Ecobank Ghana and Fidelity Bank, have been adjudged the two most recognised banks in the country by Ghanaian research firm, Global InfoAnalytics.
The assertion by the research firm follows findings from a survey conducted across the country with regards to customers’ ability to recall or remember the name of a bank in the country either by being prompted to do so or not (unprompted).
Unprompted brand recall measures how customers think about a brand when asked to think about its industry whereas prompted brand recall on the other, hand measures customer’s ability to elicit a brand name from their memory as a result of a prompt by a product or service category.
This, according to Global InfoAnalytics, was done with by asking respondents the following two questions;
- Which bank (s) come to mind when you think about banking?
- Which bank is your first choice for banking?
Per its findings from the survey, Global InfoAnalytics noted Ecobank led banks in the country for prompted brand recall with 11.67 percentage points followed by Fidelity with 10.87 percent and GCB with 10.06 respectively.
For unprompted brand recall, the survey shows 16.14 percent of respondents mentioning Fidelity Bank, followed by GCB with 13.4 percent and Ecobank with 12.11 percent.
The maiden report by Global InfoAnalytics titled Banking Sector Brand Health Check and launched in March 2021, aside tracking banks’ assets values and comparing it to key brand metrics on quarterly basis, will also provide banks and customers up-to-date status of “banking brand health.”
A brand’s health survey is essential to the success of a company as it unlocks a wealth of new data and rich insights that help to grow brands, iterate, and track success against competitors.