A Sector Practice

LAUNCH OF A NEW BANK

Launch of a new bank

1

Background

Our client, a challenger bank, wanted a 12-month PR programme to relaunch its brand with new SME-focused messaging, with the aim of quickly increasing the size of its SME loan book.

2

Strategy

We quickly recognised that if Aldermore could position itself as a champion for SMEs (one of its main markets), then it could clearly differentiate itself from competitors and become the go-to commentator for the national media – we were the first to take this market position. Other activity delivered as part of the PR programme included:

  • Issuing commentary and research on SME finance which had become a hot topic
  • Seizing and creating opportunities to comment on other SME business issues such as tax, payment terms, red-tape, Government contracts for small businesses etc.
  • Developing Aldermore’s corporate profile through a series of meetings with senior journalists. In 12 months, we organised 24 meetings with senior banking and business writers on the national papers
3

Results

In under a year, we generated 61 pieces of national broadcast and print coverage that was directly and entirely attributable to our work – transforming Aldermore’s profile and helping propel their growth. The PR programme also helped our client achieve:

  • A 77% increase in lending to its key sector of SMEs to £525m. In addition, the number of savings customers had risen by 169% to 37,300, the value of their residential mortgage book had increased by 778% to £280m and deposits had almost trebled to £878m.
  • A successful relaunch which ultimately culminated in a sale to South African bank FirstRand for over £1bn

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