Brand Vista and Ci Research used BAMTM to assess how successfully the UK’s top 10 high street banks are aligned to their brand visions. For this study they surveyed 1,000 respondents from three distinct samples: a bank’s customers, its competitors’ customers and industry staff.
The results indicated that: “banks are light years away from achieving their visions,” according to Gary Moss, chairman of Brand Vista.(pictured) Indeed many of the banks involved in the survey – NatWest, Bank of Scotland, Barclays, RBS and Halifax – achieved a negative overall brand alignment score, revealing a significant gap between projected visions and values and the actual experiences of customers and employees. The results highlighted clear opportunities to adopt brand alignment principles and assess whether their current brand measurement tools are delivering real value for money.
Gary Moss continued: “Brands are built from the inside out and this new tool has been designed to recognise that people, products, processes and communications must be in sync in order for a brand to be effective. Ci Research was the obvious partner to develop this ambitious new tool. From the start, we’ve had complete confidence in the company’s robust research techniques, and the energy and professionalism of the team have made this project a real success.”
Ci Research and Brand Vista are presenting the findings of their Banking BAMTM study at the Market Research Society Financial Services Research Conference on 13 October 2011.
For more information, visit www.ci-research.com / www.brandvista.co.uk.
