A Comprehensive Analysis of Barclays Bank's Promotional Marketing Mix

This report provides a detailed analysis of Barclays Bank's promotional marketing mix. It begins with an introduction and background on the company, including its global presence, values, and financial performance. The core of the report examines the various elements of Barclays' promotional mix, including advertising across multiple platforms (website, YouTube), public relations efforts, sales promotions like loyalty schemes, personal selling strategies, direct marketing techniques (email), internet marketing (social media and app), and sponsorship activities. The report also discusses the AIDA model and the communication process within the context of Barclays' marketing. Furthermore, the report touches upon Porter's strategies (cost leadership, differentiation, cost focus, differentiation cost) employed by Barclays. The report provides examples of how Barclays utilizes each element of the promotional mix to reach its target audience and achieve its marketing objectives, offering insights into the bank's comprehensive approach to brand promotion and customer engagement.

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Table of contain
Introduction……………………………………………………………..3
Back around……………………………………………………………..3
Promotional mix……………………………………………………….3
Advertising……………………………………………………………….4
Public Relations………………………………………………………..5
Sales promotions……………………………………………………...5
Personal selling………………………………………………………….7
Direct marketing………………………………………………….......9
Internet marketing……………………………………………………12
Sponsorship………………………………………………………………13
AIDA………………………………………………………………………....15
The communication process………………………………………16
Reference list ………………………………………………………….…17
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Introduction
The main aim of the assignment is to supply a range of researches that have been taken in order
to illustrate marketing knowledge and skills on the promotional marketing mix techniques that
Barclays company applies.
1.1 Background/ overview of Company
Barclays is a British bank operating internationally with broaden horizons by different type of of clients,
consumers, and topography. With more than 300 years experiences in banking, Barclays have extensive
existence in more than 50 countries counting Europe, Asia, America and Africa and have more the 48
million consumers. Barclays purpose and value are ‘’creating opportunities to rise’’ for their clients,
customers, colleagues and society. The aim of the company is to generate long term sustainable returns
for Barclays shareholders. To satisfy their customers and cover their needs, the company provide wide
range of products and services such as: privet banking, wealth advisory, investment services, investment
and credit solutions. The company operate by two divisions Barclays UK and Barclays International.
(Barclays annual report 2019).
Barclays has approved with their results that their business strategy is working and that is in much
stronger position that a few years ago to face their challenges (Barclays,2019). Their group have been
transformed and that help them to improve their cost efficiency and to secure their capital position,
have been published by company’s chair main Nigel Higgins on the 2019 company’s report. The board of
directors have been changed and the new members of the companies are Dawn Fitzpatrick, Mohamed
El-Erian and Brian Glivary. According to Barclays Annual Report, the group profit before tax in 2017 was
3.5bn, in 2018 the company had same profit of 3.5bn, and 2019 was 4.4bn before tax and including
litigation and conduct. The earning per share of the company for 2018 was 9.4p and in 2019 13.4p.
According to Statista, Barclays bank have 48,241 employees in the United Kingdom. For the future, the
company is planning to focus on growth in areas where they have a significant customer base and
believe they can differentiate Barclays over the next three to five years. In particular, growth in fee-
based, technology-led, annuity businesses with lower capital intensity will further diversify the
organisation, without limiting their commitment to the businesses they already have. The company will
increase speed in their digital journey and maintain to play a leading role to obtain innovation and
fetching it to life, and make it available, for millions of customers and clients (Barclays, 2019).
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2.0 Promotional Mix and Activity of Barclays Company
Promotional activities are essential for any business to ensure sustainable growth and profit. As a
service-oriented industry Barclays bank is no exception. Barclays bank is concentrated on their
brand image and promotional tools have been be used to attract customers and to increase
revenue. The company is using the 4p of marketing mix strategy ( Place, Product, Price,
Promotions).
Place: Over the years, Barclays has been expanding in more than 50 countries. The company has
4.750 branches according to Reuters site article and 3,000 branches are outside of UK country.
Usually the company’s branches in the United Kingdom are placed on the main streets where
customers can easily attend.
https://www.google.co.uk/search?source=hp&ei=nbBfXueAMMukaZOsn5gN&q=barclays+farringdon&oq=barclays+farr&gs_l=psy-ab.1.0.0l2j0i22i30l8.1267.4531..6485...0.0..0.303.2316.5j2j6j1......0....1..gws-
wiz.....6..0i362i308i154i357j0i131j0i10.sAOifmq0amg
The company have been the first bank providing to their customer ATM machines so even if the
branch is close customers can still carry out cash when they want. Company’s place can also be
their online banking app where can be used from every place any time and give to customer the
options to register for a new credit card, check their balance, pay bills transfer money between
accounts without to attend Barclays branches.
https://www.barclays.co.uk/ways-to-bank/online-banking/mobile-online-banking/
Product: To cover customer financial expectations for individuals, small or medium businesses
or corporate institutions, Barclays is offering a wide range of products such as mortgage product,
privet banking, wealth advisory, investment services, and credit solutions.
