The Cambridge Building Society

Changing perceptions, adding growth

Challenge

In an increasingly competitive and fragile market, The Cambridge Building Society recognised the need to reposition the business and create an exciting new brand proposition that would attract new converts without alienating its loyal customer base.

Approach

Our thorough brand repositioning exercise involved senior executive teams and combined interactive workshops with in-depth research. The deployment plan included the recruitment of internal brand ambassadors to help manage advocacy and application of the refreshed brand across multiple locations.

Delivery

We delivered radical and positive change for the brand, which reunited under the new name of The Cambridge. A sharpened personality and tone of voice was allied with a vibrant visual identity rolled out via marketing campaigns and collateral, newsletters, emails, online and TV advertising, and PR. We even embedded an account manager into the client team to maintain momentum and ensure maximum campaign effect.

Outcome

In the initial period following the rebrand, the society attracted 5,500 new customers and grew its core mortgage business by 30%. As Stephen Mitcham, Chief Executive of The Cambridge, put it: “I’ll admit I didn’t see the value of a rebrand at first but it’s the best think we’ve done. It was staggering to see how quickly the vibrancy turned around people’s perception of the society from staid and old fashioned to something forward-looking. We really grew the business very quickly”.

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