TSB's Segmentation Success Story

Client: TSB

A recent switcher campaign had successfully acquired customers, but higher-than-expected attrition among switchers became evident at the end of 2022. This raised questions about the efficiency of the switch incentive in driving longer-term profitability. The problem with these customers is that as soon as their term is over, and they identify another switching offer, they’re off! This is more prevalent than ever, with 1.5m current account switches in 2023, the highest figure on record.

There was an urgent need to engage those most likely to open a new account with TSB and importantly, remain a loyal customer. By removing the disconnect between planning and buying audiences and creating a custom, tech-driven segmentation, TSB was able to identify and convert customers, without needing to dangle the ‘switch incentive’ carrot.