This presentation, given by the BAV Group® at the ARF’s 2018 FINANCExSCIENCE event, reveals the attributes on which financial services brands should focus to lift measures of their brand equity. These brands not only must address their own situations, but also deal with the challenges of the overall category:
• The financial services category suffers from a number of hurdles, e.g. regulations, operational challenges, risk management concerns, etc. that affect its value. As a result, the category has low value among consumers.
• This does not mean that brands in the category have to face the same fate. According to presenter Ann Rivers, Managing Director of the BAV Group, financial brands can raise brand equity by measuring “things like ‘cares about customers,’ daring, different, friendly, fun, quality, straightforward.” And, if brands can strengthen perceptions for these attributes, odds are that their business results will improve, as well.