Nationwide to step up marketing land grab

Nationwide is to intensify marketing efforts over the coming weeks with activity stressing the difference between building societies and banks as it looks to exploit public disgust over the actions of bankers.

Nationwide

The building society will run press ads over the coming weeks spelling out the “reasons to come to us”, according to marketing director Andy McQueen. They will also seek to clear up the “confusion” over what the difference is between banks and buildings and societies, McQueen adds, adding “people think that they have no choice but they do and the biggest choice is Nationwide”.

Nationwide ran ads at the weekend inviting customers “who want an alternative” to their bank to “join the 15 million who have found one”. A TV campaign for savings alert service SavingsWatch is also currently running.

The building society and other financial services firms that stress their ethical or community approach to banking have seen account applications soar in the wake of the problems that left thousands of NatWest customers without their salaries and the interest-rate rigging scandal that led to the resignation of Barclays’ chief executive Bob Diamond. Nationwide enjoyed an 85%  week on week increase in the number of customers opening and transferring their main account online in the final week of June, a pattern repeated in the weeks since.

McQueen insists that media spend has not “massively” increased but concedes that the timing of its activity presents opportunities. “People are looking for alternatives so there are opportunities to attract those that are open to account switching”.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here