Integrated Marketing Communications for Barclays plc

This report discusses the concept of integrated marketing communication and its importance for Barclays plc, a multinational investment bank. It provides an overview of the organization, current communication objectives, evaluation of objectives, highlighted communication channels, and a marketing communication plan to increase revenue. The report also includes recommendations for Barclays plc.

Integrated Marketing
Communications

Table of Contents
INTRODUCTION...........................................................................................................................1
ACTIVITY A...................................................................................................................................1
Overview of the selected organisation........................................................................................1
Current communication objectives in context with firm.............................................................2
Critical evaluation of those objectives........................................................................................3
Highlighted select channels of communication..........................................................................3
Critical evaluation of those channels..........................................................................................4
Overall marketing communication plan to increase firm's revenue to help meet the business
goals............................................................................................................................................5
Recommendations from the above specified information..........................................................6
ACTIVITY B...................................................................................................................................7
IMC situational analysis..............................................................................................................7
Target market(s) and decide appropriate SMART communication objectives...........................9
Various marketing channels and select the appropriate channels for your new product /service
.....................................................................................................................................................9
Marketing channels could be integrated...................................................................................10
Formulation of particular content..............................................................................................11
Budget for IMC plan.................................................................................................................11
Control and monitoring mechanism..........................................................................................12
Organisation is able to achieve its goals successfully...............................................................12
CONCLUSION..............................................................................................................................13
REFERENCE.................................................................................................................................14

INTRODUCTION
Integrated marketing communication refers to the simple concept, it ensures that all over
the forms of communication along with messages are linked together. It is always considered as
a basic level or it is also known as IMC. It means it is the integration of different types of
promoting tools so that they can work together in a specific harmony (Timofeeva and et. al.,
2016). Therefore, these sorts of communication channels always work better and if they work
together than they are able to offer different types of voice channels and speak consistently each
and every time. Apart from this, IMC helps firms to increase their communication channels by
which they can easily get connected with the people and able to fulfil customers needs and
wants. There are other levels of integration like horizontal, internal, vertical and so on. This
report is based on Barclays plc which is one of the best British Multinational investment bank
and financial services organisation. It is headquartered in London and was established in the year
of 1690. Moreover discussion will be based on several marketing channels and how they serve
communication objectives. Channel integration and produce content to the channel and
communication. At last, case study that involves communication strategies, channels choice and
creative content will get covered.
ACTIVITY A
Overview of the selected organisation.
Barclays plc is one of the best funding and investing organisation which is headquartered
in London and it operates their services from 17 November 1690. apart from this, this business
also involves in four core businesses that are corporate banking, personal banking, wealth
management and investment management as well (Valos and et. al., 2016). Firstly this firm
started their all over services within London in order to take care of people services in a better
way so that they are able to protect their fund. At present this firm is able to expand its business
across the globe in order to give better services to people. Barclays is one of the firm who has
primary listing on the London stock exchange and it is a constituent of FTSE 100 Index.
Therefore, it is most powerful transactional corporation in the form of corporate control and
ownership over the global financial services.
In order to maintain their reputation in all over the world this firm generally used so
many cookies and websites, by which they can easily communicate with people and updated
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them about their invested fund. With the help of this they can easily improve their overall
websites which can improve its browsing experience so that they are able to give better services
to people in an effective manner. Therefore, the overall material of this firm is irreplaceable,
priceless and unique so that they can easily communicate with people about strength and
weaknesses of fund values in a proper manner. So that each and every blue chip firm should use
several kinds of tools and techniques in order to achieve targeted goals and objectives in an
appropriate manner (Shkurkin and et. al., 2016). So that it is known as one of the famous firm
which always take care of people needs and wants and satisfy them in an appropriate manner.
Current communication objectives in context with firm.
Communication objectives generally depends upon several kind of advertising and
promotional channels in order to influence customers towards firm. Herein, Barclays is one of
the best investing fund and financial service firm so that they always need to make effective
objectives of communication so that they can easily meet customers needs and wants within
short period of time. As this firm is using two types of communicating channels like verbal and
non verbal by which they are able to find better objectives those are going to be discussed below:
Building awareness: It is most essential objective in order to develop awareness towards
new product and services within consumer's mind. Herein, Barclays always able to make good
relations with its customers so that they can easily develop better identity at marketplace along
with able to gain communication benefits.
