TSB's Controversial Campaign sweeps the Marketing Awards 2023

After a two-week period of voting in four rounds, readers of Our Website have selected TSB’s ‘The elephant in the room’ as their top marketing campaign of 2023.

The bank’s campaign, which addresses financial taboos and introduces a new brand mascot, resonated with the voting public and emerged victorious over Guinness’ singing pints of stout in the final round of the competition, pushing the alcohol brand’s creative into second place.

The winning campaign

In the lead-up to the final, both contenders successfully navigated intense competition from popular brands such as Barbie, McDonald's, and Heinz, all of which were highlighted in Our Website's top campaigns of 2023.

This year, TSB decided to refresh its brand after a multi-year partnership with Friends actor David Schwimmer. The bank introduced its first-ever brand mascot, Tiny the Elephant, to realign its marketing strategy around the concept of getting people to talk about money. TSB CMO Emma Springham explained that after the successful Schwimmer-led campaign, the brand aimed to address "long-held misperceptions of finance" with the introduction of Tiny, voiced by actor Daisy May Cooper in a campaign created by McCann London and Riff Raff.

In the testing phase, 74% of respondents expressed that they found the mascot to be either ‘likeable’ or ‘really likeable’. Similar to other mascot-led campaigns, the character was specifically created to endure the test of time and to grow on people over an extended period. Springham further explained, “We aim for it to be daring and we want it to make a stronger impact. We sought something with lasting power.”

Studies have demonstrated that when done effectively, mascot characters are more likely to attract new customers, increase market share, and decrease price sensitivity. This holds particularly true in B2B marketing, as noted by Peter Weinberg and Jon Lombardo of LinkedIn B2B Institute, who described them as the most overlooked asset in B2B marketing.

This long-term strategy aligns with TSB’s marketing performance and planning manager, Owain Jevons, who previously highlighted the bank's three-year outlook, rather than just focusing on the short-term.

The character was created with a focus on long-term customer acquisition. When discussing the bank's in-school program, which aims to provide financial information to young people, Springham emphasized the mascot's flexibility, stating "the character brings a playful element to that environment."