Research Finds That Focusing On The Customer and Understanding Their Needs Are Paramount to Increasing Performance
Boston, MA – June 25, 2008—Phoenix Communications and Brand Analytics (CBA), a Phoenix Marketing International practice, today announced the results of its advertising and brand performance study for Retail Banking: Phoenix Retail Banking Category Audit Overview of Advertising Performance Ads Tested: May 2008. This proprietary research monitored over 200 TV and print retail bank advertisements for the last 30 days.
“Our clients are asking three basic questions: Who is my target customer and what are they looking for?; What product/service can I offer that can satisfy consumer needs and set me apart from my competition?; and How can my product/service offering benefit my target audience?” stated Tom Cook, Senior Vice President of Phoenix Marketing. “Our research delivers the answers within a multi-dimensional view of retail banking from the customer’s perspective.”
Cook also pointed out that the research demonstrates advertising’s impact on customers’ willingness to consider competing banks and on their decisions to take actions such as requesting information on products and services, starting new banking relationships, and increasing account balances.
“Our research uncovered what has worked and what has not worked for retail banks in the past year,” continued Cook. “Furthermore, the research into TV and print ads has illustrated the evolution of specific brands over time. Our clients gain insights on the relative importance and creative performance of their ads and competitors’ ads that appear in print or on TV.”
The research tested 107 TV ads across 20 brands and 107 print ads across 19 brands.
Top Five Retail Banking Advertising Campaigns over Last 30 Days Ranked by Advertising Performance
- SunTrust - Open An Account
- Charles Schwab - Free ATM (3.01%APY)
- JPMorganChase - Secret Agent Man :30
- Wachovia - No Changes
- ING - Your Number
About The Phoenix Communications and Brand Analytics Practice
The Communications and Brand Analytics Practice of Phoenix Marketing International specializes in evaluating advertising effectiveness and measuring brand performance. Large category audits with thousands of responses are fielded every month. Predictive models are developed and used to score category audits for Investment Services, Financial Advisors, Active Trader, Consumer Credit Card, Property and Casualty Insurance, Automotive, Business Credit Card, and Business Banking.
About Phoenix Marketing International
Founded in 1999, Phoenix Marketing International is one of the fastest growing marketing services firms in the United States and partner to many of the largest companies in the financial services, consumer package goods, automotive, healthcare, and travel and leisure industries worldwide. Phoenix also offers advanced advertising and brand measurement along with direct marketing expertise.
Phoenix Marketing Contact:
Tom Cook
Senior Vice President
Phoenix Marketing International
727-394-1800
Tom.Cook@phoenixmi.com
Press Contact:
Ray Graber, Graber Associates LLC
781-221-0018
Ray@GraberAssociates.net