COMCON’s Diagnosis: Banks

As the results of our survey show, the most well-known bank among Muscovites is Sberbank (with the maximal value for the index of brand awareness - 99%). Next are Alfa-Bank and Bank of Moscow (94% and 91%, respectively). The next group consists of Russkiy Standart (87%) and Vnesheconombank (85%). Finally, Rosbank (57%) and Raifeissenbank (43%) are well behind.

On the next step - familiarity with the brand - Sberbank again has the most solid position. 81% of Muscovites have a good knowledge of this organization. Thus, Sberbank`s conversion coefficient is 81% (this is calculated as the percent of the previous index, and is shown to the side, between platforms). For Russkiy Standart, the conversion coefficient is 42%, with Raifeissenbank next with 35%. Alfa-Bank and Bank of Moscow have identical conversion coefficients (25%). Next is Vnesheconombank (16%), and Rosbank occupies last place with 14%.

What do these data tell us? First of all, that brand knowledge and brand familiarity do not always go hand in hand. Whereas Russkiy Standart is less well-known among Muscovites, those who have heard of it know quite a lot about it. Consumers` knowledge about Alpha-Bank is more superficial.

The next step is preference. Again, Sberbank is the undisputed leader in absolute terms. 37% percent of Muscovites prefer to use the services of this bank. Sberbank also has a high conversion coefficient at this step - 46%. Thus, almost half of those who know Sberbank well prefer to use its services. However, here Sberbank gives up its leading position to Raifeissenbank: the latter`s conversion coefficient is considerably higher - 55%. This indicates that the Russian affiliate of the Austrian bank has much more loyal users than the local bank with more than 100 years of history.

It is also worth drawing attention to the conversion coefficient of Bank of Moscow - 31%. Other brands have more modest figures.
The final step on the pyramid shows the ratio between preference and loyalty. Here, there are several brands ahead of Sberbank. Raifeissenbank again occupies first position (43%), with Russkiy Standart in second (40%). Sberbank shares third place with Bank of Moscow (37%), with Alfa-Bank and Rosbank slightly behind. The clear outsider is Vnesheconombank, which has very few loyal customers, less than 1%.

What conclusions can be drawn from these data? Clearly, as a result of historical circumstances, Sberbank is currently the most popular bank brand, which explains its range of competitive advantages. But in terms of brand health, it nevertheless lags behind Raifeissenbank. We can suggest that if the marketing team at Raifeissenbank were to take measures to increase knowledge of their brand among Muscovites, this would lead to a significant growth in the number of consumers with positive attitudes to this brand, those who prefer it to others, and most importantly, those who consider it their favorite brand.

On the whole, the main weakness of the non-governmental banks is perhaps the low degree of consumer preference for them. This can be seen from the appearance of the pyramids. The third platform is the narrowest of all, disrupting the overall harmony.

"Brand health" pyramids