Transformative and enduring repositioning and service propositions for NatWest Business Banking
The Situation
NatWest has over one million business customers. In the wake of Brexit, the bank and its brand had lost touch with the “heartland” customers who were most negatively impacted by Brexit. By continuing to focus on “good times” value drivers such as growth and innovation – geared to its large enterprise and small start-up customers – the bank (whose reputation was already suffering from branch closures, the afterburn of the financial crisis and many other issues) was in danger of further losing credibility and relevance with its core – and most vocal – customer base, at the very time when they had never needed more support.
The Task
The legendary RBS CMO David Wheldon, with whom we had already worked for about year, having been brought into the group by CEO Ross McEwan in early 2017, put us into the business banking marketing team to make sure the brand was on the right track before launching a new national advertising campaign.
The Action / Approach
In just a few weeks, we were able to halt the problem trajectory, and introduce a new value proposition and positioning based around “customer solidarity” and the premise that what was most needed from the bank was to stand “shoulder to shoulder” with real people, running real businesses, facing real crisis. This led directly and rapidly to the development and first stage delivery of an entirely new range of supportive customer services, and a revised advertising campaign that reflected this profound and urgently needed turnaround.
The Result
We’re not permitted to share commercial impacts. However, readers will be aware of the highly successful – and still expanding – NatWest Business Hub, and the very regular learning sessions that the brand hosts to inform and update its business customers.
We discussed the work again recently with David Wheldon, and he put the outcomes as directly as you’d expect. “You saved our bacon.”
