Today, Vuelio launches the Banking Comms Index as an industry benchmark. Using Vuelio Media Monitoring and Analysis, the Banking Comms Index is a free weekly resource that compares the Share of Voice of the UK’s top retail banks.
Share of Voice has long been used as a key metric in both PR and marketing, with evidence to show that increased Share of Voice, leading to ‘Excess Share of Voice’ – where a brand’s Share of Voice is significantly higher than its market share – can lead to growth.
The Banking Comms Index measures the earned online media coverage of 21 top retail banking brands and selected challenger banks in Britain. The coverage all appears in Tier 1 publications, with a reading list including national news and financial trades.
Barclays has dominated over the last three weeks in top spot, while challengers, including Starling Bank, Monzo and Revolut manage to take a bigger share of voice than more established brands like First Direct and Bank of Scotland.
Updated weekly, the Index will provide an archived comparison, as well as insight into the biggest movers and shakers. The monitoring in Vuelio also allows for further exploration to see how these retail banks compare on key issues in the media, whether that is ESG, financial policy changes or a breaking scandal.
Oliver Grant, senior consultant and financial services specialist at Vuelio, said: ‘We are thrilled to launch the Banking Comms Index that will, week on week, give a snapshot of how these major retail banks are performing in the press. Share of Voice allows brands to benchmark their earned media coverage against the competition in a meaningful way.
‘We will also use our proprietary data to regularly analyse the retail banking sector and see how each organisation tackles the big issues, from the pandemic and Brexit to advances in governance.’