TSB announces the launch of its latest marketing campaign focusing on the power of partnerships. The TV, print and online campaign reflects on the Bank's unique focus on partnerships and how, like every great partnership, the more you put into it, the more you get out of it. TSB calls this Plusness.
Watch the new 40-second TV spot, "Partnership and Plusness", here.
The animated ad, which airs on TV from 14 March 2016, opens with " TSB was built to help ordinary local people right across Britain to thrive". This is followed with an explanation of how TSB has instilled its partnership ethos throughout the Bank.
The animation - created by multi-BAFTA winning and Oscar-nominated studio AKA- shows a mother and her children playing at a carousel playground. Struggling to move the carousel by herself, the mother gets help from another in the playground, which causes the carousel to speed up and bring smiles to the children's faces. The TV spot ends with the line, " TSB Partners are here to help you, not just sell you stuff".
Classic Plus account
To partner the new TV advert, TSB is also building on the success of its recent campaign, launched in September 2015, which promotes the challenger bank's Classic Plus bank account offer:
- Five per cent interest on the Classic Plus account on balances up to £2,000 - and unlike other banks TSB won't whip the five per cent interest away after the first year. i
- Five per cent cash back on the first £100 of contactless debit card payments made from a Classic Plus account each month. ii
- Five per cent interest on the TSB Monthly Saver account. iii
Watch the new 30-second clip, "Plusness", here. This will air from 28 March 2016.
Why TSB partners are TSB partners
TSB was set up to help hard-working local people, and the communities they live in right across Britain, to thrive - what the Bank calls 'Local Banking for Britain'.
The Bank knows that when customers are happy they'll want to carry on banking with TSB. A good way to make sure they are happy is by working in partnership. That's why TSB employees are called Partners - they work in partnership with each other and with customers too.
Partners are rewarded when they do as much as they can to actively help people, not just when they sell them things. Sales targets have been removed, so there's nothing to distract them from doing just that.
Furthermore, every TSB Partner is able to share in the Bank's success through the 'TSB Award', which Partners receive only when they deliver brilliant service (which means doing as much as they can to serve customers' interests) and when the Bank makes a profit.
The TSB Award for 2015 is made up of an overall pot in excess of £26 million. That means eligible Partners receive a sum equivalent to 12.5 per cent of their basic salary - more than six weeks' pay.
Nigel Gilbert, Chief Marketing & Communications Officer at TSB, said: "When we launched TSB, we were very aware that banks had lost their connection with the local communities they had been set up to serve. We wanted to put that right. So, we focused on creating a bank that has a partnership with local communities.
"But partnership is more than just that; it's about partnership with our customers and between everyone who works within TSB. That's why we call ourselves Partners and why we are rewarded when we do as much as we can to actively help people, not just sell them things. And our approach is working. A record number of customers are willing to recommend TSB to friends and family, and people continue to vote with their feet with more than 1,000 new customers a day flocking to TSB last year iv."
Damon Collins, founder of Joint, TSB's creative agency, said: "TSB has proven hugely successful in only a few short years. This is largely thanks to the way it consistently does things differently to the big, incumbent banks.
"Its partnership ethos and ensuing campaign is further demonstration of TSB's challenger credentials. Thank goodness for brands with meaningful points of difference."
The media buyers for the new campaign are Manning Gottlieb OMD.
Notes to editors
TSB was built to bring more competition to British banking - to be a real challenger to the big banks and to deliver the kind of banking the people of Britain want. TSB only serves local customers and local businesses, to help fuel local economies, because communities thriving across Britain is a good thing for all of us.
We have a simple, straightforward and transparent banking model and make clear on our website how we operate and make money. We offer the products and services people tell us they want, with none of the funny stuff people normally associate with traditional banks.
For further information about TSB Bank plc, please visit our website www.tsb.co.uk.
Joint is the creative agency of record for TSB and has worked with the bank since before its launch in 2013.
The Local Banking for Britain campaign has won the Marketing Society Award 2015 (Best New Brand), Masters of Marketing Award 2015 (Best Brand Re-invention Grand Prix) and the Financial Services Forum Award 2014 (Best Advertising Campaign).
Joint works with numerous other businesses, on a local and global basis, including Amazon Prime, Thatchers Cider, Vue and UKTV.
iTSB Classic Plus account gives 5% AER/4.89% gross variable interest on balances up to £2,000 (no interest on balances more than £2,000). Interest is paid monthly. You must pay in at least £500 a month, register for Internet Banking, paperless bank statements and paperless correspondence. You must be 18 or over and a UK resident to apply.
iiTo be eligible for contactless cash back customers must hold a TSB Classic Plus account, have a contactless debit card and be registered for internet banking. Cash back is available on the first £100 on qualifying purchases each calendar month. Cash back is paid monthly. Your Classic Plus account must be open at the time cash back is paid. Cash back will be paid on qualifying purchases made up to and including 31 December 2016, unless we tell you otherwise.
iiiMonthly Saver interest 5% gross AER for 12 months, paid end of term. Monthly standing order between £25 and £250. Instant access. Cannot replace money withdrawn. Rates are correct for new accounts opened on or after 01/07/2015. Interest rates are fixed for the term of the account, which is 12 months from the date of account opening. Must have a TSB Current Account.
- A record number of customers are willing to recommend TSB, shown by our Net Promoter Score increasing to 17 from nine during 2015.
- More than 1,000 new customers flock to Britain's challenger bank every day.