Brand management is also very important and traditional at building societies. A current survey shows that two building societies score particularly well when it comes to brand awareness.
Brand management plays an important role in the marketing of building societies.
The building societies didn’t have it easy during the low interest rate phase. But especially in difficult times, branding is particularly important in customer communication. And this shows that consistency (which is inextricably linked to the topic of real estate) also pays off in marketing.
Two building societies stand out
As part of the joint exclusive survey by YouGov and Der Bank Blog on the awareness of brand claims in the financial industry, the slogans of building societies were also examined.
Of the five building societies examined, two stand out:
- 35 percent can correctly assign Schwäbisch Hall’s brand claim “You can build on these stones” immediately and 44 percent correctly after naming a selection.
- The LBS claim “We give your future a home” was correctly identified by 25 and 29 percent respectively.
The claims of the other building societies (Wüstenrot Bausparkasse: “Living means …”, BHW: “Together for your home”, Debeka: “It counts for each other”) are largely unknown.
Only two building societies manage to achieve significant recognition with their brand claims.
Broad anchoring of building savings claims
Both claims convey security, trust and stability, competence and reliability. While the Schwäbisch Hall building society uses its brand message to underline its cooperative origins and its roots in a world of “homeland” values, LBS primarily wants to appeal emotionally to the target group of young families.
Both claims succeed in this, as they are particularly well known among the property-savvy age groups aged 35 and over. However, the Schwäbisch Hall building society has a clear lead over LBS, especially among younger target groups.
Older bank customers know the Volks- und Raiffeisenbanken brand claim better than younger ones.
When it comes to the association, the comrades are at the forefront
When looking at the awareness of the two brand claims by bank details, it is clear that the cooperative banks’ network concept is also bearing fruit here. 56 percent of Volks- and Raiffeisenbank customers can correctly assign the claims of Bausparkasse Schwäbisch Hall.
With the LBS claim, only 32 percent of savings bank customers succeed in this.
Even with other bank connections, the awareness of the Schwäbisch Hall claim clearly dominates that of the LBS.
Awareness of the brand claim of the Schwäbisch Hall and LBS building societies according to bank details.
Long-term and consistent brand claims pay off
Both Schwäbisch Hall and LBS have been building on their claims for a long time. “You can build on these stones” from Schwäbisch Hall has been in use since 1962. The LBS claim “We give your future a home” since 1970.
And audio marketing was also thought of early on. Both building societies also rely on a corresponding musical logo (Mogo) as a characteristic acoustic identifier, which is intended to enable or support brand recognition even without the use of text or graphic elements.
The LBS added the matching jingle to its claim as early as 1979. Schwäbisch Hall followed in 1984.
As with the bank claims, it becomes clear when analyzing the brand claims of building societies that long-termism and consistency in marketing are crucial for sustainable success.
2023-09-18 22:39:26
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