Developing interest: Sometimes people who are potential for firm are already familiar
with certain goods and financial services. But at the same time there are few people who are not
aware about new services and policies of firm (Thaichon and Quach, 2016). Therefore,
respective firm should make something different by which people can take interest within that
and able to invest huge money. So that it is beneficial for them to achieve targeted goals.
Providing accurate information: According to this objective, it is required for firm to
seeking phase of buying process. Through providing accurate information to people they can
select their desirable services and make firms attractive. Along with firm is also able to gain
competitive advantages by beating their competitors.
Stimulating demand: This type of communication objective needs more demand. In this
respective firm is required to have specific aim and purpose by which they can develop some
trial software along with free trial in order to give demo of their services towards customers at
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marketplace. Therefore, it is also considered as a main objectives to achieve desired goals within
short period of time.
Critical evaluation of those objectives.
In order to give critical evaluation this can be said that there are mainly two objectives
which is followed by Barclays every time to achieve targeted goals and objectives. That are
building awareness and offer relevant information (Place, Smith and Lee, 2016). With the help of
these sorts of objectives they can reach appropriate customers base and able to meet market
needs and wants every time. Through considering both objectives respective firm is able to fulfil
customer's needs and desires and make unique tools in a perfect manner. Therefore, this can be
said that respective firm should regularly those objectives to gain better identity at marketplace
through giving huge satisfaction to employees as well as customers.
Highlighted select channels of communication.
Communications channels refers to the media that generally modify customers and
employees of an organisation in order to communicate with others. Therefore, communication
may be formal or informal (Saenko and et. al., 2016). In reference with Barclays, they mainly
use large number variety of channels so that they can understand customer's needs and wants.
There are different types of channels which is followed by Barclays, those are going to be
discussed below:
Use of Direct marketing:
On the basis of different brands, Barclays also using different types of marketing
channels by which they can directly deliver their services via mail to customers. Therefore, it is
easy for customers as they can read instantly and able to buy any offer from this bank services.
This is very good channel for those people who are not able to come in bank so that they can
directly contact with them towards funding services (Key and Czaplewski, 2017).
Sales Promotion:
Barclays always able to use different types of services and approaches in order to
distribute huge benefits and great schemes like events, high rate of interest and such kind of
things by which they can achieve their goals. With the help of this they can promote its sale at
high level and make investors happy.
Billboards and hoardings:
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Respective firm able to use different types of hoardings and billboards to advertise its
financial services. In context with rural areas this firm apply so many methods such as painting
on the walls along with put its aid on so many groceries stores etc. on the basis of this they can
help customers to select their funding services in an appropriate manner.
Use of social media:
After overall evaluation different types of channels respective bank is able to choose
social media platform such as Email, Facebook, Instagram and so on. As this bank has their own
official page so that they easily put their content and put huge information about their services in
a perfect way (Patti and et. al., 2017). With the help of updated information customers can easily
access and able to invest fund desirably.
Organizing Annual meet ups:
According to this channel respective firm is able to put efforts and organize annual
meetings wherein, they can easily meet customers needs and able to talk about profit, sales and
revenue as well. With the help of taking such kind of initiative they can consider different types
of issues by which they can overcome that and satisfy customer's needs or wants. It will help
Barclays to achieve desired goals successfully.
Critical evaluation of those channels.
From the above specified different types of marketing channels it can be analysed if firm
will use these assorted channels than they can achieve their desired goals and able to give
satisfaction to people (Naumovska and Blazeska, 2016). On the other side they can meet each
and every customer's needs and provide them better ways for communicating people to each
other in a perfect way. So that it can be said that all channels of marketing are very important for
firms and banks to achieve targeted goals.
Difference between sales promotion and personal selling
Personal selling Sales promotion
 It is the way of promoting goods and
services to get in touch with customers.
 It consist direct communication and
face to face conversations.
 In this goods and services can easily
promote without any personal contact.
 It is based on indirect communication.
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Overall marketing communication plan to increase firm's revenue to help meet the business
goals.
Marketing communication can be describe as the unique way which is mainly opted
through an organisation in order to communicate their message to target so many customers.
Along with this there are so many ways by which Barclays is able to maximise their sales and
profits through distributing goods and services to the customers (Manser Payne, Peltier and
Barger, 2017). Therefore, Barclays needed to formulates marketing communication plan which
has been specified below:
Research analysis: It is essential for firm to identify overall situation of current market.
