Canadians feel the most brand love from their banks, according to report
While Valentine's Day is all about personal relationships, a Canadian study reports today that three quarters of Canadians also want relationships with the brands they buy. When it comes to relationship-building with the public, surprisingly Canada's banks are doing better than airlines, insurance companies, communications providers and sports teams in building that love with their customers.
A national survey shows that 73% of respondents are interested in having relationships with the brands they buy and the service providers with which they do business. 82% say they are more likely to do business with a brand that builds a relationship with them, and the same number say they are more likely to recommend the brand to their friends.
The study also compared five types of brands to explore which were most successful at building "public relationships" with their fans, looking at six key dimensions of relationships that academic research has found between brands and their publics: trust, satisfaction, commitment, caring for customers, concern for people, and the public's ability to influence the brand.
Canada's banks edged out airlines for the top public relationships score in these five key sectors. But the greatest surprise is that despite Canadians' passion for sports, they do not feel the nation's professional franchises are returning this love by building strong relationships with their fans.
"Argyle's research shows that while Canadians want to love their brands, we often feel the love affair is one-sided," said Daniel Tisch, president and CEO of Argyle Public Relationships. "The results show that banks and airlines are making progress, while Canadians feel their pro sports teams take us for granted. Given the strong correlation between relationships, sales and recommendations, brands need to do better at building 'public relationships' across the board."
"Leger's research has long shown the growing role of relationships in the health of brands, and this correlation is stronger than ever in these days of information overload and quick transactions," said Lisa Covens, Leger's vice president of communications and public affairs. "That is why smart brands are paying close attention to their relationships with their publics — in all dimensions."