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How Strong are Nigerian Banking Brands?

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BRAND VALUE – AN ASSEST NO CEO, CFO OR CMO SHOULD IGNORE

Today businesses operate in a constantly changing marketplace. Consumer values and needs change; products and services change; competitors change and adapt. One of the most frightenly undervalued assets of any company is their brand strength.

Doug de Villiers, Group CEO of Interbrand Sampson de Villiers, believes the top performing global companies all have one critical commonality – they recognise that brand strength is an asset. If strategically understood, measured and positioned, the asset value of a company’s brand has been seen to be the answer to closing the gap between existing annual return and their potential return.

As the global leader in brand development, Interbrand holds the only ISO 10668 standard for brand valuation. Interbrand’s strategists believe that the hidden potential within brand value is an asset that no CEO, CFO or CMO can ignore.

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With global companies and financial institutions jockeying for local competitiveness and simultaneously looking for acquisitions across Africa, the role and strength of these brands is constantly under the spotlight.

In March, Interbrand Sampson de Villiers will be commencing the 2015 Brand Strength Assessment™ research and analysis survey. Covering all the major banking, petrochemical and telecommunications companies in South Africa, Nigeria and Kenya as well as all South African financial institutions, healthcare, pharmaceutical, insurance and automotive companies. This benchmarking study will allow for African institutions to be favourably compared with their global counterparts, both for merger and acquisition purposes and for general brand performance and optimisation.

Previously conducted in 2010, the second instalment of this market leading brand assessment study aims to compare the position of the brands 5 years later as well as aim to;

  • Understand the brand drivers for companies across a variety of industry sectors
  • Understand influencers such as the press and governing bodies
  • Understand the potential of optimising marketing budgets and splurge in diverse territories and market sectors
  • Measure the achievement of brand expenditure and positioning optimization on an annual basis
  • Ensure that companies are presenting and managing their brands in the most valuable and lucrative manner
  • Understand how company brands are currently performing and identify potential areas for improvement and even investment.
  • Identify opportunities, compare and contrast the overall market need, client and staff-specific perceptions, identify vital gaps for marketing, communication, business and brand strategy development.

Interbrand Sampson de Villiers’ Brands Strength Report of 2010 was used by most of the continents leading banks to measure real brand performance beyond just awareness. The research provided a platform for companies to measure the success of their brands as well as benchmark their performance with worldwide standards.

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Applications for the 2015 Brand Strength Assessment™ close on 31 March 2015. Report delivery will include a full presentation of the findings to the client member’s team.

Interbrand Sampson de Villiers encourages banking, petrochemical and telecommunications companies in South Africa, Nigeria and Kenya as well as all South African financial institutions, healthcare, pharmaceutical, insurance and automotive companies to partake in this extremely cost-effective, syndicated and in-depth study. Participation will bring together all aspects of brand – its people, products, positioning and partners, to create a holistic and accurate way of understanding and evaluating brands.

About Interbrand

Interbrand is the world’s leading brand consultancy, with a network of 33 offices in 27 countries. Since it opened for business in 1974, it has changed the way the world sees branding: from just another word for “logo” to a business’ most valuable asset to business strategy brought to life. Publisher of the highly influential annual Best Global Brands ranking, Interbrand believes that brands have the power to change the world—and helps its clients achieve this goal every day. Interbrand’s combination of strategy, creativity, and technology delivers fresh ideas and insights, deep brand intelligence, clear business opportunities, and compelling brand experiences. Interbrand is part of the Omnicom Group Inc. (NYSE: OMC) network of agencies. For more information, please visit us at Interbrand.com

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