Table of Contents

Introduction ........................................................................................................................................... 2
Digital Strategy...................................................................................................................................... 4
Digital Marketing Communications Campaign ................................................................................. 11
Impact assessment ............................................................................................................................... 16
Conclusion ........................................................................................................................................... 16
Bibliography ........................................................................................................................................ 17
 Introduction
Barclays is a company operating within the financial industry. The bank operates in nearly all
regions of the world which earns it the status of a Universal bank. The bank operates in two
dimensions, Barclays U.K and Barclays’ international. In addition, Barclays Execution
Services supports the operability of the two branches. The company specializes in offering
several services displayed below:

Figure 1.0 services offered by Barclays (Barclays 2020)

Within 2021 Barclays had 83,500 employees. Moreover, the company is listed as a primary
asset on the London Stock exchange while it is listed as a secondary company in the New York
Stock Exchange. Barclays financial position as of 2021 is shown in the table below:
Financial Title Amount in Euros
Generated Revenue 21.766 Billion
Operational income 3.065 Billion
Net income 2.461 Billion
Total assets 1.349 Trillion
Total equity 66.882 Billion

Tab. 1.0. Barclays financial position as of FY 2020 (Barclays, 2020)

Barclay’s vision is to implement finance responsibly to aid people and business whilst being
transparent and demonstrating integrity. They aim to championing innovation and
sustainability by making use of new technologies enabling their customers to access various
opportunities.
Barclays has existed over many decades and has implemented several marketing strategies.
This includes innovation and adopting best market practices in terms of developing and
adopting marketing plans. They have now adopted digital marketing strategy since the 21st
century.
 Digital Strategy
Even though Barclays has implemented digital marketing, it has not optimized its potential to achieve
optimal results (Royle & Laing, 2014). Therefore, the marketing director has directed a team led by
the marketing manager to design and develop a digital marketing plan. The plan needs to optimally
ensure the company’s services particularly banking should reach as many potential consumers as
possible through a digital platform. It is important to note that banking is the flagship project of
Barclays, and it is categorized into retail banking, commercial banking, private banking, wholesale
banking, and investment banking as earlier outlined. The marketing manager and team based its
digital marketing strategy on three models: Segmentation, Targeting & Positioning (STP), Ansoff’s
Growth Matrix, and the Balanced Scorecard (BSc). The digital strategy to be used resembles the
diagram below.
 Segmentation, Targeting & Positioning (STP)

On Segmentation, Targeting & Positioning (STP), several aspects of which most of them are universally
applied (DeSarbo et al. 2009: Sputra, 2020). In essence, the marketing strategy will group potential
markets mainly based on demographics. Demographic segmentation means the company will divide
potential consumer population of Barclays’ flagship products using the variables of age, gender,
religion, income levels, occupation, and race and ethnicity (Kalam 2020: Mujahidin & Khoirianingrum,
2019). Demographic segmentation is fundamentally used in marketing divide large populations into
smaller sizes that can be easily managed. In terms of digital marketing, this divisions ensures, relevant
material is targeted towards the right group. For example, people’s consumption preferences change
with age. Normally a certain age group such as the youth have similar preferences. Similarly, older
individuals have similar preferences. Therefore, after segmentation using age as a variable, digital
marketers can best determine which content is more suitable to direct to a certain group.

Moreover, Barclays’ marketing team identified demographic segmentation as very crucial for
designing the best digital marketing plan. The core variables that the team used in the demographic
segmentation include age, way of living, income, gender, and race religion and nationality. The table
below shows the importance of using each of the variables while developing the company’s best digital
marketing plan.
 Segmenting Factor Targeting Factor Positioning Factors
Age Can meet the needs of the Each group will have different
different age groups. appeals when coming to
marketing. Management can use
the demographics to target each
age group
Way of living Can meet the needs of people They can target middle- and
with different living standards lower-class people as they may
e.g., upper class, middle class, require more loans so Barclays
lower class (Romppanen 2021). can provide affordable rates for
them. Whereas, for upper class
they need to make banking more
accessible e.g., deposit cheques
through the app instead of in
branch
Gender Enables Barclays to distinguish Women have higher
between the needs of males and confidentiality standards than
females (Natter et al. 2008. men. The team designed a
marketing strategy promoting the
company’s confidentiality
protocols to target potential
female consumers.
Income Similarly, to way of living, Lower- and middle-income
income can be segregated into individuals prefer banks that
lower, middle and upper class. offer helping hand in terms of
This allows Barclays to target reaching their financial goals so
each income demographic Barclays could offer incentives
directly. and loans to this groups at lower
rates. High income consumers
prioritize convenient
management of finances so they
could look to promote the
accessibility of their app.

