LHV Bank is a subsidiary of LHV Group, a growing financial group based in Estonia. LHV Group entered the UK market in 2018 by opening a branch and joining the UK payment schemes to provide Banking Services to international financial institutions. In 2023, LHV Bank was authorised as a credit institution, gaining status as a UK authorised bank, regulated by the FCA.
The bank was launching a retail banking proposition in the UK, beginning with a phased rollout of its direct-to-market retail deposit range, then extending into current accounts. It needed a go-to-market strategy that would support their initial launch while building scalable foundations for long-term growth.
The bank had already mapped a high-level UK marketing strategy alongside its proposition roadmap. The task was to develop this into a detailed, phased GTM strategy for Board approval.
Market and competitive insight:
We delivered a detailed market and competitor analysis to identify gaps and opportunities where LHV could position itself strongly against competitors. We started with the obvious (interest rate, digital delivery, service), then dug into behaviours and mindsets (customer sentiment and generational trends). In a crowded market, success meant finding a space where LHV’s DNA matched a specific consumer profile.
Positioning:
Building on this market insight, LHV’s strong culture led us to a beliefs based, purpose-driven positioning that tapped into a specific mindset, leveraging the trends and generational differences we’d identified at market level.
A bank built by entrepreneurs for the opportunity seekers in life, backing ambition and empowering a better future. Encouraging people to take charge of their money and make it work for them.
Audience definition:
Working from the premise that brands resonate most strongly when customer and audience mindsets align, we profiled mindset fit across the retail banking sector, building segment profiles for yield-hunters, self-starters and money-builders. Each profile mapped behaviors, pain points, channel usage and media consumption.
Journey mapping:
Using this audience research, we mapped the purchase journey and key decision-points, creating an overview of the marketing jobs to be done at each stage, alongside the media channels best suited to the job.
Go-To-Market:
We brought these elements together into a phased GTM strategy: entry into the direct retail savings market, followed by current account launch. We pulled audience, positioning, channel plans and phasing into a board-level paper, supported by a marketing budget forecast. As part of phase one, we identified PR as a critical channel to support launch, and ran the agency RFP process, assessing seventeen agencies, shortlisting eight and pitching four. Once the agency was selected, we supported onboarding and shaped the statement of work.
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