Marketing Strategy of Barclays

Running head: PROMOTIONAL TACTICS OF BARCLAYS BANK
Promotional Tactics of Barclays Bank
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PROMOTIONAL TACTICS OF BARCLAYS BANK1
Table of Contents
Task One..........................................................................................................................................3
1.0 Introduction................................................................................................................................3
1.1 Background or Overview of Barclays Bank..........................................................................3
2.0 Promotional Mix and Activity of Barclays Bank......................................................................5
2.1 Advertising............................................................................................................................5
2.2 Public Relations.....................................................................................................................6
2.3 Sales Promotion.....................................................................................................................7
2.4 Personal Selling.....................................................................................................................9
2.5 Direct Marketing..................................................................................................................10
2.6 Internet Marketing...............................................................................................................11
2.7 Sponsorship..........................................................................................................................15
Task Two.......................................................................................................................................16
1.0 Model 1 (AIDA)......................................................................................................................16
1.1 Definition of Model.............................................................................................................16
1.2 How Barclays Bank applies the AIDA model.....................................................................17
1.3 Evaluation of Effectiveness.................................................................................................18
2.0 Model 2 (Communication Model)...........................................................................................19
2.1 Definition of Model.............................................................................................................19
2.2 How Barclays Bank applies the Communication model.....................................................19
2.3 Evaluation of Effectiveness.................................................................................................20
References......................................................................................................................................22

PROMOTIONAL TACTICS OF BARCLAYS BANK2
Task One
1.0 Introduction
1.1 Background or Overview of Barclays Bank
Barclays PLC is a reputable British Multinational financial banking and services
company and investment bank, which is situated in London. Apart from the sector of investment
based banking, Barclays organizes itself into other four core business sectors. These are focused
on investment management, corporate banking, wealth management and personal banking
sectors. Barclays Bank traces their major origins to the business of goldsmith banking that was
established in London during the year 1690 (Home.barclays 2020). During the year 1896, the
various banks situated in London and other areas of the English provinces, which had also
included the Gurneys Bank and Backhouse Bank, had formed a major collaboration with the
Barclays Bank. However, in the past years, The Company had expanded their reach to establish
themselves to a recognized nationwide bank.
Barclays has made different kind of corporate acquisitions, which includes the corporate
acquisitions made with the Provincial and South Western Bank during the year 1918, Mercantile
Credit in the year 1975, Woolwich in the year 2000 and the North American operations created
by Lehman Brothers in 2008. The Barclays has formed their primary listing in the London Stock
Exchange and their secondary listing within the New York Stock Exchange (Sheikh and
Kimencu 2017). The company thus offers their strong presence in US and UK while defining
their businesses into the Barclays United Kingdom and Barclays Corporate and International.

PROMOTIONAL TACTICS OF BARCLAYS BANK3
In the past era of banking, there was no such massive need for the creation of efficient
marketing strategies that included innovation, creativity, maintaining customer and public
relations, marketing and promotions research. However, in the present times, there has arisen a
huge need for the businesses to develop some core strategies in order to remain existent in the
present competitive market (Oanda 2015). In order to diversify their strategies, Barclays has
developed an extreme diverse and advanced portfolio based on financial services by provisioning
services towards customers for management of money.
In relation the domain of marketing, Barclays have segmented their financial market on
certain demographics and psychographics variables that include income, occupation, age groups
and many others. The company uses differentiated form of targeting strategy for catering to the
rising needs of corporate investors, customers and various individuals who are linked to them
(Nasir et al. 2015). In order to provide exclusive services to their customers, Barclays have
increased their reach to customers by using an extensive range of services and products. They
have also hired trained officials who are highly committed towards the delivery of banking
solutions by assuring the best outcomes. Barclays is considered to be the first company who had
unveiled their ATM services in the year 1967 while also acquiring major stakes in the various
corporate houses.
The company own nearly 48 million customers and the various operations that are
supported within their platform demand for an effective and better policy of pricing that could be
acceptable for different customers and business institutions. The digital services offered by the
banking sector of Barclays helps customers in the management of their daily banking
transactions through online channels such as Barclay’s iPortal, Business Portal and Internet
Banking.

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2.0 Promotional Mix and Activity of Barclays Bank
2.1 Advertising
Different reports in relation to advertising of Barclays bank have revealed the fact in
digital marketing as their major advertising strategy. The company provides end-to-end solutions
for attracting their clients. Based on their recent advertisements, Barclays have led to education
to their customers based on their financial needs. They also make strategies based on helping
customers to achieve their financial needs (Mogaji and Danbury 2017). In order to meet the
exclusive needs of customers, they have made use of agile based strategies for the creation of
content based on different scenarios. Producing content based on editorial style based on a
campaign basis has become the major priority.
The customers of Barclays are considered as the individuals and corporate investors who
would be making use of investment and financial consultancy services. These services include
wealth, international cards, management products, wholesale banking and many others. Barclays
have repositioned their brand towards a move that would be aimed for making clear differences
in the market in terms of using financial services (Mogaji, Czarnecka and Danbury 2018). With
the increase of competition in the international market, the company has decided of repositioning
of their brand that would help them in taking several advantages of the world and the demands of
the customers for creation of changes.
Brick and Mortar Location – Based on defining the promotion mix techniques offered
by Barclays, some of the common aspects that would be considered are:
Services – The Barclays Bank offers the services based on Internet Banking, ATM
services and other facilities based on serving their customers from all over their world. The other

PROMOTIONAL TACTICS OF BARCLAYS BANK5
services being offered by the bank are: loans, mortgages, investments and savings, insurances
and international banking (Ngugi 2017). The bank also offers service to students such as opening
students account, share trading, approving their educational loans and various other kind of
financial services.
Waiting Times – Technological advancements brought in within Barclays have led to
shorter wait times for their customers. The bank makes use of 24/7 help-line facility to serve
their customers during any kind of financial services and transactions (Karoney, Kosgei and
Nyongesa 2019). The facility of ATMs brought in by Barclays have helped them in covering
more number of customers from all across the globe by leading them in improved customer
service facilities, mobile and internet banking and many others.
CRM – Barclays has been in the process of deploying their Salesforce-based Customer
Relationship Management. They have mainly started their rollout process of the implementation
of CRM for helping relationship managers to have an access between their various systems.
Barclays have mainly worked with the team of Success Cloud Envision situated at Salesforce for
mapping out the process of rolling out their cloud-based CRM product. This product would be
further be named as a human-centered and design-led approach.
2.2 Public Relations
Public Relations (PR) is defined as the discipline, which would look after the discipline
being followed at Barclays Bank based on their reputation. This is also defined about the
development and maintaining of long-term goodwill with various stakeholders and audiences.
The culture of transformation into their banking sector was not considered enough to change the
perception of people (Nandonde and Sachs 2017). Hence, the development of a new PR