Reflection - This was our first class back which was about understanding what makes up a brand. A brand is what is used to grow a company and what they are known for with the emotional connection that they established with the customer. It's an interesting way of looking at a company breaking it down to what makes it successful. What each product is trying to tell you. The values of a company are who they are, it is what is used as a guide for the company to work towards as it's their principles and are what the employees should refer back onto.
Relaxed or intense and professional or casual (this will need to be considered with the bank project and all projects I will work on in the future as to whether it will make it successful or not) This is also viewed by the language that the company uses which I think is very fascinating how is very quickly changes how we view something.
This can be seen in Apple as a company and is what makes them very successful. Their 7 brand values are Accessibility, ‘Technology is most powerful when everyone can make their mark.’, Education ‘Education is the great equalizer and a powerful source of opportunity for all.’, Environment ‘Our goal is to leave the planet better than we found it.’, Inclusion and Diversity ‘We’re committed to making Apple more inclusive and the world more just.’, Privacy ‘We design Apple products to protect your privacy and give you control over your information.’, Racial Equity and Justice Initiative ‘this is a long-term effort to help ensure more positive outcomes for communities of color.’, and Supplier Responsibility ‘We believe in a safe, respectful, and supportive workplace for everyone.’
This shows them as a very modern brand that is dedicated to improving itself, the world, and the lives of its customers, now only currently but long-term.
https://www.brandstrategysarah.com/blog/Apple-brand-strategy#:~:text=Our goal is to leave the planet better than we found it.&text=We're committed to making,and the world more just.&text=We design Apple products to,you control over your information.&text=This is a long-term,outcomes for communities of color.
I’ve also added a link to an article from Nielsen Norman about open vs closed questions
We explored in class the words we have associated with large companies and the values we believe they are expressing. This was an interesting way of understanding branding, and the power the emotional relationship can have on us.
I did a quick mind map of the values I think are important in a banking app. The main 5 are safe, easy, accessible, honest, and convenient.
After completing some research I completed some surveys for other classmates, who all had a different range of questions. Interesting questions others asked were how much cash usage, a time you had an issue with an online app, and which feature is most valuable to you when considering a bank. The last question was from Clodagh in my class, and I liked the question, it showed the priorities of those in the age demographic so I included a very similar question based on her question. Here are the questions I asked in my own survey.
Age with options 16-18, 19-21, and 22-25. Everyone who filled out the survey was in the 19 to 21 range. Which bank are you with? (I listed some of what I believe to be the most popular banks and other options) the results are interesting with 60% being Santander, and 4 different ones being 10% Chase, Barclays, Bank of Ireland, and Nationwide. This might be because Santander is one of the banks most popular with students, as their student deals are considered to be one of the best with. Santander's 1|2|3 Student Current Account offers interest of up to 3%, a free 4-year 16-25 Railcard, and is once again set to be the most popular UK student account 2. The account also offers an interest-free and fee-free arranged overdraft up to a maximum of £1,500 in the first three years of study, £1,800 in year four, and up to £2,000 in year five.
What feature of mobile banking is most important to you? Ethical Banking, Security, Accessing your balance, Money management, Saving options, and Transferring and Depositing money were my options. I thought that these were really eye-opening with 40% just to view your balance (this shows that people just want a straightforward app), 30% was the ability to transfer and deposit money, 20% Security, and 10% money management.
Are you using any other mobile banking? No 40% and 60% yes. With the follow-up question. If yes, which other mobile banking apps are you using? 4 are using Revolut, 1 Monzo, and 1 HSBC.
Dislikes about your mobile banking app? 7 had no issues with the app, the layout seems to be an issue for one with the accessibility not being great, another with no money management options, and the last is an issue more with the running of the app with the security feature.
Everyone agrees that online banking is easier more efficient, accessible, and travel free.
After looking at the results I looked into the Santander and Revolut as they seem to be very popular amongst the 19 to 21 age group.