Hamilton helps Santander to ditch UK finance brands

Spanish owner to rebrand Abbey, Alliance & Leicester and Bradford & Bingley.

Santander’s decision to rename all of its UK brands appears well timed as new data reveals that public perception of the brand is currently riding high.

The Spanish banking group announced last week that all Abbey, Alliance & Leicester and Bradford & Bingley savings business and branches will be rebranded and refurbished by the end of 2010.

The decision to rebrand under the Santander name comes as its “Buzz”, YouGov’s measure of whether people have heard negative or positive things about a brand, climbed to a three-month high of 4 last week.

As Santander’s stock rises, perception of some of those to be rebranded is on the slide. Bradford & Bingley’s Buzz fell to -8 last week from a
Abbey, which will be the first to re

brand when its credit cards are renamed this month, saw its Buzz fall to -4 last month from 0 in the middle of May.

Alliance & Leicester, which Santander bought last year in a £1.3bn deal, was the only brand that saw improved Buzz, rising to 2 by the end of last week from 0 at the start of the month.

Santander was quick to stress last week that its three-year campaign starring Lewis Hamilton has been slowly building recognition in the UK, which it says has risen from 20% to 82% over that time.

Will Goodhand, director at Ipsos ASI, says this “slower courtship” approach could prove to be a clever move. “One might also speculate that the gradual approach to rebranding that Santander has been adopting is perhaps consistent with the solidity, safety, soundness and confidence that consumers look for in a bank, especially in these difficult times,” he says.

He adds that research conducted by Ipsos found the financial stability of a bank was the most important factor when choosing a financial services brand, with 89% of consumers citing this as the primary reason behind their decision.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here