Developing a Digital Marketing Strategy for Starling Bank

This report provides a comprehensive analysis of Starling Bank's digital marketing strategy. It begins with an overview of the digital marketing campaign, followed by a company overview, including its services and history. The report then delves into situational analysis, utilizing SWOT and PESTEL frameworks to assess internal strengths, weaknesses, external opportunities, and threats. It explores how Starling Bank links its digital business with its digital marketing plan, followed by the formulation of objectives, STP analysis, and the marketing mix. The report also covers budgeting, evaluation, and measurement methods for the campaign's performance. The analysis provides a thorough understanding of Starling Bank's approach to digital marketing within the competitive financial services landscape. The assignment utilizes Harvard referencing throughout and provides a detailed account of the campaign's various aspects.

DIGITAL MARKETING
STRATEGY

Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY ..................................................................................................................................4
Overview of digital marketing campaign ...................................................................................4
Overview of the company............................................................................................................4
Environmental Analysis .............................................................................................................5
Linking Digital Business with Digital marketing plan ...............................................................7
Formulating of objectives...........................................................................................................7
STP and marketing mix ..............................................................................................................7
Budgeting ....................................................................................................................................9
Evaluation and measurement - ....................................................................................................9
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Digital marketing plan is an systematic marketing plan in which marketing team of the
company advertise companies product and services through digital platform like social media,
SEO, Contain Writing etc. It helps of aware people about companies product and services and
target the audience according to their interest a keyword search by them.
Starling Bank is a digital challenger bank that is based on United Kingdom. Their main
focus on the current and business account practices and provide loan to them.
This report will cover the digital marketing campaign of the Starling Bank but the author
will ignore the COVID-19 related impact this whole campaign and discuss another aspect of
Digital marketing(Vollrath and Villegas., 2021)
MAIN BODY
Overview of digital marketing campaign
Digital marketing process is the wide term that helps to explain the steps taken by the
marketing term of the company to achieve their digital strategy objectives and goals. Company
might have the digital marketing process that conclude Schedule post, engage with their audience
as the part of their social media strategy.
Starling Bank marketing team will also follow the digital marketing process and their aim
of Digital marketing campaign is to attract customers to take their baking services and use their
banking application and to attract business to take loan from their bank (Abu-Dalbouh., 2020).
Before starting the digital marketing campaign Starling Bank have to follow the digital
marketing process in which they have to create their mission and vision, it will conclude
situational analysis, marketing mix strategy and campaign controlling techniques like feedback,
KPI etc.
Overview of the company
Starling Bank is a digital Challenger bank who provide business loan and financial
services to their people. This bank was funded in year 2014 by the Anne Boden in year 2016, and
they announce the largest Fintech Funding round do the year rising the £48 million. Starling
Bank started its beta in the partnership with the Trasferwise in the march 2017 and in year 2018
this bank launches its business account and in the same year they also announced to have
partnership with the post office.

Starling Bank use various online strategies like social media marketing to attract young
business man and people to open their account. Mobile application- Mobile application helps
customers to operate their bank account from their home and see their all transactions. Mobile
banking- Mobile banking work with the helps of internet and all the transactions and bills can be
pay thorough internet banking and other Digital strategies like – SEO, Blog Writing etc also
covered by digital marketing team of Starling Bank (Fadhilah and Nailufar., 2020)
Situational Analysis
Situational analysis are the methods and tools that helps to identify the internal and
external business factors. Tools like Pastel and Swot are mainly used to identify companies
growth, customers and external factors that affect both Positively and negativity.
SWOT
Strength
Starling Bank have collected around £230m founds from the founded by the Anne and
having huge reputation in the baking industry of the United Kingdom (Yankovets and
Vyshnevska., 2019).
Weakness
compare to other organizations in the industry Starling Bank has a higher attrition rate
and have to spend a lot more compare to its competitors on training and development of its
employees (Fierro, Cardona Arbelaez and Gavilanez., 2017).
Opportunities
New trends in the consumer behaviour can open up new market for the Starling Bank . It
provides a great opportunity for the organization to build new revenue streams and diversify into
new product categories too (Adam and et.al., 2020).
Threats
Starling Bank have the limited product so the other competitors are giving huge
Competition to the company and overtaking them by adding the new and better services to their
customers (Kolev and Kostadinova., 2020).
Environmental Analysis
PESTEL Analysis
Political

Political environment has huge impact on the Starling Bank, Bank's are run on the
Political and governmental guidelines and rule are strictly followed by the banks. Starling Bank
also have to follow rule and regulation of UK government (De Pelsmacker Van Tilburg and
Holthof., 2018). Brexit is impact the operations of the Starling Bank because they were having
their most of their customers accounts from the EU.
Economical
Economical Crises have huge impact on the baking industry and Small banks like
Starling Bank most impact from the economical crises. Banks make their profits thorough the
interest but during the crises they have to decrease their interest rates to support business (Ab
Rahim and et.al., 2020).
Social
Social factors matters a lot within the banking industry and it sis necessary for the
Starling Bank to provide past and secure banking services to their customers, so they attract more
new customers and grow their bank on the international level and achieve success within the
baking industry (Deiss and Henneberry., 2020).
Technological
Teleology has positive impact on the Starling Bank because they are digital operation g
their most of the operations and they provide digital services like, Mobile banking, Internet
baking etc. It is helping the Starling Bank to take competitive advantages within the UK market
(Sindhuri, Salomi and Swathi., 2017).
Environmental
Starling Bank and other banks within the baking sector do not impact on the environment but
still they can support the environment by convening their customers to give contribution towed
the Environmental issues (Fierro, Cardona Arbelaez and Gavilanez., 2017). It will help Starling
Bank to create their image within the market.
Legal
Starling Bank legally follow the governmental polices, and they get their banking licence from
the PRA (Yankovets and Vyshnevska., 2019).

