Landor Perspectives 2009 – Rebuilding financial brands: Is the foundation cracked?
is global director of financial services for Landor Associates.
Brands have evolved far beyond their original roles as simple marks of authenticity and trust, today reflecting complex customer relationships based on the promise and delivery of consistent and distinctive experiences. Looking at banking brands, one might ask whether the current financial crisis has so shaken our confidence that their loftier promises are no longer credible or even relevant. Regaining basic trust is the overriding challenge, but what is the prognosis for the long-term value of these brands?
Although bank stocks have lost enormous value over the past year, it is less clear that bank brands have suffered to the same extent. To explore this, Landor took a sample of 23 leading financial services firms and looked at their one-year performance trends through three different lenses: stock value change1, brand value change per the Financial Times' top 100 brands list, and underlying brand health trends per BrandAsset® Valuator2, Landor's proprietary brand tracking study. The combination yields both expected and unexpected results.