2. OVERVIEW
The Client(s)
The Clients Brief
The Marketing Plan
Situational Analysis
Target Market
Challenges And Objectives
Strategy and Actions
Budget
Evaluation Methods
Conclusion
CNE CONSULTANCY
5. THE CLIENT(S)
V12 Retail Finance (V12)
Specialist Retail Finance Provider With Over 20 Years Experience.
Subsidiary Of Secure Trust Bank Since January 2013.
Offer Finance Across Various Sectors Including Cycling, Healthcare And Furniture
And Currently Has 1400+ Clients.
Technology Driven Organization That Offers Customer Friendly Services Such As
‘eSign’ Functionality & Their ‘V12 System’.
CNE CONSULTANCY
7. THE CLIENT(S)
Secure Trust Bank (STB)
Operating Since 1954, They Are Currently A Subsidiary Of The Arbuthnot Banking
Group.
Challenger Bank That Is Looking To Test The ‘Big Four’ Banks In The UK.
STB Has Increased Its Business Portfolio In Recent Years, Including V12.
Currently The Only Bank In The UK To Hold The ‘Customer Service Excellence
(CSE) Award’.
Registered A Pre-Tax Profit Of £26.1m in 2014.
CNE CONSULTANCY
9. THE CLIENT BRIEF
Problem Posed:
Consider A “Planned Transition Of The V12 Branding Into Branding Of Secure
Trust Bank Retail Finance (STB RF)”.
Combat “Potentially Negative Connotations of Associating The Bank With ‘Riskier’
Finance Sectors”.
Rationale:
Due To The Continued Growth That V12 And STB Have Experienced Since The
2013 Takeover.
To Ensure Consistency Across The STB Group.
Cost Effectiveness Associated With Having A Unified Brand.
CNE CONSULTANCY
11. Situational Analysis- Internal Environment
MARKETING
MIX
PRODUCT
- Interest Free
Finance
- Interest Bearing
Finance
PLACE
- At Point Of Sale
- Through Mail
Order
- Online
PROMOTION
- Personal Selling
- Direct Marketing
PRICE
- 0% Interest on
Finance
- Subsidiary Rate
From Retailers
CNE CONSULTANCY
12. Situational Analysis- External Environment
Ikano Has A Finance Business Volume Of
£3.7bn.[1]
Retailer Partners Include ‘IKEA’ And ‘DFS’.
Barclays Partner Finance Has A Loan Book Worth
£3.4bn.[2]
Retailer Partners Include ‘Apple’ And ‘Dreams’.
1. Ikano Bank, 2015.
2. Mintel, 2015a.
CNE CONSULTANCY
13. Situational Analysis- External Environment
First UK Finance Provider Capable Of
Facilitating Multi-Channel Cross-Border
European Transactions.
Retailer Partners Include ‘Dixons’ And ‘Harvey
Norman’.
Their Technology Can Process A Consumer’s
Finance Application In Under 3 Minutes.
Retailer Partners Include ‘John Lewis’ And
‘B&Q’.
CNE CONSULTANCY
14. Required To Operate Within The
Regulations Of The Financial
Conduct Authority (FCA).
Conservative Government Pledge To
Reduce Corporation Tax To 18% By
2020.[3]
Currently A Health Conscious
Culture In The UK, Influencing A
Continued Growth In
Healthcare/Dental Sectors.
People Are Currently “More
Disillusioned Than Ever” With Banks
In The UK. [6]
The UK Is Currently Experiencing
An Economic Growth, Economy
Increased By 0.7% In Q2 of 2015. [4]
Consumer Credit Has Also Grown
Within The UK, Has Increased By
7.6% In Q1 of 2015. [5]
73% of Consumers Now Manage
Their Finances Online. [7]
Social Media Within The Banking
and Financial Industries Is Now A
“Reality”. [8]
POLITICAL
ECONOMIC
SOCIAL
TECHNOLOGIAL
Situational Analysis- External Environment
CNE CONSULTANCY
3. The Conservative Party, 2015.
4. BBC, 2015.
5. The Telegraph, 2015.
6. The Telegraph, 2012.
7. Mintel, 2015b.
8. The Huffington Post, 2015.
15. Situational Analysis
CNE CONSULTANCY
S W
O T
Does Not Have Its Own
Marketing Team.
