It appears the coffers are exceptionally well stocked when it comes to the HBOS and Lloyds TSB advertising budget. This a clear indicator of the extent to which their public image is of value to them. What's more, in recent years, the groups funding for advertising has substantially increased in an effort to protect, as well as enhance, their public profile and counterbalance the less than endearing headlines which have dogged them since the early days of the economic recession. At a time when many businesses are being forced to tighten their belts and economic growth is made harder by increasingly stringent lending criteria, Lloyds TSB and HBOS “increased their advertising spend by “76% and 65% year on year respectively equating to a combined £82m,” spent on avertising according to More about Advertising’s March 2011 issue.
Regardless of exactly how many millions are spent on the marketing of this banking giant, it doesn’t surprise me in the slightest to hear that the Lloyds Banking Group are prepared to shell out huge sums of money on business promotion and public awareness in order to maintain their market share. Nor does it surprise me to hear them being accused of being “happy to poor money down the drain with digital marketing”.
Nevertheless, what continues to amaze me is how one department of this huge corporate machine is rewarded exceptionally well to do the vital job of keeping the Lloyds and HBOS name squeaky clean and at the forefront of every potential consumers mind, while another department, belonging to the very same Lloyds and HBOS corporation, are paid equally well to ride roughshod over the victims of an irresponsible HBOS culture without compassion or integrity risking public disfavour;
· By declaring these same individuals do not qualify for debt counselling or even arrears notification because they are married women.
· By insisting, due to past experience, the reason they have not bothered toddress either of the above is because most people in debt do not wish to talk to their creditors.
Surely someone at HBOS or the Lloyds Banking Group understands it is irrelevant whether £82.00 or 82 million pounds is spent on promoting a positive corporate image because it is completely wasted if HBOS letters such sexist and inprofessional statements reach the public domain, regardless of how much Antonio Horta Osorio talks of resilience in a difficult market, slimmed down balance sheets and improved customer service in his press releases?
They say the wise understand themselves while fools follow the reports of “others”. Believing Antonio Horta Osorio to be nobody’s fool, I cannot imagine he will be either happy or humorous when he discovers his efforts are being undermined by the actions and reports of the HBOS “others”.