Bank advertising misses the mark
(19 November 2009 – Australia) Bank advertising missed the mark last month, with a significant jump in the number of small businesses unable to recall any advertising, according to the latest East & Partners’ Business Banking Sentiment Index (BBSI).
In the month of October, 5.4 percent of businesses with turnover ranging from $1 million to $100 million annually were unable to recall any advertising at all over the entire month of October, up substantially from just 0.8 percent the month before.
While all mid to large businesses were able to recall advertising during October, advertising did not stick with Micro Businesses, with a substantial 12.6 percent unable to recall any advertising at all.
"Despite a consistent approach to advertising by banks in Australia, advertising is well off the business radar this month", East & Partners’ financial markets analyst, Peter Drennan said.
"Clearly, smaller businesses have their minds on the basics, including basic operations and growth. This month, any advertising that was out there failed to register for an unusually high number of small businesses", Mr Drennan added.
Advertising is a key measure in East & Partners’ Business Banking Sentiment Index. The overall sentiment index is an aggregated rating metric comprising four different measures of customer sentiment – Empathy, Satisfaction, Loyalty and Advocacy.
Each month, East & Partners’ research team conducts telephone interviews with a sample of 750 businesses nationally, providing an in depth study of businesses in the A$1 to 5 million, $5 to 20 million and $20 to 100 million turnover segments across Australia.
While all mid to large businesses were able to recall advertising during October, advertising did not stick with Micro Businesses, with a substantial 12.6 percent unable to recall any advertising at all.
"Despite a consistent approach to advertising by banks in Australia, advertising is well off the business radar this month", East & Partners’ financial markets analyst, Peter Drennan said.
"Clearly, smaller businesses have their minds on the basics, including basic operations and growth. This month, any advertising that was out there failed to register for an unusually high number of small businesses", Mr Drennan added.
Advertising is a key measure in East & Partners’ Business Banking Sentiment Index. The overall sentiment index is an aggregated rating metric comprising four different measures of customer sentiment – Empathy, Satisfaction, Loyalty and Advocacy.
Each month, East & Partners’ research team conducts telephone interviews with a sample of 750 businesses nationally, providing an in depth study of businesses in the A$1 to 5 million, $5 to 20 million and $20 to 100 million turnover segments across Australia.
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