Does Not Actively Participate
on Social Media And Have Not
Yet Adopted Mobile
Technologies.
1400+ Retail Clients Within A
Pyramid Structure.
Hold a 75% Share In The
Market For Providing Finance
For Cycles. Also Dominant In
The Music Sector.
To Utilize Social Media And
Digital Acquisition Channels To
Help Further Increase Brand
Awareness.
2.7% Increase On Expenditure
On Healthcare Products And
Services In 2014. [9]
9. ONS, 2015.
UK Economic Regeneration
Could Stall, Thus Affecting
Spending Potential Of
Consumers.
Current And Potential Clients
May Misinterpret Rebranding
Process.
17. THE TARGET MARKET
CNE CONSULTANCY
There Are Three Main Targets Of The Marketing Project:
The Existing Clients Of V12.
Potential Clients Of STB RF.
Staff Of V12 / STB RF.
For The Purpose Of This Project:
Retailers That Have Contracts Or Potentially Could Have Contracts With V12 / STB RF Will Be
Referred To As ‘Clients’.
Customers Who Purchase Off These Retailers Will Be Referred To As ‘Consumers’.
Target
Market
Existing
Clients
Potential
Clients
Staff
18. TARGET MARKET ATTITUDES
CNE CONSULTANCY
33
19
1143
34
0
The Reputation Of The
Finance Provider
The Finance Providers
Partnership With Retailer
The Branding Of The Finance
Provider
The Interest Rates Offered By
The Finance Provider
The Customer Service
Provided
Other
Primary Research Has Uncovered That Branding Is Not Very Significant In
Affecting The Purchasing Decision Of Consumers In Regards To Selection Of
Retail Finance Providers.
Only 34% Of Respondents Could Name
A Finance Provider. Most Answer’s
Were From The Motor Industry.
Interest Rates,
Customer Service And
Reputation Were Considered
The Most Influential Factors.
20. CHALLENGES
CNE CONSULTANCY
Major Challenges Of The Marketing Project
Successfully Plan And Ensure The Rebranding Of V12 Into STB RF.
Combat The ‘Negative Connotations’ Associated With Becoming A Bank And Inform
Stakeholders That V12’s Operations Will Continue At STB RF.
Minor Challenges:
To Retain Existing Clients.
Internally Communicate To Staff To Inform
Them Of The Transition.
To Create Social Networking Sites.
To Attract New Clients.
To Devise A 3, 6 And 12-Month PR Plan.
To Identify Appropriate Digital
Acquisition Channels To Use.
21. OBJECTIVES
CNE CONSULTANCY
Effectively Execute The Brand Transition From V12 Retail Finance Into Secure Trust Bank
Retail Finance.
Reassure Current Stakeholders Over The Benefits Of The Transition Whilst Successfully
Communicating The Benefits Of The Transition To Potential Stakeholders.
Make Existing Clients Aware Of The Transition And Retain Their Business Whilst Doing So.
Attract New Clients To Secure Trust Bank Retail Finance.
Effectively Educate Staff About The Transition.
24. CNE CONSULTANCY
3, 6 And 12 Month PR Plan = ‘Growth With Both’
STB RF Slogan - “Pure Finance That Is
Straightforward And Transparent”.
3 Stages – ‘Reach’, ‘Convert’ And ‘Consolidate’.
Will Use ‘Continuity’ And ‘Pulsing’ Schedules.
B2B Focus To Reach Existing And Potential Clients.
Will Contain An Internal Component To Help Inform And Educate Staff.