With the help of this firms are able to develop so many techniques and tools in order to achieve
fixed goals and objectives. In reference with Barclays in order to analyse strength, weakness,
opportunities and threats. This is going to be discussed below:
Strengths:
It is successful firm by having huge integration of different types of technologies so that
they provide high quality of product and services to by understanding demand of customers.
Weakness:
The major weak point of this firm is to there are few gaps within the range of products
which are generally sold by firm.
Opportunities:
There are lots of new trends within consumer behaviour by which they can open up new
market for Barclays along with there are lots of opportunities to build new revenue streams in a
perfect way.
Threat:
Changing consumer buying behaviour from the online channel can be the big threat for
firm.
Audience and identification: After considering overall market situation firms is able to
known about itself through conducting SWOT analysis (Juska, 2017). Therefore, it is necessary
for them to develop for marketing communication towards audience to achieve targeted goals.
According to this research analysis it can be said that Barclays bank is weak as they have lots of
gaps between communications channel so that they should make proper way to achieve target
market appropriately.
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Objectives: To formulates effective communication channels by which they can attract
large number of customers and people at marketplace towards their financial services and
policies in a perfect way (Keller, 2016).
Strategy: In order to get better position and success in marketplace it is necessary for
them to adopt unique strategies for communication so that they can achieve their targeted goals.
Tactic: It is also very important for firm to create tactics with unique strategies. With the
help of this they can achieve its target and Barclays able to face any kind of difficult situation
within the marketplace. Furthermore, respective firm is needed to have or pull marketing
strategies so that they can find out better ways to reach its target at marketplace.
Budget and control: It is important to decide for Barclays to make unique budget
statement in order to conduct marketing plan in a perfect way. Therefore, budget is one of the
best way for firm to gain successful growth. So that budget will be needed around £5000 to make
effective communicating ways to customers.
Implementation: According to this stage Barclays, it is important for Barclays to
implements on unique tools and strategies by which they can make effective plan of marketing
and able to achieve business goals. For this, they are able to execute on unique and different
types of ideas by which they follow several marketing tools and strategies an able to advertise
their services in front of people at marketplace.
Evaluation and control: It is the last stage in which firms is required to make control on
marketing plan. As it is the last step of marketing plan so that herein, respective banking firm is
able to perform their overall activities in a better way along with implements on new plan.
Therefore, they should use make better plan in a perfect way to achieve targeted goals and
objectives (Heller, 2016).
Recommendations from the above specified information.
There are few recommendations for Barclays plc which will help them a lot to
maximising its overall performance in a perfect way. Herein, manager of bank is needed to
consider several recommendations as per their customer's basis. Some of the recommendations
are elaborated below:
 It is necessary for firm manager to select and hire knowledgable or skilled employees so
that they can increase their working performance and able to achieve their targeted goals
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and objectives. Along with they should focus to modify HR resources to take appropriate
decision to reach goals.
 They should always use of digital marketing along with social networking sites by which
they can make more ways to communicating with people to produce their services. Along
with this technique is not much costly so that it is helpful for firm to achieve goals.
ACTIVITY B
In Barclays plc, there is problem related to the communication that impact negatively on
performance as well as profit level of business. It develop negative impact on the customer
relationship management (Hsu, Lin and Tsai, 2016). In context to get over from this issue, IMC
plan will be developed. This ensures that all messages and communication forms are linked
together.
IMC situational analysis
Under this, lack of the communication is one of main issue that has been arisen in the
Barclays bank. Through developing IMC plan, Barclays plc can follow the effective
communication channels and also handle all complaints of consumers on the daily basis. It will
help in managing the strong relationship with consumers and attain the business and marketing
objectives within specific period of time. It will aids for company to attaining the competitive
benefits. In this, situational analysis is an analysis of external and internal factors of business.
This determines capabilities of business, consumers, businesses environment, potential
consumers and also their impact on an organization (Duralia, 2018). In context to this, SWOT
analysis is an effective method to analyses. With the help of this, strengths, weakness,
opportunities and threats can be determined and focus on minimizing the negative impact on
Bank. The SWOT analysis is strategic planning technique that mainly used to assist an individual
to determine strengths and weaknesses concerned with business competition. SWOT analysis is
given below:
Strengths Weakness
 The main strength of Barclay is that it
has high skill of people by provide
them successful learning as well as
training programs. This bank invest
 Major weaknesses of Barclays bank is
not using the appropriate advertisement
strategy as this will negatively impact
on brand image of company in mind of
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money in conducting the training
program to its staff members. It will
help in enhance productivity and also
success of business.
