Marketing Report: Promotional Tactics of Barclays Bank Analysis

This report provides a detailed analysis of the promotional tactics employed by Barclays Bank. It begins with an overview of the bank's background, including its history and core business sectors. The report then delves into Barclays' promotional mix, examining advertising strategies, public relations efforts, sales promotions, personal selling techniques, direct marketing campaigns, internet marketing initiatives, and sponsorship activities. Furthermore, the report explores the application of two key marketing models: the AIDA model and the communication model, evaluating their effectiveness in the context of Barclays' marketing strategies. The report covers various aspects of Barclays’ marketing campaigns and evaluates their application in the real world. The report also contains figures and diagrams to support the claims.

Running head: PROMOTIONAL TACTICS OF BARCLAYS BANK
Promotional Tactics of Barclays Bank
Name of the Student
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1PROMOTIONAL TACTICS OF BARCLAYS BANK
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

2PROMOTIONAL TACTICS OF BARCLAYS BANK
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.

3PROMOTIONAL TACTICS OF BARCLAYS BANK
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.

4PROMOTIONAL TACTICS OF BARCLAYS BANK
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

5PROMOTIONAL TACTICS OF BARCLAYS BANK
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

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campaign have been considered to be appropriate for engaging new content and draw the
attention of audiences towards the services being offered by the bank.
With the implementation of a PR campaign, the message that was been propagated by
Barclays Bank was considered as simple. They would bring together the schools, businesses and
government together for working over the removal of barriers that are being faced by their
customers. People who were influenced from the PR strategies implemented by Barclays had
confirmed the fact that the banking sector was socially responsible for making a wide
contribution towards the community. The Barclays Bank primarily hold their critical information
in electronic forms that are in relation to their clients, employees, suppliers and various third-
parties (Morris 2016). Third party media channels that employ the usage of data drawn from
Barclays to aggregate together based on the display of major company trends.
2.3 Sales Promotion
Sales promotion being used at Barclays is mainly been considered for stimulating the
purchase rate of customers and helping them to remain engaged within their banking domain.
Barclays Bank makes use of various kind of advertising and communication methods based on
reaching different segments of customers through radio, newspapers, television channels, social
media channels and many others (Maina and Afande 2015). The bank has also employed sales
promotions for increasing the product sales such as personal loans, credit cards and mortgages.

7PROMOTIONAL TACTICS OF BARCLAYS BANK
(Figure 1: The ‘Build Your Bank’ Initiative by Barclays Bank)
(Source: Home.barclays 2020)
The above figure shows a campaigning advertisement initiated by Barclays. This is a
particular strategy used by the bank to engage with customers. Another aspect in which sales
promotions is being used by Barclays Bank is through the use of advertising strategies and
outsource marketing. This employs the strategies for using posters at public places and providing
engaging content for audience to view and reach to the bank to understand their services properly
(Maina 2017). However, within the company, Barclays supports corporate wear for their
employees and staff based on standardizing and enhancing the image of the company. On a
regular basis, Barclays regularly advertises their offered services or products in the print or
electronic media, which are being distributed among the audience for drawing their attention.

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(Figure 2: A Billboard by Barclays Bank)
(Source: Home.barclays 2020)
The ultimate message for Barclays Bank is to propagate their business ideas while
engaging and communicating with people based on including maximum audiences within their
platform. From the use of strategy based on ‘away from store’, it can be understood and
discussed that the implication of promotion strategies would be highly effective in establishing
communication with clients. This would in turn lead to increase in client base within the various
branches of the bank located globally.
2.4 Personal Selling
Citizenship is one of the core value, which is enforced by Barclays Bank for living up to
the purpose and values set by the banking sector. Management of customers in engaging them
with the culture of the bank is the primary responsibility of the staff members who work for the
bank. Thus, the staff members within the company are primarily dedicated over following certain
specific strategies, which would help Barclay to lead themselves in the highly competitive
market.

9PROMOTIONAL TACTICS OF BARCLAYS BANK
Customer experience is one particular segment through which the bank can develop
better relationship with their customers. Hence, the bank provides trainings to their staff based on
developing skills on a personal level, which would help them to develop a friendly relationship
with customers.
The employees working at Barclays Bank have the maximum potential for attracting
customers towards the bank. The staff employed within the bank have the responsibility to direct
their family members and friends based on offering referral incentives in the form of cash
rewards and lower fees (Sadek, Tantawi and Redding 2016). The employees could also engage
with customers and ask them to purchase a credit card from them. Offering such kind of services
would help in developing a better relationship with the bank.
2.5 Direct Marketing
Direct marketing is a form of marketing strategy that are used by companies for engaging
with customers in an interactive manner. Barclays Bank makes use of personal data, which
includes the recent transactions and use of customer email address based on sending vital
information. A wide range of information could be sent to customers based on different range of
services or products that would be thought to be intriguing for customers (Radda et al. 2015).
The customers on which the advertisement and marketing strategies would be aimed would have
the freedom whether they would be interested in receiving such information in the future or
might unsubscribe them from the platform.
Barclays Bank primarily sends information through text messages or email notifications.
In the recent times, the facility of push notifications are supported in smartphones, which further
help the banking sector to continuously send updates regarding the latest updates regarding

10PROMOTIONAL TACTICS OF BARCLAYS BANK
services and products that would be delivered through their platform. Data in relation to
customers that are stored in the database systems helps in ensuring that the sent messages are
mostly relevant for the intended customers. The company also emphasizes for the use of sending
latest offers through e-mail marketing strategy (Muhanji and Ngari 2015). Other kind of latest
offers are also supported by Barclays for their customers while also calling them for making
them understand regarding their objectives and values, which would be provided to them when
they would engage with the banking services.
2.6 Internet Marketing
Internet or Digital Marketing is one component within marketing strategies that primarily
makes use of online and internet supported digital technologies such as desktop or laptop
computers, smartphones and other forms of platforms and digital media for the purpose of
promoting their services and products to customers. On a certain report from Barclays, it has
been seen that there are 42 million people residing in the UK who mostly spend an average of 1
hour and 47 minutes on a single day over using social media and internet based platforms
(Home.barclays 2020).

11PROMOTIONAL TACTICS OF BARCLAYS BANK
(Figure 3: The Front screen of Barclays Bank)
(Source: Home.barclays 2020)
The above figure displays the front screen of Barclays Bank. The website of the company
is colorful and easy navigable. The buttons and options provided within the website of the
company can be easily accessible and gives a premier look and feel during accessing each of the
pages within the website.