The real over 50's market
The potential value of a customer walking into a bank is hard to identify or measure. Lloyds TSB recognised that they, like other retail banks, were not capitalising on the over 50’s audience, who hold an enormous potential value – largely untapped. This is primarily due to the customer engagement process in retail banking, where the branch staff are from a different generation and are therefore unable to engage the audience properly – so they go elsewhere. Lloyds TSB were keen to make this project very different from the usual, rather dry, bank training materials.
DVA suggested a radio style documentary presented by Simon Bates, himself of that age group. The content is a mixture of post war history and facts about the spending habits and power of the over 50s, interspersed with music and archive material (such as the moon landing, the famous Martin Luther King speech and so on) from the 50s and 60s. The final programme is 20 minutes long, perfect for listening to in the car or at home. It was delivered on audio CD in a custom pack incorporating a booklet with supporting information about the bank’s products relevant
to the over 50s. Our client said “We’ve just rolled it out and it’s been a massive success so far. Our people are already engaging with over fifties customers far more actively and we are already seeing some sales brokered in that area.”
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