Lloyds TSB

Challenge

Lloyds TSB had a passionate vision; they wanted to maximise income from a key trend they’d identified in the market place. They wanted help to turn their commitment to innovation and meeting customer needs, into a tangible proposition for their customers.

Solution

We pulled together a cross-functional team across Lloyds TSB to work on the project. Initially we helped them capture existing knowledge - so they didn’t lose any valuable learning from the past - and crafted the overall customer objectives. With these bottomed out, we spoke to customers to derive the deepest of insights, which have been described as profoundly thought provoking by Lloyds TSB – even respondents called in to say how much they learnt about their own thinking!

These insights acted as a platform for the highly energetic and collaborative proposition development workshop. Participants described this as incredibly creative, providing a new perspective for their customer’s needs and for their own approach to proposition development.

Next we needed to further test and develop these ideas. And Lloyds TSB were keen to go further than using a standard focus group approach.

Our suggestion was to run co-creation groups, involving customers and key stakeholders from Lloyds TSB, working together as a team. Each 3 hour session re-examined the customer problem, and then looked at how the proposed solution could be developed to be more compelling. ‘It just made sense to work with customers – they know what problems we need to solve and we can work out how to solve them.’

Action

Customers found a strong resonance with the proposition and could easily identify a visual metaphor and hero message. Lloyds TSB is currently working to bring this unique new proposition to the market place.