Banking Survey: Social media still the most influential platform for brand visibility
Social media platforms, Ghanaian research firm Global InfoAnalytics asserts, remains the most influential platform for brand visibility for banks in the country.
According to the research firm, social media accounted for 32% of banks’ brand visibility among customers.
This is despite a 6 percentage points drop in brand visibility offered by social media platforms to banks when compared to the 38% scored in third quarter of 2021.
Billboards and TV came in second place as both ranked equal in brand visibility with 21%.
Radio came next with 14% whilst newspapers scored 6%.
According to InfoAnalytics, 6% of the surveyed customers did not see their banks visible on any of the aforementioned platforms.
“Although social media continues to be the most influential platform for brand visibility, it saw a sharp decline in this quarter by a 6-percentage point from 38% in Q3 to 32% in Q4. Billboards and TV ranked equal in brand visibility with 21%. Radio comes next with 14% whilst newspapers scored 6%.
“6% of the respondent said they did not see their brand visible on any of the platforms mentioned,” Global InfoAnalytics stated.
Brand visibility measures brand presence that ultimately helps to create brand awareness. The frequency at which people see or hear about the brand on radio, television, billboard, newspapers and other media platforms is used to measure brand visibility.
The survey for the fourth quarter report was conducted in December 2021 in a nationwide survey in all sixteen regions of the country.
The survey was conducted with a sample size of 2,009 bank account holders across the country.
The survey assess banks’ Key Brand Metrics (KBM) such as Brand Recall, Purchase Intent, Brand Visibility, Net Promoter Score (NPS), Brand Equity and Share of Voice.
