Robert Powell reveals the brands that you trust the most...
What do Starbucks, New Labour, Nike and Tiger Woods all have in common?
The answer is they are all brands. Although you could certainly argue that, in the long run, some are more successful brands than others.
So what exactly makes a successful brand? Along with a hefty advertising budget, providing a high quality product or service is obviously essential. Businesses aim to establish a high level of trust with you, the customer, so that when a friend or family member asks about your new bank account, TV or even car insurer, your answer is always the same... “I recommend it”.
But which brands are the most recommended? Well, that’s exactly what Sametrix have been looking into by conducting a survey of over 6,800 consumers from the UK and a further 9,000 from the rest of Europe.
Here’s what they found...
Banking
For the second year in a row, First Direct has topped the poll for the banking sector. The bank was well above the average rating of 0% (meaning that the average UK bank has as many detractors as it has promoters), storming to victory with a score of 61%.
First Direct is also a bit of a favourite here at lovemoney.com – we even went as far to describe its 1st account as the sexiest bank account in Britain last year! The account offers an interest free £250 overdraft as well as £100 cashback when you switch to First Direct. Although it’s worth noting that you will need to pay in £1,500 per month to be eligible for the deal. But if this isn’t for you, don’t worry; here are a few more top current accounts from the banks that trailed behind First Direct in the Sametrix survey...
Account |
Interest Rate |
Overdraft |
Need to know |
0% (£5 per month casback) |
£1 per day up to £2.5K £2 per day over £2.5K |
Must pay in £1,000 each month |
|
Up to 3.93% |
£10 buffer, 19.3% + £5 per month after that |
Tiered interest rates, must pay in £1,000 each month |
|
0% |
18.9% |
Free travel insurance |
|
0% |
19.89% |
2% cashback up to £125 on certain purchases for 6 months (must pay in £1,000 for this) |
|
5.0% (for 12 months on balance up to £2.5K) |
0% for 12 months |
Must pay in £1,000 per months and switch two direct debits or standing orders |
Car Insurance
Sametrix found that Saga was the car insurance provider with the greatest customer satisfaction. And looking at another survey that we carried out, the insurer is a winner on the price front as well. lovemoney.com readers voted Saga as the third best value car insurer, behind Elephant in second place and Swiftcover in first.
Car insurance has been a hot topic recently, following the ECJ ruling banning insurers from offering women drivers discounted rates. Bad news for young female drivers who are already suffering – along with everyone else – from record high cover rates.
Robert Powell hits the streets to find out what you know about car insurance
In addition to this, a new government bill that came into force last week has made it illegal to own an uninsured car, even if you’re not driving it. So if you have an old, uninsured vehicle lingering around, you’ll need to either declare it off the road or insure it by 20th June.
Head to our car insurance centre to get a quote quickly and easily.
Utilities
Emerging from a year characterised by rate hikes and dirty scams, perhaps it’s no surprise that the utility companies didn’t score well in Sametrix’s survey. The average for the sector was a score of -35% (where 0% is an equal number of recommendations and condemnations for a company) showing a considerable lack of trust in the energy industry.
Sametrix must have also conducted their survey a little while ago, as the top scorer in the sector was named as Scottish and Southern Energy. Yes, that’s the same Scottish and Southern Energy who earlier this month became the first ever energy firm from the ‘big six’ to be prosecuted for the use of dishonest sales techniques. The pollsters obviously didn’t speak to the scammed customers!
Home Insurance
Scores for home insurers also showed considerable room for improvement in the sector, with an average rating of -20%. Churchill came top in the sector but still had more detractors than promoters with a score of -8%.
Summer is a vital time to get on top of your home insurance policy and update it if necessary, as chances are you’ll be leaving more of your items outside. Ask yourself, have you got adequate cover for the expensive new BBQ that sits in the back garden all day and night? Or the patio furniture? Or the kids’ bikes? As we reported last year, many policies only offer £1,000 of protection for items left outside of the house. So it’s definitely worth checking up on your current cover and updating it if necessary.
Robert Powell hits the streets to dispel these home insurance myths
You can visit our home insurance centre and get an instant quote.
Internet
Sametrix named Sky as the most recommended internet provider with a score of 14%, although Virgin Media was just one point behind.
And if further research into regional satisfaction with broadband speeds is to be believed, it’s the web surfers in Gwent, Wales who get their connection through Sky who are the happiest net-users in the country!
As well as looking at internet providers, Satmetrix also asked about computer hardware, and it was Apple that came out top with a whopping 69% rating; more than double the industry average!
Mobile Phones
Apple also claimed the top spot in the mobile phone sector for its iPhone handset. Despite the initial reception issues experienced by the fourth issue of the smartphone, consumers gave Apple a further landslide victory with a rating of 69%.
Televisions
Not that you should be inside watching your TV at all when the weather is as nice as it has been recently, but if you are planning on picking up a new box then it’s Samsung that has been named the best television brand for customer service, closely followed by Sony.
Your favourite brands
What are the brands you trust the most?
Let us know in the comment box below.
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