Meyocks

Evaluating Perceptions for a Regional Bank’s Brand Strategy

A regional bank sought to evaluate consumer perceptions of two potential logo designs to inform brand identity decisions. Rather than simply test creative concepts, we went above and beyond to better understand how both personal and business banking consumers shop for new financial institutions. We wanted to assess what qualities consumers value most and in what contexts they seek various financial services, so we could provide a brand strategy to help strengthen customer acquisition and retention efforts.

  • Custom Research
  • Consumer Research
  • Marketing + Creative Research
  • Customer Journey Mapping
  • Creative Testing

General Population Surveying

Meyocks conducted an online survey targeting a Census-balanced general population audience of around 1,900 banking consumers across the U.S. The study included 800 personal banking consumers and 1,100 business banking consumers, none of whom were current customers of the client.

The survey explored:

  • Consumer perceptions of two proposed logo designs.
  • Decision-making behaviors for both personal and business banking.
  • Brand qualities consumers most value in a financial institution.
  • Triggers and contexts that lead consumers to seek new financial relationships.

Clear Path Forward

The findings provided the client with clear, data-driven insights to inform both branding and marketing strategy. Our findings included:

  • Consumer preferences between the current and redesigned logo.
  • High percentage in correctly identifying the brand showed the institution’s name recognition is strong.
  • Personal banking customers showed high loyalty, while those open to switching were primarily motivated by better rates or the need for additional services.
  • Business consumers showed more dynamic loyalty, with almost half saying they were likely or extremely likely to switch or add accounts in the next six months.
  • Businesses were more likely than individuals to use Google and social media to research potential new financial partners.

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