One of Barclays credit card that provide their customer 0% of interest
when they purchase up to 20 months after they open their account.
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Personal banking it is a highly focused and collaborative approach that
provide numerus and different services from Private Banker, who will
work closely and creatively with the customer to protect and build their
wealth.
https://privatebank.barclays.com/?campaign=Google_Private_Banking_-_Brand_Exact&chnnl=PSB&&click?lid=43700046228623216&ds_s_kwgid=58700005232302648&gclid=EAIaIQobChMIzdi94P-
A6AIVDLTtCh3leQwZEAAYASAAEgJnovD_BwE&gclsrc=aw.ds
Price: Barclays price strategy is depending on what their competitors are offering and the demand of the
services that the customer is looking. The company is offering various and flexible payments to their
customers with 25% discount on its mobile broadband scheme, interest free overdrafts, monthly fee
waiver and discounted rates for loans.
Promotion: Some of the ways that Barclays is promoting their brand by advertising their website,
newspapers, television channels, social media platforms, direct emails.
Barclays is using Facebook to stay connected with their
customers an answer any queries they might have and
answer them directly.
https://www.barclays.co.uk/important-information/social-media-support/
2.1 Advertising
The company is advertising online though their website at www.barclays.co.uk. For example,
when a consumer is using their web site, using the Ask a Question feature on the site are served
graphic and classified-style advertising alongside answers to their queries. The company’s message is
that it is offering product and services based consumer needs. This targeted marketing is aimed at
increasing cross-promotion and growing online sales of Barclays' products.
Barclays also develop a digital eagle programme and have trained more than 8,000 staff to assist
customers with digital technology.
This video shows that Barclay company is carrying
about their customers and not only to sell their
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product.
https://www.youtube.com/watch?v=h6NCzS8__V4&feature=youtu.be
This video is advertising Barclays app and shows how to
reset your pin if you cannot remember it. The company
wants to show to their consumers that they can always
have asses to their account from everywhere and have
control in to their finance. They are targeting all kind of
customers who want to have access online banking and
even if they can not remember their pin they can help
them in no time.
https://www.youtube.com/watch?v=-b200enB7lM
This video is showing that Barclays is offering
to their customers, help to get in to the
property ladder and promote their product
Family Springboard Mortgage. On the
Youtube channel showing that they have 1,449
views and 13.4k subscribers. The audience are
the consumers who are looking to get a
mortgage and Barclays can offer them a
mortgage that are suitable for them.
https://www.youtube.com/watch?v=Sy-_syXl5yA
2.2 Public Relations
Barclays review on indeed site most of them state that is it a
good place to work for with diversity and opportunity to grow
https://www.indeed.co.uk/cmp/Barclays/reviews
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https://www.glassdoor.co.uk/Reviews/Barclays-Reviews-E3456.htm
According to Statista Barclays is 71% ranked by current
account customer satisfaction in July 2019.
https://www.statista.com/statistics/386749/uk-leading-banks-by-customer-satisfaction/
“Banks have broad environmental and social impact – through our own
operational footprint, as well as through the ways that we mobilize capital,
advise clients and develop products,” said Barclays’ Global Head of
Sustainability & Citizenship, Elsa Palanza. Barclays will direct efforts signing
greater renewable energy volumes to market via power purchase
agreements (PPAs) with energy providers. These efforts will specifically target
the UK and USA, where over 70% of the company’s current energy usage is
located.
http://www.climateaction.org/news/barclays-commits-to-100-renewable-energy-by-2030
2.3 Sales Promotion
Barclays is using loyalty scheme system for their
customers. To get this account costumer have to link his
current account to Barclays blue rewards. There is a
monthly fee for the membership of £4, and the customer
have to ad every month £800.00. In returns Blue rewards
is giving back £7. This scheme is a saving account in
online banking and when the customer is shopping through the Barclays App, the scheme
rewarding with cash to the customer.
www.barclays.co.uk
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Barclays is offering to their customers solutions to their
financial worries by offering 0% interest for three months
after they open their Barclays account.
With Barclays
reward card, customers can get cash back 0.25% on
their daily spending.