Will Utilize ‘Traditional’ And ‘Digital’ Media Outlets.
INTEGRATED MARKETING
COMMUNICATIONS
26. CNE CONSULTANCY
INTEGRATED MARKETING
COMMUNICATIONS
Marketing Initiative
Will Assist The PR Plan In Attracting And Retaining Clients.
STB’s Marketing Team Will Conduct Market Research Across The 9 Sectors That STB RF
Offers Finance In.
The Market Research Will Be Used To Reward Existing Clients For Their Loyalty. This Will
Have A Two-Fold Affect.
Potential Clients Will Be Offered Access To The Research As A Unique Selling Point (USP).
They Will Also Be Offered Opportunity To Purchase A £100 Tablet Device for £20.
27. CNE CONSULTANCY
INTERNAL MARKETING
‘Breakfast Morning’ Event
A Surprise Overnight Makeover Of V12’s Office Will Occur.
All Traces of V12 Will Be Removed, Being Replaced By STB RF.
Staff Will Attend A ‘Breakfast Morning’ In Which The Rebrand Will Be Unveiled.
Rebranding Process Will Be Explained Through Informal Presentation.
Personalized STB RF ID Cards, Retail Gift Vouchers And A ‘Goodie Bag’ Will Be
Provided To Internal Stakeholders To Reward And Reassure Them.
28. CNE CONSULTANCY
DIGITAL MARKETING
Social Networking Sites
V12 Currently Has Twitter, LinkedIn and YouTube
Platforms, Which They Severely Under Utilize.
The Marketing Project Aims To Use These Platforms To Help Generate And
Maintain Awareness Of STB RF.
Facebook Will Be Added To The Organization’s
Social Media Platform Portfolio As Well As
9 STB RF Twitter Accounts.
Will Be Used To Achieve ‘SPEAK’ And
‘SERVE’ Objectives Of The SOSTAC Framework. [10}
10. Smith, 2011
29. CNE CONSULTANCY
DIGITAL MARKETING
Digital Acquisition Channels
V12 Is The #1 Website That Occurs After An Organic Search For ‘Retail Finance’.
This Means Their Search Engine Optimization (SEO) Is Good.
As A Result, SEO And Pay-Per-Click (PPC) Advertising Will Not Be Pursued In
This Marketing Project.
Interactive Advertising, In The Form Of ‘Banner Ads’ And ‘Remarketing’ Will Be
Used.
This Can Generate High Levels Of Awareness For The Organization And Deliver
Highly Targeted Leads That Can Be Converted Into Acquisitions.
These Approaches Will Be Used On Websites And Social Networking Sites.
30. CNE CONSULTANCY
DIGITAL MARKETING
Software
A Mobile Application And Digital Portal Will Also Be Used.
A STB RF Mobile App Will Be Launched At The Commencement
Of The Rebrand On IOS And Android.
Will Enable Two-Way Communication Between STB RF And Clients / Consumers,
Account Management For Clients / Consumers ‘On-The-Go’ And Contain Market
News.
A Digital Portal On STB RF’s Website Will Be Used To Provide Convenience To
Clients / Consumers Exclusively. They Will Be Able To Manage Their Finance
Accounts And View The Organization’s Operation, As Well As Utilize Various Other
Features.
32. CNE CONSULTANCY
BUDGET
The Marketing Project Was Set A Budget Of £180,000.
£90,000 Was Allocated To Offline Marketing Activities And £90,000 To Online
Marketing Activities.
Offline Costs (Estimated):
£38,100 for Integrated Marketing Communications.
- £29,250 For Market Research.
- £8,850 For 75 STB RF Branded Tablets
£21,000 for Internal Marketing.
- £400 Breakfast For 80 persons.
- £130 For 150 Booklets.
- £10,500 For A ‘Goodie Bag’ And Its Contents For 80 Persons.
- £10,000 Allocated For Overnight Rebrand.
Online Costs (Estimated):
£86,610 For Digital Marketing.
