Goldfish, the Centrica-owned online bank, is looking for a direct marketing agency to promote its personal loans products. The account is understood to be worth more than &£1m.
DP&A is Goldfish’s lead DM agency, but Goldfish wants to broaden its roster of DM agencies to look after a wider range of products. DP&A is not pitching for the personal loans business.
More than ten agencies are involved in the initial written pitch and Goldfish expects to appoint an agency by the end of March.
At the end of 2001, Goldfish gained its banking licence and since then it has been increasing its product range beyond credit cards. Last June, Goldfish launched its first savings products and this was followed by a loans product in the third quarter of last year. Most recently, it has added three investment products to its portfolio through a partnership with investment management company Gartmore.
A company spokesman says, “Personal loans are one of our priorities.” By the end of 2002, Goldfish had sold 1,800 personal loans with total outstanding balances of &£14m.
In January, its above-the-line agency TBWA/London launched a television and cinema campaign to promote its loan products for the first time (MW January 9). Media planning and buying was managed by Manning Gottlieb OMD.