2.4 Personal Selling
Members of the company are carrying the Purpose, Values and behaviours od Barclay’s. They represent the set of
standards which governs the actions of the people who work for the bank and against which the performance of
everyone in Barclay’s will be assessed and rewarded. This means that every staff who demonstrate the proper
Purpose, Values and Behaviour of Barclay’s are providing excellence in their service and provide customers’
satisfaction. In that way, the employee themselves are representing their company name in which is considered as
a way of promoting the company towards their clients (Barclays,2017).
https://home.barclays/content/dam/home-barclays/documents/citizenship/our-reporting-and-policy-positions/policy-
positions/The-Barclays-Way.pdf
2.5 Direct Marketing
Often Barclays is promoting their product and services by emailing their customers and provide
information on what is new in their company or promoting an existing product, for example if there is an
increase of interest or decrease or to provide the customer with bank statements.
Barclays bank email their customers about events and how can they save
money by having fun.
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Barclays is promoting their insurance product through email, so the customer
have already all the information about the product and on frond of their screen
and can open and read any time.
Barclays also email their customer about bank statement ready and keep on
track with their expenses.
2.6 Internet Marketing
Barclays is using Facebook to stay in touch with their customers and to
update them with their product and how can use them. Customers can
give them feed back by like their post, leave their comments or share their
post.
Barclays is using Twitter to push podcasts, public video interviews,
company updates and sponsorships to customers.
Barclays have created their own app that give to the customer to take the
control of their money. With their app the customer can have access to
their account and do many activities such as transferring money from one
account to another or to have all their banking account in one.
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2.7 Sponsorship
The company also is aware about environmental issue and have committed to the green bonds
sector and invest 1bn in 2015. As well the company is helping energy businesses with their
banking, treasury and financing need. In 2018 the company has reduced their emission by 38%
exceeding their 30% carbon reduction through implementing their energy efficient program
(Barclays 2018). Also, the company for over 10 years, has provided specialist corporate banking
support to not-for-profit and international development organisations, government bodies and
registered charities (Barclays,2018 ).
Brick and Mortal location
This Barclays branch is located in Bletchley town centre.
Usually around 11:00 to 12:00 was no que with customers, and the staff was very friendly, patient
and helpful with customer enquiries.
The bank inside advertising re-mortgages service and is targeting clients who
wants to do re-mortgages in their home loan.
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Barclays is advertising their business account products for those who have
ambitions and wants to open a business account and make money work for
them.
In the wall is a portrait of an independent service quality survey showing results
of customer service from persona service account.
Porter’s strategy
https://learnarul.uk/course/view.php?id=1371
1.Cost Leadership: Cost leadership strategy allow Barclays to target the middle-class customers
because for them it is important a product or service in low price and this strategy can accomplish
consumer needs. encouraging consumption and achieving sales targets by emphasizing over
product’s affordability and accessibility.
2.Differentiation: Barclays is using cost leadership and differentiation to achieve growth
objectives. the company offers a wide variety of product and services to satisfy needs of
their customers. Using innovation as a tool to offer different and improved service that may
delight the consumers and enhance their preference of Barclays over other brands
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3.Cost Focus: By concentrating on product qualities, Barclays review their brand strategies and
generate constant changes in the product designing and packaging to satisfy the customers’
psychological expectations and maximize value for money.
4.Differentiation Cost: Barclays is using differentiation Cost to maximize their profit. For example, when
they provide great products at lower price but great quality that meet customer expectation and
combine it with innovation tools to be always on track for both business and customer this is a great
competitive advantage for their brand.
Barclays CRM in 2011 adopted Microsoft system wich give the possibility to the bank to be
proactive in sales and customer service (OmniVue, 2011). This CRM system aided the bank to improve
customer service and satisfaction, decrease operating costs and expand productivity with the help of
integration. Lately, Barclays applied Free-Speech from Nuance Communications, an innovative speaker
verification solution. This voice biometrics technology, is checking the client’s voice compared to a voice
copied from previous enrolment with Barclays. This solution allows the bank to deliver same experience
to the customer in the same way as if they were physically visiting the bank (Nuance, 2014). The system
also assisted the bank to minimise customer’s complaints, improve security, and satisfaction when they
call the bank.
Barclays Segmentation Targeting Position is created to attract specific customers. The company segment
the financial market of demographic and psychographic adjustable like age, gender, occupation. To
satisfy the needs of individual or corporate customers, Barclays use different targeting strategies. The
company has positioned its self on the basis of kind of product/service it is offering to their customers,
with a large number of strategic partnership and subsidiaries (Hitesh. B 2018).
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Task2
1.0 AIDA Definition Model: Aida can be defined as an advertisement model which stands for attention,
interest, desire and action. Combined with e-commerce and digital marketing assisting companies in
creating awareness amongst the crowds and to promote their brand image (Timothy
Gaplin,2018).
A - Awareness
I - Interest
D - Desire
A. – Action
1.1 Application of the model
Awareness: Barclays bank applies Aida model to spread awareness usually though advertising on TV,
social media, newspapers to attract customer attention by announcing their product and services.
