Page 11: Media
In addition, the effectiveness of various types of local media in attracting sales into the branches is being evaluated. It is important to pilot different media in this way because a national advertising campaign is very expensive and can run into millions of pounds. This will also help Yorkshire Building Society maximise the effectiveness of its expenditure on advertising and marketing in the future.
There are also a variety of marketing methods being trialled. In areas with an emphasis on mortgages, for example, the marketing tools being used include local advertising using billboards and posters, as well as the local press, radio and the sides of buses and taxis. The principal message conveyed in these adverts focuses on the brand and on mortgages.
In contrast, in areas where the emphasis is on savings, direct mailing is the main marketing tool and the message focuses on the brand and on savings. The mailings have been categorised into two groups:
- mailing existing customers, focusing on key products from the Yorkshire Building Society savings range
- potential new customers are targeted based on a profile of existing customers who have already taken up the Yorkshire Building Society savings accounts.
The advertising and marketing strategies have been carefully designed to reach particular audiences in particular areas. For example, in areas where there are high percentages of "better off borrowers" the rears of buses have been used to advertise, as most of the target population will be car drivers.