Nationwide: A TASTIER ALTERNATIVE TO CASH TO WIN OVER STUDENTS

The Challenge

Winning student customers is about much more than getting them to open an account. Banks are really competing for the opportunity to build relationships with customers at the start of their financial journey, making the student market extremely valuable – and extremely crowded.

Nationwide was competing against established banks and challengers offering high-value cash incentives. Increasing their cash reward would have meant joining an escalating battle for attention without much to distinguish one offer from another.

The challenge was to create a proposition capable of cutting through on perceived value without increasing costs.

Why TLC

Nationwide needed a partner capable of looking beyond industry norms and understanding what would genuinely motivate their audience.

With more than three decades of experience designing acquisition and engagement programs, TLC brought together deep audience insights, strategic thinking, and lifestyle-led rewards to create a proposition grounded in student behavior.

Rather than treating the reward as an add-on, TLC helped make it central to the acquisition strategy. The takeout vouchers complemented Nationwide's existing cash incentive while creating greater perceived value – and more opportunities for continued engagement.

The TLC Approach

While students are highly price-conscious, their choices are largely driven by lifestyle. Our customer insights research showed that food was the most compelling reward, with takeout being a regular part of student life.

We rebalanced Nationwide’s offer to combine £100 cash with £120 in takeout vouchers, creating a stronger value proposition without increasing costs with extra cash incentives.

To maximize impact, takeout vouchers were distributed monthly, maintaining engagement over time and keeping Nationwide top of mind.

We activated the campaign across digital, social, and on-campus channels, including orientation week experiences that brought the proposition to life in a way that felt relevant and authentic for our Gen Z audience.