Courtesy of Cymfony a report from Landor Associates in conjunction with Fortune Magazine, ranks the top brands in 2006. The study identifies the ten brands with the greatest percentage gains in brand health and business value

The ten brands are:

1. iPod – consumer electronics
2. Viking – major appliances
3. Converse – athletic shoes 
4. Robitussin – cough & cold 
5. Best Buy – electronics retailer 
6. Kohl’s – department stores 
7. French’s – condiments 
8. Geico – insurance 
9. Dove – personal care 
10. eBay – online auction

Source: Landor: News: FORTUNE Magazine Publishes Landor Associates’ Second Breakaway Brands Study (9/12/2006)

Based on Landor’s assessment of the results, they concluded three elements were driving the success.

Landor’s strategic experts conducted additional analysis of the ten brands and found that each enhanced their dialogue with customers by embracing one or more of the following trends:

Building on a foundation of trust

This year’s brands earned their customers’ confidence by living up to their promises; in turn, their customers trusted and followed the brands as they diversified and moved into new spaces.

Cultivating brand communities

Leadership brands capitalize on the basic need for human connection by allowing enthusiastic customers to borrow the brand image to express a collective voice: The voice of a brand community.

Empowering customers with knowledge

The ten brands in this year’s list are arming their customers with information; by proactively educating customers, a brand can better manage its image and get valuable feedback in return.

These are powerful characteristics.  Its interesting to assess banks on these measures, and consider examples that fit the pattern.

Building a foundation of trust:

I think just being a Banks and having a vault is table stakes.  The old view that Banks were safe does not translate into trusted anymore.  I recently reviewed the matter of security guarantees and listed off the Banks by continent that offerred a guarantee.  But the real measure of Landor’s trends is the willingness of customers to follow the brand into new spaces. There are not too many examples I can come up with for Banks moving into new spaces to assess that.

Cultivating brand communities

I reviewed this here.  The list is getting long, but the real community efforts is short.

Here is the complete list, that I am aware of to date – please comment me with any others:

• VanCity: Change Everything
• HSBC: Your Point of view
• Wells Fargo: Student LoanDown & Guided by History
• Windsor Motor City Credit Union on MySpace
• ING Direct as noted (haven’t located it yet 🙂 )
• ING blogs Asia/ Pacific and microfinance
• Savings & Loans Credit Union CEO Blog
• RBC Royal Bank of Canada nextgreatinnovator.com

The list of industry insiders is much longer, and you can get those in my blogroll in the sidebar.  Industry insiders – 30 +/ bank communities – 8.

Being true to the strategy and my own beliefs, means that a corporate blog is not the answer.  But a community or encouragement of community participation is absolutely on the cards.

As a proxy for that I tried Technorati and tried a couple:

Wells Fargo:  Student Loandown

 

Technorati:

The Student LoanDown

Search this blog

• Rank: 346,003 (36 links from 9 blogs)
• URL: http://blog.wellsfargo.com/StudentLoanDown
• Updated: 18 days ago
• Favorited by: 0 members

Then Google BlogSearch:

Results 1-15 of about 15 for ‘The Student LoanDown‘

Vancity: Are you ready to change everything

 

Technorati

“Huh?  There are blogs, and then there’s whatever you just typed in.”

and Blogsearch

Results 1-30 of about 310,417 but no mention of the Vancity site, except #6, which was my post on it.

Results – pretty dismal actually.  I am highly supportive of these endeavors, and wish for them to succeed as much as the people behind those ones wish to succeed.  I am being hard on them only because I want to see them succeed.

Empowering customers with knowledge

The final Landor trend speaks to openness and a culture of communication, learning, and conversation.  Most Banks interpret this as “learn more about” type links on their site.  Few go as far as ETrade in their customer advocacy efforts, by providing tools to permit self management of investments.  In effect they open up the smarts that used to come only with Investment Advisors.

ING may come close on this category, by painting themselves somewhat outside the typical bank, and poking at service charges, and inadequate interest rates head on.

Relevance to Bankwatch:

Generally a failing grade for Banks along the three Landor dimensions.