Global InfoAnalytics Report: GCB retains top spot in Unprompted Brand Recall ranking
In the latest half-year Banking Brand Health report unveiled by Global InfoAnalytics, GCB Bank has once again demonstrated its unwavering dominance, maintaining its coveted first position in the highly competitive unprompted brand recall ranking.
A critical metric in gauging brand awareness, the bank’s weighted average score of 0.46 out of 3 underscores its unparalleled resonance in the minds of consumers.
ADB (Agricultural Development Bank) has also showcased commendable consistency, securing its second position with a respectable weighted average of 0.37 out of 3. The bank’s unwavering performance in this category underscores its solid positioning in the market and resonant brand presence.
Meanwhile, a captivating tussle unfolded among indigenous banks vying to establish their brand recall prowess. GCB stood tall, firmly maintaining its prime status with a noteworthy weighted average of 0.46 out of 3, signifying an indomitable brand appeal.
ADB, a steadfast contender, clinched the second position with a commendable score of 0.37 out of 3, cementing its position as a formidable player in the indigenous banking landscape.
Fidelity displayed a spirited effort, locking horns with Ecobank for the third place, both registering an identical weighted average of 0.21 out of 3.
Venturing into the foreign-owned banks arena, Ecobank emerged triumphant, outshining Absa and securing the pole position with an impressive weighted average of 0.21 out of 3.
Absa, having previously held the top spot in December 2022, encountered a setback this time, relinquishing its position and settling for second place with a weighted average score of 0.17 out of 3.
Access, meanwhile, held firm to its third position, exhibiting resilient brand awareness with a score of 0.16 out of 3.
Unprompted Brand Recall, as a veritable indicator of brand awareness, encompasses multifaceted variables, including market presence, brand promotion, personality, image, values, and storytelling.
In an increasingly competitive financial landscape, brand awareness stands as the bedrock of customer acquisition and retention, rendering it indispensable for financial institutions seeking to thrive in the marketplace.
Global InfoAnalytics conducted this in-depth survey across all 16 regional capitals, engaging a sample size of 1,623 respondents, with interviews conducted between 12th and 14th July 2023.
The comprehensive findings presented in the report provide valuable insights into the dynamic landscape of the Ghanaian banking sector, empowering banks to refine their strategies and better cater to the diverse needs of their clientele.