Do banks have a chance to become love brands, i.e. brands that evoke positive emotions and that we are willing to recommend to others? After all, how to arouse love in customers for an industry that stereotypically does not enjoy much sympathy or is considered quite boring? At the same time, banks are faced with the challenge of building relationships with customers, with strengthening their loyalty and attachment, and on the other hand with the consequences of possible failure in this area.
- What does the first relationship with the bank bring to the customer, and what does it bring to the bank itself?
- Does customer loyalty matter? Is it possible (and how) to succeed as a second-choice bank?
- Generation Z and loyalty – is it even possible? Can banks be liked by customers of every generation at the same time?
- What is the potential of positioning oneself as a love brand in banking?
- What strategies are banks adopting to get out of the “finance only” category?
The opening presentation will present the results of a survey that explores consumer perceptions of loyalty, depending on the industry. Respondents also answered questions about whether they have their own love brands, and are financial brands among them? We will consider what it takes to be a love brand, does such positioning change the relationship with the consumer, and, ultimately, what is the customer’s perspective?