UK Post office invests £10 million in drive for revenue
The Post Office® today (December 27) announced it is investing £10 million in its biggest ever drive to increase revenue and win a new generation of customers for the future.
The company is returning to television advertising after a two year gap as it prepares for New Year plans that include the launch of new financial services, expansion of banking services and a revamp of branches.
The new financial services are being developed as part of a £125 million joint venture with the Bank of Ireland and will include personal loans, savings accounts, credit cards, personal insurance and mortgages.
The Post Office® is also planning to add to its banking services, offering an automated deposit service in addition to the current automated withdrawal service. It also plans to sign up more banks to add to the seven it already has agreements with.
Other Post Office® plans include revamping selected Post Office branches with new layouts, fixtures and fittings. Five Post Office® branches in London and the South East are involved in a “working models” pilot of the new look.
Using the latest computer animation produced by the company responsible for the BBC’s award-winning Walking with Dinosaurs and the Harry Potter films, the advertisements feature a family of ants using the growing range of Post Office products in their everyday lives, to illustrate Post Office® branches are “for the little things that make the big things happen”. The company’s product literature in over 16,500 Post Office branches has all been redesigned to reflect the new theme.
Post Office® Chief Executive David Mills said: “Post Office Ltd aims to continue being a relevant part of people’s lives and this advertising gives a clear statement of that intent.
“I want to make Post Office branches places people want to visit, rather than just need to visit.”
The advertising will focus initially on travel services and banking. Since entering the market in 1993, Post Office Ltd is now the largest provider of bureau de change foreign currency in the UK with 18 per cent of the market. It is also the fifth largest provider of travel insurance, close behind the largest providers who are all travel agents.
In the banking market, the Post Office® now offers 21 million Lloyds TSB, Barclays and Alliance & Leicester customers access to cash over the counter. Current account holders with The Co-operative Bank, internet banks cahoot and smile, as well as first direct in Scotland, can also access their funds over the counter at Post Office® branches.
Future television advertisements in 2004 will focus on the organisation’s new range of financial services. The first new product will be a personal loan, planned for launch in the Spring.
Ends
Issued by Post Office Ltd
148 Old Street
London
EC1V 9HQ
www.postoffice.co.uk
Notes to editors:
· The Post Office® has over16,500 branches
· The Post Office® is the biggest cash handler in the country – with more than £140 billion passing through its hands each year. More than 500 million household bills are paid at Post Office branches each year – with a value of £12 billion.
· Post Office Ltd achieved a 13 per cent reduction in its loss during the first half of the financial year 03 04 to £91 million
· The new television advertising campaign was co-ordinated by Publicis with animation completed by Framestore CFC. Design and production of in-store materials is by Joshua.
www.postoffice.co.uk
