2016 had seen Lloyd’s stride forward in our hi brands sustainability matrix, following the successful ‘On your side, for your next step’ campaign. It moved towards the compelling category and remained firmly in that segment in the latest wave of research. Barclays has also edged from being strong into compelling. The traditional high street banks tend to be in the ‘strong’ segment with lower scores for future relevance, and generally less excitement surrounding these brands. However, improvements have been seen for some since our hi brands study commenced in 2015.
Halifax was the biggest mover this Spring, reaching beyond Santander and towards Nationwide, consistently the most ‘compelling’ brand. These three brands ranked highest on their future relevance. This, alongside their strong brand equity, make them consistently the most compelling brands. The cartoon hero TV ads appear to have increased excitement around the Halifax brand, with an increased number ‘really liking the people behind this brand’.
Challenger banks such as Think banking and Metro also perform well on future relevance – the sense that they ‘evolve to take account of consumer needs’. There tends to be greater excitement around the challenger banking brands, that includes Coventry Building Society, Virgin Money and First Direct.
For more information on the movers and shakers according to hi brands, please contact Vicky Whiting in our Financial Services team (email@example.com).
Additionally, register for our webinar on 17th May at 11:00 to learn more valuable information about hi brands.