Race, religion and nationality
Table 2.0 STP for Barclay’s
Each of these variables dictates Barclays should promote their
consumer preferences which is excellent customer services as it
essential for Barclays to identify. serves all customers equally
regardless of race, religion and
nationality. However, for certain
demographics can look to
provide other incentives e.g.,
interest free on certain loans as it
will attract Muslims due to
interest being forbidden within
their religion.
 Ansoff’s Growth Matrix

Within the new digital marketing platform, the team utilized the concepts advanced by the Ansoff’s
Growth Matrix. The Ansoff’s Growth Matrix is a tool used by marketers to scrutinize business growth
strategies. The tool can identify growth inherent risk to business plans (Gurcaylilar-Yenidogan & Askoy,
2018). Therefore, the team subjected the new marketing plan to the Ansoff’s Growth Matrix to test
the resilience of the new plan (Maldrum & MacDonald, 1995). The matrix has four parameter which
the team used to test the developed marketing plan. The Ansoff’s Growth Matrix has four parameters
namely: penetrating the market, development of products, market development and diversification
(Haq et al., 2008: Hussain et al., 2013). However, only the first three parameters were identified by
the team as applicable to the new marketing strategy.

Market penetration was relevant to new marketing strategy since it involved increasing the sale of
Barclays’ banking services. The team identified that the best method of actualizing this perspective
was through increased promotional and distribution drives (Loredana, 2017: Taylor, 2012). On the
aspect of product development, the team determined that new product and services including refining
of existing ones needed to be implemented for the new marketing strategy to be successful (Watts et
al. 1998). To make this possible Barclays should integrate forging strategic relations with other banks
particularly online digital money processors such as Paypal. Another parameter that the team
subjected the new marketing strategy was market development. The team identified the entry of
Barclays into processing digital currencies. Digital currencies have become increasingly popular which
could be used as a competitive edge.

How Barclays can utilize Ansoff’s Growth Matrix is shown below:

MARKET PRODUCT DIVERSIFICATION MARKET

PENETRATION DEVELOPMENT DEVELOPMENT
Selling and Selling more to Taking account of the Establishing
buying in the local international buyers internet banking and better market shares
market to obtain a through the offering other internationally.
larger market share developed internet international currencies
locally banking systems
Table 3.0 Ansoff Growth Matrix for Barclay’s
 The Balanced Scorecard (BSc)

The Balanced Scorecard (BSc) focuses on measuring a company’s efficiency in terms of

internal processes and how they relate to employees (Gurd&Gao 2008: Kaplan 2012). In the
modern era the Balanced Scorecard (BSc) is the most popular and most effective tool to achieve
these measurements (Kaplan & Norton 2005: Nørreklitet al.2018). The development team
subjected the new digital marketing strategy to the BSc.

Balanced scorecard includes various perspectives such as learning and growth, business
processes, customer perspectives, and financial data. These perspectives build the company's
vision and strategy. Learning and growth are analyzed through analysis of training and
knowledge resources. This information is obtained and successfully used by employees for
Barclays to gain a competitive advantage within the financial industry. Business processes are
assessed by examining how well products/services are produced. Customer perspectives
include feedback which is collected to measure customer satisfaction with the quality, price,
and availability of products/services. Customers provide feedback relating their thoughts to
the services/products the business provides. Financial data, such as sales, expenditures, and
income are used to understand financial performance and build transparency with the
customers. These financial metrics include financial ratios, budget variances, and income
targets.
A balanced scorecard table with its elements suitable for Barclays
Perspective Objectives Goals Indicators Initiatives

Learning and Effective Leadership Enhance skills and Employee Utilize

Growth techniques within staff Turnover Rate Technology
Develop new skills
Develop quality of work Employee on job
Adapt new techniques Training
programmes
Financial Increase Market Share 5% increase in market Revenue Growth Efficient Use of
share Assets
Raise Shareholder Value 15% increase in net profit Return on
margin Investments Increase Customer
Increase profit margin Retention
Profit Margin
Attract more
customers
Customers Better Customer Service Improved customer Customer Take customer
satisfaction Satisfaction Rate feedback seriously
Transparency
Better relations with Customer Charm to
customer Acquisition Rate customer values

Customer Transparent
Retention Rate business processes

Customer Lifetime
Value

Customer Referral
Rate
Internal Improve productivity Increase staff productivity Improved working Employee
Business by 20% environment feedback and
Increase work efficiency response
Processes Employee Surveys
Employee training
schemes

Work from home

schemes

Effective
communications
within employees
and management

Table 4.0 balanced scorecard table

The measurements focused more on the aspect of customer perspectives (Pietrzak, 2015:
Yuksel & Dağdeviren, 2010). The team identified that while Barclays enjoys favourable
popularity in the U.K, Barclays International faces declining popularity (Wanjuki, 2018). This
is because most consumers in outside the U.K work chose those banks that conveniently suit
their needs. For instance, an individual living in Australia is more likely to choose a bank that
is close to them which in most cases is not Barclays because it is mostly only found in major
towns.
 Digital Marketing Communications Campaign

Digital Marketing Communications Campaign is used to reach predetermined audiences

active on the marketer’s communication channels (Camilleri 2018). The development of an
efficient plan required the team to follow elaborate processes. The team followed the process
of:
i. Designing
ii. Mapping communication concepts
iii. Testing
iv. Development
v. Implementation

The main objective of the digital marketing communication strategy is to effectively

communicate with the audience before new product/service is launched (Corniani, 2006:
Dodson, 2016), the target audience in this case includes all the potential clients who will
transact with the Barclays enterprise. In essence, Barclays’ regular and prospective
consumers must receive the right content by utilizing the various communication channels.
The team began with formulating the communication strategies concerning the campaign
launch. The team determined that the launch of the new digital strategy would be very critical
to its overall success. The goal was to gain as much support as possible during the first
campaign. Nonetheless the launch will include a soft launch and a hard launch.