Interest : Create an interest to the customer to find out more about the product and end up with it. For
example, one of the advertisement that they do about the tax free (ISA) account, that help individuals to
manage their finance through their life with unexpected situations and in return there is no tax to pay
back.
https://www.youtube.com/watch?v=ChrHXIkH2Uc
Desire: The company is using strategic advertisement with meaning subject for its segment customers to
attract. For example, the advertisement about the (ISA) account transfer the meaning to individuals with
families and many responsibilities coming ahead, and Barclays provide them a plan to solve their worries
and to advise them that they can always count on them.
Action: After attracting customer interest and make them think that this is what they need and it will be
beneficial and helpful for them, Barclays always leave a message in their advertisement to the customer
to visit their branch. When the customer will visit their branch then they will end up with the product
they desire and it is suitable for them.
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1.3Evaluation of effectiveness
Barclays ISA account have 32,997 views in Youtube channel 8, March 2013 and 13.5K subscribers.
According to Statista Barclays satisfy their customers who use current account services provided by
them was ranked at 71 percent in July 2019. Barclays Bank position was behind the competition of
smaller challenger banks, such as Metro Bank or Monzo Bank. In the first quarter of 2019, Barclays Bank
suffer a loss of 22.2 thousand accounts, and gained 9.5 thousand, with customers using the "current
account switch service" offered by Payments Council, which made changing banks easier, to finalize
their decision. To simplify communication with its clients, in addition to bank branches contact
possibilities, the bank was reaching out to customers on social media. As of May 2019, it was ranked first
among the largest UK banks with the biggest following on Facebook, with 594.5 thousand followers. This
shows that Barclays have build their reputation as a well served bank by providing great products based
on customer needs. The reason of that is their long term experiences in what they do and their business
strategy that help them achieve great results. Based on Aida advertisement, Barclays has used all the
package of advertisement such as digital marketing to attract as much as possible all the gender, ages
and status , students or businesses . The company’s goal is to make aware every individual that might
use online platforms or watching TV or Yotube and is looking to open an account or buy an insurance or
switch from a bank to another.
Statistics shows that Barclays bank on 2017 was earned 9,878 ( million Pound) . This is showing that the
bank was doing well, using their strategic plan and advertisement and have approached more
individuals and that’s mean more profit for them.
https://www.statista.com/statistics/294742/barclays-investment-banking-income/
Based on company’s KPI 2018,Barclays is doing well for their
shareholders. The company have 8.5% on group return tangible
equity, 13.2 % CET1, 77% cost income ratio 13,9%bn operating
expenses. This measurement indicate company’s return based
on their shareholders. This is showing that Barclays have the
ability to be profitable when they apply their management
strategies in successfully way they are having great results for
their shareholders. Comparing company’s results with the
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annual report of 2017, the operating cost is basically lower than 2018. The group CET1 it is still same
target 13% but in 2018 was 13.2% and 2017 13.3%.
2.0 Model 2 Communication model
2.1 Definition of model
As Kotler defined, integrated marketing communications (IMC) is a strategic approach to the planned
management of an organisation’s communications. This strategy involves organisations to synchronise
their various strategies ,sources and messages so that they engage their target audiences coherently
and meaningfully. The main persistence is to grow a relationship with audiences that are of common
value, a perception of marketing communications planning that identifies the additional value of a
wide-ranging plan. Such a plan evaluates the strategic roles of a variety of marketing communications
disciplines – for example, general advertising, direct response, sales promotion and public relations –
and combines these disciplines to provide clarity, consistency and maximum impact through the
seamless integration of messages(Kotler,2019).
(Anglia Ruskin VLE,2020)
2.2 Application of the model. To promote the company and its products, Barclays group uses video
advertisements, banners advertisements and the concept of e-marketing to reach their consumers
wherever they may be are lying on the couch and watching TV or outside and shopping. The bank has
developed attractive websites for all of its brands and promote their product and services .
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https://www.youtube.com/watch?v=5xrJD7h4Zp4
Barclays bank with this advertisement is trying to approach customers who are looking to get a
mortgage, and the message which they are sending is to show and aware customers that their bank
it here to help with the best deal for them and to fulfil their needs. The communication message in
this advertisement it is very clear and strategic as they are targeting a specific group of individuals.
After that the direct response which they might get is their branches customers who wants to get a
mortgage with them and the feedback after they have tried the Barclays services might be positive
or negative based on customer experiences.
2.2 Evaluation of effectiveness
Based on company’s annual report 2019, Barclays bank is engaging their customers more
with the help of social media. Comparing from 2017 to 2019, the NPS is showing how
much percentages are customers willing to recommend Barclays to others. This mean that
the company it is communicating effectively with their target individuals of group and
transfer heir message effectively.
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