 Barclays Bank has the free cash flow
that provide various resources in
company for expansing in the new
projects.
consumers in competitive marketplace.
 Another weaknesses is related to
minimum customer relationship
management that faced through
Barclays bank. This develop negatively
on growth and performance of
company.
Opportunities Threats
 There is an opportunity to Barclays to
develop market that can lead to dilution
of advantages of competitors and able
to enhance competitiveness as
comparison to other rivals (Gabrielli
and Baghi, 2016).
 The free cash flow will provide better
opportunity to make investment in
adjacent goods section. With the high
amount, company can invest in the new
product segment and adopt the new
technologies, it helps in open the
window of opportunities for the
Barclays bank in the other categories
products.
 Expansion and the growth changes in to
emerging countries provides the high
opportunities for bank. It will assist in
make improvement in image of brand
at global level.
 High competition is a main threat for
Barclays bank. It impact directly the
market share of company.
 The Barclays bank can face the
different lawsuits in conducting the
business in to various markets. Under
this, different legislations and the
fluctuations in product service
standards is a threat.
 Barclays bank plc can face the threat in
customer service form from some other
challengers such as if competitors are
promoting customer services and care
related to consumers then in this case
company can lose its consumers and
there is a need to Barclays to provide
high level of the consumer services as
comparison of rivals (DIACONU,
OANCEA and BRINZEA, 2016).
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Target market(s) and decide appropriate SMART communication objectives
An Integrated Marketing Communication plan is approach that attain marketing
campaign objectives by the well- coordinated use of the various methods of promotion which
intended to be reinforce with each other. Under this, to work efficiently for the Integrated
Marketing Communication strategy, this is very critical that a company chooses the right target
market in context to direct their marketing efforts correctly and effectively into target market
consumer groups.
Target market is group of consumers within serviceable market at which aim of business
is marketing resources. This is subset of total market for service or product. In relation to
Barclays bank, the main target market for integrated marketing communication plan will be the
young consumers. Sin this present time, youngsters use the mobile applications more for doing
financial transactions (Chenini and Cherif, 2016). Due to this, it will permit an organization to
increasing consumer base, develop strong or positive relationship with consumers so that
business can be sustain for long period of time at marketplace. In banking industry, company is
planning to introducing the application that will provide the information about accounts and
access the banking services with the help of that applications. In context to this, other prominent
aspect is inclusive in service that concerned to Facial Recognition as the medium to access
facility of the mobile banking.
Under this, new plan should have some specific objectives which aids Barclays to make
improvement in marketing communication in an effective or appropriate manner. Different
objectives related to launching new products are given below:
 Barclays bank emphasizes on increasing the customer feedback in positive manner by 6%
within 8 months of execution of marketing plan.
 With new integrated marketing plan, aim of Barclays bank is to maximizing sales volume
around 13% till next 7 months (Bruhn and Schnebelen, 2017).
 With the help of using an Integrated Marketing Communications, Barclays bank can use
the social media and digital marketing to reach at large number of consumers throughout
2 years.
Various marketing channels and select the appropriate channels for your new product /service
Marketing channel is people, activities and firms require to transfer ownership of
products from production to consumption point of view. It is an effective way that goods get to
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end user means customers. This is distribution of goods from manufacturer to customer. It helps
company to expand its reach and revenue. According to the above mention information, there are
different marketing channels which Barclays can be used to develop appropriate network of
communication effectively. This is necessary that each communication channel is evaluated
critically against each other to choose suitable one for attaining the common objectives. Under
this, Advertisement and Sales promotion are the effective marketing channels which Barclays
can be used for marketing the new product that introduced through bank i.e. Mobile application.
The sales promotion is process of persuading potential consumers to purchase goods. This is
designed to use short term tactic to enhance sales. This method is effective in developing
customer loyalty for long time period (Blakeman, 2018). On the other hand, advertising is
market communication that employ non- personal and sponsored message to promote idea or
service. In context to this, sponsors of the advertising to promotion of services and products
effectively. There are many different reasons behind selecting the advertising and sales
promotion channels of marketing are given below:
Market penetration- Personal selling is long term process and the public relation will
attract existing consumers to reach at global level. In context to sales promotion, social media
and newspapers are effective strategies to attract the people. On social media, there are large
number of people connected and through this company can connect with them and provide the
information regarding benefits of using new services. Newspaper is effective or convenient for
older generation for marketing.
