Case 3- Lloyds Banking Group: Corporate events as a sales tool

Case Summary: Lloyds Banking Group is the largest bank of the UK with over 30 million
customers. They are trying to demonstrate that they are still open for business and they are
dedicated to provide the long term innovative solutions to their customers. They are putting
some new structure in their regional teams. Now, their aim is to make their existing and
potential customers to understand those new structure.
For this they organized 14 events in 14 iconic place throughout the UK. Where they invited CEO
and financial directors of 2358 business firms, key influencers and media people. They
introduced their regional team in those events and showed the business portfolio to them.
They got a lot of positive feedback after each events. 56 percent of the attendance took some
action. They generated 5 million pound income as a result of those events. They are expecting
more income from existing and potential customers. Moreover, the high profile events create a
positive impact on brand image and positioning. In the next year they got 17 prestigious awards
for their operational excellence.
Question-1: How do you think the regional events contributed to the accounts signed by the
bank?
Answer: A main aim of Lloyds Banking Group is to ensure that its existing customers and its
potential customers understand the new structure that the group has put in place with regards
to its regional teams.
There are some reasons by which the regional events can be contributed to the accounts signed
by the bank:

 Meeting with local peers.

 Meeting with local peers: The regional teams, the events also enable corporate
customers to meet their local peers to open a new business.
 Collecting data: Lloyds Banking Group collected data and intended to help consolidate
the relationships between the bank and the corporate customers.
 Direct marketing: Direct marketing information was emailed to each attendee, invitee
and profiled prospect region.
  Q & A feedback: The regional teams started to collect data via summary of economic
prediction, local pictures, case studies, Q & A feedback and contact details for the
research.
The regional director also contacted the prospects after the regional events. Lloyds Banking
Group captured information from the attendee of the campaign with following the quantitative
research.
Question-2: How do you think the regional events influenced the consolidation or extension of
business between existing corporate customers and the bank?
Answer: The regional events influenced the consolidation of business between existing
corporate customers and bank in many extant. Which are as follows:

 The regional events make the customers to feel that they are special customers of
LIoyds and LIoyds are trying to build a good relationship with them. So, they become
satisfied with LIoyds. When they become satisfied, they will be interested to purchase
more service from LIoyds.
 Some customers may think that LIoyds is not committed to give better service anymore.
Because LIoyds is now the biggest banking group in UK. This event helps to the
customers to forget those misconception. So, they will start to purchase more service
from LIoyds.
 LIoyds analyzed each customer's feedback and observed their attitude how they take
the invitation, how they accept this event, what they wanted to know in the event. By
analyzing those data, now the bank know which customers want which service. So, they
can easily send those offers, which they wanted to get. In this way, LIoyds will be able to
acquire more customers.
 LIoyds has introduced their regional team in their events to their customers. Now it will
become easy for the regional team to satisfy their customers. Because now they have
enough database about their customers. So they can offer that products which
individual customers wanted to get. So customers will consolidate the business with
LIoyds.
 As LIoyds organized those high profile events at the iconic place in UK, this created a
positive impression on brand awareness and positioning. So, the customers become
interested to increase their businesses with LIoyds.
 Customers able to understand the new structure and what long term innovative ideas
LIoyds are bringing in the market. Which motivate customers to expand the relationship
with LIoyds.

Question 3: Evaluate if and how this campaign could have influenced the consumer sector.
Answer: This campaign created a positive impact on consumer’s mind and influenced the
consumer section various ways. Which are as follows:

 This campaign strengthen the relationship between the bank and the customers.
Existing customers informed about the product portfolio of the bank. By satisfying with
the bank's service they may refer their contacts to this bank. Which helps the bank to
acquire more potential customers as customer.

 This campaign helped the customers to understand how much cordial the bank is, to
give a better service to their customers. Customers saw how the bank is trying to
continue business with their customers in spite of recession. Which is not only by giving
loans but also working as a trusted advisor.

 The 14 events have held in the 14 iconic locations throughout the UK and all events
were very high profile. Which had a positive impact on the bank's brand image and
positioning.

 Besides CEO and financial directors of any particular organization, key influencers such
as lawyers, accountants and brokers also invited to events and they had learnt about
the bank's portfolio. So, they may suggest their clients to this bank. Moreover the
positive report of invited media about this bank had created a positive impression
toward the bank. So that, the bank's prospects will be interested to come to this bank.

 The regional teams were introduced in each events. So, clients can easily identity to
which employees of the bank they should go to make a business.

 Lloyds Bank Group immediately got some feedback from their customers and generated
5 million pound income as a result of this event.