Are you using the least loved financial brands?
Now one company, Brandlove, has assembled an index of the least loved financial brands. So who made the list, and why?
The least liked financial brand in the UK is GoCompare. This may be an interesting side effect of a striking and regularly-aired TV advert. Given how much they have invested in order to stand out from the crowd, it's an interesting question whether it's better to stand out for the wrong reasons or to fade into the pack.
The second least liked brand is Legal & General, which has committed the crime of being a bit dull, and not being linked with growth, innovation or excitement. It's just a bit too boring and bland to get us excited.
Third on the list is Admiral, which a certain sailor and his parrot may have something to do with.
Fourth is AXA - another boring brand with a long way to go before it inspires us.
And fifth is Barclaycard, which suffers from the fact so many of us see it in our wallets and thing of the huge interest and repayments we are facing.
At the other end of the spectrum there are some brands we have warmed to. Top of the list is First Direct, which owes a great deal to their approach to customer service, and their staff training - which means you're left with at least some degree of confidence that your requests are being carried out rather than tolerated and ignored.
Next on the list was Paypal. The interesting thing about this brand is that it does something straightforward by letting you pay securely online. It makes life marginally easier for us, and it doesn't go wrong. You see we don't ask much from our financial brands, but when we get the basics we love it.
And third was Nationwide, benefiting from a no-nonsense reputation.
So what does this tell us about financial brands?
Alarmingly it seems that often the most striking thing about a brand is its advertising. When it can cost us thousands of pounds over a lifetime you would hope our appreciation went somewhere deeper. Likewise, disliking an insurer for being a bit dull seems a bit short-sighted.
With so many of us facing rip offs and disastrous service, surely its time we were more grown up about financial brands and made decisions for good financial reasons.
But what do you think? Let us know in the comments.