority groups are featured in less than 20% of advertising, according to new research, but given 65% of people would feel more favourable about a brand that promotes diversity, companies are missing a huge opportunity to connect with consumers.
As consumers become ‘desensitised to the big brother’ effect, larger finance brands including Mastercard and Lloyds are imitating disruptors such as Atom Bank and immersing themselves in biometric technology.