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How Barclays embraced the ‘Moneyverse’ to achieve record ROI.

Committed to addressing the nation’s problematic connection with finances, Barclays aimed to reshape its approach to financial control, leading to remarkable media return on investment (ROI) and securing a dominant position in the market for new mortgages.

How Barclays embraced the 'Moneyverse' to achieve record ROI

As a country, the UK often experiences difficulties when it comes to managing money. Approximately 12.3 million adults in the UK lack confidence in handling their finances, and a substantial 80% have experienced sleepless nights due to money-related concerns.

 

Armed with this understanding, Barclays, in collaboration with creative agency BBH, sought to create a lasting solution to aid families and the targeted age group of 18- to 30-year-olds in reconstructing their problematic relationship with money. The opportunity presented by the pandemic allowed the bank to reevaluate its existing ‘Make Money Work For You’ initiative and to formulate a message that illustrated the potential of genuine financial control. This resulted in the conception of ‘The Moneyverse,’ a campaign designed to portray a “magical vision” of the advantages that people could anticipate from their banking experiences.

 

The advertisements featured narratives highlighting how three individuals harnessed the potential of money to their advantage, transforming the benefits of the products into emotionally resonant messages. In an unprecedented move, Barclays ventured into producing longer-form branded content, showcasing real people who experienced positive transformations in their financial relationships.

 

After the campaign’s launch, the introduction of Barclays into consumers’ consideration shifted from the fourth to the top position, particularly noteworthy among the 18- to 30-year-old demographic, reaching a remarkable peak of 50% in the third quarter of 2021.

 

Outperforming its competitors, the bank secured the leading spot in overall market share for new mortgages and shared the top position for first-time homebuyers. Additionally, the release of the Moneyverse campaign corresponded to an increase in the number of mortgages, as indicated by econometric analysis.

 

Of significant importance, the brand achieved unprecedented levels of media profit and media ROI, surpassing rivals in both first-time mortgages and overall mortgages. This achievement led to Barclays receiving the Marketing Week Award for Financial Services.

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