- £360 For LinkedIn Premium.
- £42,000 For Digital Acquisition Channels.
- £29,250 For Software.
- £15,000 For HR.
34. EVALUATION METHODS
CNE CONSULTANCY
Integrated Marketing Communications Evaluation
Marketing Metrics: ‘Brand Awareness’, ‘Rebrand Awareness’,
‘Impressions’, ‘Online Share of Voice’, ‘Return on Marketing Investment’,
‘Click Through Rate’ And ‘Pay Per Click’.
Analysis Of Website And Social Networking Visits.
Analysis Of STB RF Account Figures.
35. EVALUATION METHODS
CNE CONSULTANCY
Internal Marketing Evaluation
Staff Members Will Be Asked To Fill In A Questionnaire After The
‘Breakfast Morning’, And The Rebranding Process Has Concluded.
The Questionnaire Will Ask How Staff Felt About Whether They Were
Aware Of The ‘Breakfast Morning’, Whether They Attended The Event,
The Success Of The Event And How They Felt The Rebranding Process
Overall Was Handled.
36. CNE CONSULTANCY
EVALUATION METHODS
Digital Marketing Evaluation
Marketing Metrics: ‘Online Share of Voice’, ‘Online Impressions’,
‘Bounce Rate’, ‘Click Through Rate’ And ‘Pay Per Click’.
Analysis Of Website And Social Networking Visits/Users.
Examination Of Mobile App Downloads/Logins.
Analysis Of Digital Portal Logins.
38. CNE CONSULTANCY
CONCLUSION
The Marketing Project Aims To Ensure A Successful
Tradition Of The V12 Retail Finance Branding Into The
Branding Of STB RF.
The Project Intends Do This Through Integrated Marketing
Communications, Internal Marketing And Digital Marketing
Activities.
It Has Been Estimated That These Activities Will Cost
£145,710 To Conduct.
40. REFERENCES
CNE CONSULTANCY
1. Ikano Bank. 2015. ‘About Ikano’. (Online). Nottingham. Available at:
http://ikano.co.uk/about-ikano
2. Mintel.2015a. ‘Car Finance UK May 2015’. (Online). London. Available at:
http://academic.mintel.com.abc.cardiff.ac.uk/display/737735/?highlight
3. The Conservative Party. 2015. ‘Our Long Term Economic Plan’. (Online). London.
Available at: https://www.conservatives.com/Plan
4. BBC. 2015. ‘UK Economic Growth Picks Up To 0.7% In Second Quarter’.
(Online). London. Available at: http://www.bbc.co.uk/news/business-33686358
5. The Telegraph. 2015. ‘Is The UK Economy On Another Credit-Fuelled Binge?’.
(Online). London. Available at:
http://www.telegraph.co.uk/finance/economics/11770654/Is-the-UK-economy-on-
another-credit-fuelled-binge.html
6. The Telegraph. 2012. ‘Public “More Disillusioned Than Ever” With Banks’. (Online).
London. Available at:
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9461882/Public-
more-disillusioned-than-ever-with-banks-Which-finds.html
41. REFERENCES
CNE CONSULTANCY
7. Mintel. 2015b. ‘Digital Trends Spring UK March 2015’. (Online). London. Available
at: http://academic.mintel.com.abc.cardiff.ac.uk/display/732276/?highlight
8. The Huffington Post. 2015. ‘Is Social Media In Financial Services a Friend or Foe?’.
(Online). New York. Available at: http://www.huffingtonpost.com/kitty-parry/is-social-
media-in-financ_b_6534354.html
9. ONS. 2015. ‘Expenditure on Health Care in the UK 2013’. London. Available at:
http://www.ons.gov.uk/ons/rel/psa/expenditure-on-healthcare-in-the-
uk/2013/index.html
10. Smith, PR. 2011. ‘The SOSTAC Guide to Writing the Perfect Plan’. Self Published
E-book.