Linking Digital Business with Digital marketing plan
Starling Bank run their most of the busies digital and their online baking side has smooth
process that makes easy for the customers to apply for the bank account and business loan and
other services. Their digital marketing campaign will helps to increase the traffic on their digital
tools, and they will able to make new customers.
Starling Bank will use digital marketing tools to run their marketing campaign like
Facebook, Twitter, You tube etc, so they can reach to maximum audience and achieve success
within the m digital marketing campaign. It will help them to attract customers and aware people
about their products and services. Marketing team of the Starling Bank are already using the
Facebook, Twitter, You tube to run various campaign, so they can use their knowledge to
advertise their financial services to the customers and attract them to take business loans and
open their account with the Starling Bank.
Formulating of objectives
`Digital marketing objectives relates with establishing of online presence of Starling bank
where it relates with getting more of traffic to the websites. It relates with increasing awareness
of company products and services whereby it is easy for customers to find and differentiate with
its competitors. This will helps in getting lead generation for company and which helps in
developing with the brand loyalty (Bjerke and Renger, 2017). The main objective lies with
increase in sales revenues and profitability of company. It is being important as it serves with
guide to activities and tasks of the company which ensures it in right directions. It includes
objectives such as
1. To increase the engagement of customers by increasing traffic to website by 15 % by mid
of 2021. To increase the market base by 30% by the end of 2023.
2. To increase with pay per click by 10% by the end of 2021.
3. Achieving with 10 % review online contribution by two years(Moore,2017).
STP and marketing mix
This step relates with STP And marketing mix of digital campaign being run be Starling
bank.

Segmentation- This will include age group between 26- 45 years both males and female with
medium income level who are seeking to have the loans and availing of various services of
company. (Lopatin, 2019)
Targeting- The targeting of digital campaign of company relates with getting more individuals
with business mind set who are being seeking for the loans to have capital for their start up
business. It also includes individual who need to avail with general banking services such as
opining of current and saving account, availing of credit card and debit card facilities and various
others.(Wuryandani, Ismoyowati and Nugrahini, 2018)
Positioning- This will be by means of effective marketing strategy which will leads with
attracting of customers to the business (Wuryandani, Ismoyowati, Nugrahini, 2018). It will be
based upon the vision and mission of company which will direct its activities and task and will
leads with effective positioning of business.
7 P's
Product – Its product and services includes various money transfers, debit and credit card
facilities, loans, internet banking, mobile banking, deposits, consultation and various others
which serves as effective means of digital campaign to attract the customers. (Kraak,2017)
Prices – This are being generally low as compared to its competitors as company follows
competitive pricing to stay and survive in the marketplace which is highly challenging in
business environment. (Verma and Singh, 2017)
Places- The business operations of the company are being located nearby to the city which is at
ease to customers to visit and availing of customer services which helps in building with trust
and loyalty of business operations. (Lim, Jee and De Run, 2020)
Promotion – Starling Bank implies with effective promotional strategy whereby it exploits with
opportunity of using social media platforms such as Instagram, Facebook, Twitter, You tube and
other which helps in easy reach, cost saving and serves with purpose of getting valuable insights
about the customers (Pistol and Bucea-Manea, 2017).
People – This includes hiring of employees for the campaign which are being highly talented,
skilled and qualified which will leads to facing of various challenging task and supporting
business dynamics. (Mintz,2020)

Process- The process will lead to handling large number of customer base where it leads with
deriving of satisfaction of customers by answering to their frequently asked question and other
which builds with positive brand image of company. (Rahman, Yuliati, Simanjuntak, 2019)
Physical evidence- This leads with company having its online websites which can be accessed
by customers according to their convenience. It includes head office of company with its various
branch office, stationery being used, its computer systems and various others. (Kazibudzki and
Trojanowski, 2020)
Budgeting
It refers to the process of creating and having a plan to spend the money to run the
campaign of Starling Bank . This helps in determining in advance whether the company have
sufficient money to do things which are likely to be done. This helps in determining the
effectiveness of company tasks and activities and serves with planning of Starling Bank . This is
simply balancing of expenses with the income level of company (Minculete and Olar, 2018).
The budget will consist of direct expenses for activities of marketing, brand related expenses,
researching expenses such as surveys through questionnaires, payment to employees involved in
promotion of campaign, travelling expenses, internet expenses and others of Starling Bank
Evaluation and measurement -
The evaluation and measurement will helps in determining quantifiable goals which help
in measuring and tracking of success of company. This can be through various key performance
indicators of campaign which will ensure it is being effective or not. The DM campaign will
work for the company as it will help in bringing awareness about the services of starling bank to
customers and how these are better than its competitors which will help in increasing sales
revenue and profitability margins of company. This will help in getting valuable insights about
what are customer needs and wants. The engagement, research will be judged by the means of
leads being generated, what is the cost per lead generated (Saura Lacárcel, Palos Sánchez and
Cerdá Suárez , 2017). This will be by means of cost per conversion where its shows with cost to
acquire leads that which converts paying clients. This could be ascertained with average time
required to get client converted for the business, retention rate, attrition rate , monthly traffic on
website , click through rate on pages of websites. It also includes measuring of campaign
effectiveness through traffic from searches that are organic in nature, keyword being used to

attract the customers, conversion rate per keyword and through various others mean which can
be used in evaluation of campaign strategies of Starling bank.