For instance, the team may opt to offer affordable loans to its customers. This service is
directed to members with limited sources of funds. To reach a larger audience, the team
offers loans at reasonably lower interest rates. The conversion rate as major key performance
indicator should be of more emphasize commensurately offering a good time to funding
(TTF) system. The target audience should be the people who cannot afford to raise the
required funds for their needs. The effectiveness of the digital campaign should be assessed
through the number of likes, shares, how frequently is the app downloaded, impressions,
outreach and the number of new followers.

The soft launch phase has communication processes involved which include emailing and
social media (Pun2021: Yadav 2015). The communication mechanisms contained in the hard
launch are emailing, inclusion of the campaign in occasional newsletter releases, updating
Barclays’ website to portray the upcoming campaign, and use of social media (Pun 2021).
The second phase after launch is the mid-campaign and communication systems involved
include advertising in e-newsletters, podcast Advertisement, affiliate marketing, website
adverts and use of social media (Pun 2021). The end of campaign is the final phase, and it
involves use of email, search engine optimization and social media to communicate with the
profiled audience.

Moreover, assessment on the performance of the banks should be considered through

examining the metrics, indicators and the current values. Key Performance Indicators are
essential in understanding the performance of the campaign. KPI’s include Gross profit
margin, Net Profit Margin, Working Capital etc. Gross Profit Margin is a profitability ratio
which assesses what percentage of revenue is remaining after deducting cost of goods sold.
Cost of goods sold suggests the direct cost of production and does not take account of
operating expenses, interest, or taxes. Net profit margin is another ratio relating to
profitability which evaluates the percentage of revenue and other income remaining
subsequently taking away all costs relating to the business, including costs of goods sold,
operating expenses, interest, and taxes. Net profit margin varies from gross profit margin as a
measure of profitability for the business. Moreover, working capital is a measure of the
business’s available operating liquidity, which can be used to fund day-to-day operations.
 The AIDA framework utilised by Barclays is shown within the table below:
Awareness Interest Desire Action KPI’s
App ü • Click-
Advertising through
rate (CTR),
Cost Per
Acquisition
(CPA),
Total
Acquisition
Social ü ü ü • Cost Per
Media Mile
(CPM)
• Cost Per
Click
(CPC)
• Reach
• CTR
Email ü • Click to
Campaigns Open rate
(CTO)
• CTR
• Bounce
Rate
Advertising ü ü ü • Bounce
in e- Rate
newsletters • CPC
• CTR
• CTO
Podcast ü ü ü • Listen
Advertisement Through
Rate (LTR)
 • CTR
• Call to
Action
(CTA)
Search ü ü • CPC
Engine • Return on
Optimization Investment
(ROI)
• CTR
• Bounce
rate
Affiliate ü ü • Traffic
Marketing • Earnings
Per Click
(EPSC)
• Sales Per
Affiliate
• Growth
• CTR

Table 5.0 AIDA Framework for Barclays

 Impact assessment
Impact Assessment refers to how the performance is impacted and is determined through
impact identification. The assessment should be on whether the target goal and policies targeted
were attained in the campaign. The increase in market share and number of new customers
attained from the campaign should be identified to understand the importance of the whole
process.

The Key internal stakeholders include Barclays’ employees, senior management, and the
owners. The success of the strategy will impact employees since more customers will need to
be served (Fute & Lyimo 2019). Moreover, the senior management will have more tasks
managing increased employees to satisfy the customers. The owners will experience more
revenue thus an increase in profit. In contrast, the key external stakeholders involve consumers
who will learn more about the bank’s new marketing strategy. Barclays gain a competitive
advantage through digital communication with their consumers and amplify this through an
increase in profits but due to increase in consumers, an increase in workforce is also essential.

Conclusion
The new marketing strategy will boost Barclays’ consumer base. The use of Ansoff’s Growth
Matrix, BSc and STP methods increases the chances of the campaign’s success. Moreover, the
campaign will require a comprehensive digital marketing communication plan to be effective.
Remarkably, digital marketing is of more importance to Banks as it will reach a wide range of
new customers. The digital platform is cheaper than the other means of advertisement or
marketing. Strategies like promotion of products and services, segmentation, customer
relationship with the entity, market position as well as market target strategies are much
significant allowing them to be aware of the market share, customers available and the
competitors’ hence enabling necessary measures to be engaged.

The digital campaign assists the management to be aware of any complaints from the
customers and addressing to them appropriately. Unlike the other marketing methods, digital
marketing provides a platform where the management interacts with clients more effectively
hence getting and addressing their issues comfortably. Digital marketing is concerned with
utilizing current technology to achieve goals and objectives for Barclays.
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