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Hat-trick for first direct as it’s named UK’s most recommended bank

02 Dec 2013

A new report published today (2 December) by one of the world’s top management consultancies has named first direct  as the bank most recommended by UK consumers. 

It completes a hat-trick of major advocacy and service accolades for first direct in recent months, following a top 3 place in both the Siegal+Gale’s Global Brand Simplicity Index and  Nunwood 2013 UK Customer Experience Excellence Index. 

The latest award is from The Boston Consulting Group (BCG), a global management consultancy and one of the world’s leading advisors on business strategy. The award recognises first direct 's “superior ability to attract word-of-mouth recommendation”. 

The results were based on a detailed survey of 32,000 consumers, who were questioned on their purchasing habits and their opinions on leading brands across a range of sectors. 

In addition to beating all the other UK banks surveyed by BCG, first direct  had a higher ‘word-of-mouth’ rating than any bank in the US, Germany, France or Spain.  

Karen Walker, director of service at first direct , said: “Customers have been at the heart of our business from day one, and the quality of our customer service is key to why we achieve so many word-of-mouth recommendations. 

“Our customers are our best advocates. We know that if we maintain our focus on providing the best possible levels of service to all our customers, they will continue to recommend us to their families and friends.” 

BCG unveils its list of most recommended brands in five diverse product categories across five countries in a new report, ‘Fuelling Growth Through Word Of Mouth: Introducing the Brand Advocacy Index’.  

first direct  was one of only 55 brands to earn a place on the list. Other brands recognised include Volkswagen, iPhone, Samsung and Waitrose. 

Each brand achieved its position by being in the top three brands in its respective product category and country, as measured by BCG's Brand Advocacy Index (BAI), which measures word-of-mouth recommendation. The report shows how BAI is linked to growth at those recommended brands. 

“Consumers are positively recommending the most recommended brands to their friends, family, and coworkers—often spontaneously and even when they are not even customers of the brand,” said Pedro Esquivias, a BCG partner and co-author of the report. 

“Their strong financial results show the power of advocacy to drive top-line growth.” 

ends

A copy of the BCG report can be downloaded at www.bcgperspectives.com

For more information please contact Amanda Brown (amanda.brown@firstdirect.com or 0113 276 6700) or Rebecca Hirst  (rrebecca.hirst@firstdirect.com on 0113 276 6899). 

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