South African-owned bank First National Bank (FNB), in terms of banks’ Share of Voice (SOV) leads the various banks in the country with a 29.14 percentage points SOV.
This is according to a report by Global InfoAnalytics, a Ghanaian research firm.
The assertion by the research firm comes on the back of a survey conducted among bank account holders across the country.
Following FNB are Fidelity Bank and GCB with a 14.13 and 6.71 percentage points share of SOV respectively.
“During the period of the survey, FNB dominated the share of voice (SOV) with 29.14%, followed by Fidelity with 14.13% and GCB with 6.71%,” stated Global InfoAnalytics.
Share of voice (SOV) is the number of times a brand is mentioned on the web against competitors.
Share of voice covers both brand awareness and customer engagement, as it reflects how often a brand is seen online and how well the customers engage with its content.
Explaining FNB’s lead in its SOV metric survey, Global InfoAnalytics attributed FNB’s lead to promotional services being run online during the period of the survey.
“Further analysis of the data suggests that during the survey period, FNB was running promotion of mortgage services, hence, earning higher percentage on the share of voice metrics,” the report noted.
The maiden report by Global InfoAnalytics titled Banking Sector Brand Health Check and launched in March 2021, aside tracking banks’ assets values and comparing it to key brand metrics on quarterly basis, also provide banks and customers with up-to-date status on “banking brand health.”
A brand’s health survey, the research firm notes, is essential to the success of a company as it unlocks a wealth of new data and rich insights that help to grow brands, iterate, and track success against competitors.