Product usage- In this, usage of product is one of the effective marketing channel related
to promotion. The new application of Barclays would give many benefits in the banking industry
in context to safety and security of financial and personal information. To keep information safe,
there is facial recognition activated effectively. In regards to this, an advanced technology should
be communicated to target market by compelling the promotional content that can not be attained
through some other channels such as Public relations and Personal Selling. It could only be
attained with the help of advertisement. On the other hand, sales promotion could be effective in
reach at large number of consumers that helps in enhance sales of company.
Marketing channels could be integrated
Sales promotion and advertisement are effective in attracting the large number of
consumers and also assuring the high sales. An integrated approach is required to adopted
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through Barclays bank in related to increasing scope in marketing communication. Integration
and Amalgamation are sales channels which give many advantages to increasing scope of reach.
Sales promotion helps in traditional and digital methods to give advertisement related to new
product. On the other hand, advertisement is needed through other channel to develop true
content that can give messages to consumers. In related to it, advertisement can develop
marketing campaign that would go around sales promotion. It will help in give effective
opportunities for attracting the potential consumers towards new services. Through this, the set
marketing objectives can be attained effectively. Other reason behind selecting these channels is
to increase value and assure more resources that helps company in develop strategies and deal
with the large number of competitors (Andrews and Shimp, 2017). Both the methods would
target consumers and attract them towards new services that launching by Barclays bank.
Formulation of particular content.
Through considering on overall integrated marketing channels for communicating and
promoting is necessary for respective firm. Herein, Barclays plc select effective and unique
content for marketing by which they can attract large number of customers in a perfect way.
Therefore, it plays significant role and improve sales effectively. There are some type of content
which is adopted by Barclays plc. Mentioned below:
Newspaper advertisement: It is one of the attractive way of communication with people
towards particular goods and services. Along with it is mainly consider as a traditional method of
marketing that has main content in newspaper. With the help of this advertising techniques they
can reach large number of buyers or investors that includes huge scope for gaining customer's
attention in an appropriate manner.
Budget for IMC plan.
It is necessary for Barclays to establish effective budget plan. It will help them to take
different types of decision towards several goods and services to maintain each and every task in
a perfect way. Along with there are several sorts of activities that generally includes in the
marketing plan of Barclays to measure plan of budget. There is estimated budget for this firm to
communicate with people in a perfect way, is mentioned in beneath:
PARTICULARS AMOUNT (£)
Human Resources 50,000
Subscriptions and Software 70,000
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Sales Promotion Campaigns 500,000
Newspaper Advertising 325,000
Social Media Advertising 415,000
Content Production 222,000
Creative Agency Fees 100,000
TOTAL 1,682,000
Therefore, it can be analysed that, on the above specified marketing budget plan which is
formulated by Barclays should more concentrates on overall advertising tools in order to attract
more customers and people at marketplace through developing new tools and strategies.
Control and monitoring mechanism.
There are different types of paths which is mainly adopted by Barclays in order to control
and monitor their overall business scenario in a perfect manner. Therefore, it is necessary for
firm to monitor and control overall activities through integrated communication planning. With
the help of this they can measure and evaluate their performance and bring few modifications
within businesses to improve standards. Along with it helps them to target customers and target
customers through mechanism and controlling overall process of business. There are different
types of controlling process those are mentioned below:
Benchmarking analysis: On the basis of this tool, respective firm is able to improve
their overall performance towards work that also encourages employees among working
performance. This analysis will helps them to measure overall task in firm.
Key performance indicators: It is the best way of controlling and motoring overall
activities of employees at workplace (Camilleri, 2017). With the help of KPI manager of
respective firm is able to provide several guidance to their employees so that they can work
accordingly and able to manage their work towards achievement of goals and objectives.
Organisation is able to achieve its goals successfully.
According to the above mentioned points this can be said that through having so many
tools and techniques Barclays plc is able to achieve its goals. Along with they provide so many
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services and techniques to their customers by giving them unique ways of funding. As it has
great identity at marketplace so that people mainly trust on this bank and invest more. It will
maximise their value and increase profits.
CONCLUSION
According to the above specified report it has been evaluated that, Integrated Marketing
Communication play significant role within the organisation in order to better development of
business in a perfect manner. It is very effective and helpful for firm to attract customers in a
perfect way. There are different types of marketing channels which all are helpful for firm to
achieve its desired goals and objectives. By following best channel of marketing firm is able to
make their goals attractive to gain huge success in the market. Therefore, IMC plan make firms
attract so that they can achieve desired goals.
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