Tuesdata: The most popular financial services brands this year
Welcome to Tuesdata, where we pick apart the most interesting data in the media and marketing industry.
As we go deeper into a cost of living crisis a number of brands will be closely monitoring their consumer perception. Directly in the firing line are finance brands.
With the RBA lifting the cash rate again last week, this time by 50 basis points, it’s time to look at how consumers rate the financial services brands that they use.
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Statistics this week are provided by market research company YouGov, which creates the YouGov BrandIndex.
It tracks finance brands and gathers a net recommended score by asking respondents, "Would you recommend the brand to a friend or colleague?". Only respondents who are current or former customers of a given brand are interviewed.
The finance sector includes a range of brands from insurance to banks, superannuation, payment networks and more.
Despite their speed at passing on rate rises, a big bank does manage to make it into the top five. It should be noted though that for the majority of this year rate rises were merely a threat rather than a reality, with the first rise taking place in early May.
It was payment brands, however, that have really endeared themselves to consumers in 2022.
A brand can technically score as high as 100, although a good score is generally anything in positive territory, with some brands falling into negative territory.