Brand advocacy: it's hard won, easily lost and the goal of any consumer-facing brand. And, according to YouGov, online banking brand Monzo has buckets of it, scoring more highly than any other brand in its annual Brand Advocacy Rankings.
According to YouGov, which polled consumer attitudes to 1,500 brands, people are more likely to recommend Monzo than any other brand in the UK. Consumers scored the brand highly, giving it a positive rating of 85 and elevating it to pole position in the top 10 brands identified by the study.
Also in financial technology, TransferWise secured second spot in the 2019 rankings. The money-transfer service, which came top last year, scored 77 in 2019. TransferWise was joined in this year's list by brands including smartphone maker OnePlus and holiday booking site Secret Escapes.
"This year’s rankings show that fintech is here to stay, with the first and second brands most recommended by Brits both from this industry," Amelia Brophy, head of data products at YouGov, said.
"Monzo is new to our rankings, however has shot straight to the top, knocking last year’s leader TransferWise down to second. YouGov data shows that some 3% of the nation now have a Monzo account and a third (34%) have heard of the app-only bank. New tech is always being invented; however, only brands which are truly useful and that meet customer needs will stay."
Monzo, famed for its bright coral-coloured cards, launched its first TV ad campaign in May and subsequently experienced a surge in new sign-ups.
This was despite difficulties with its attempts to launch a premium product called Monzo Plus, which it ditched five months later after admitting in a blog post that things didn't go to plan.
YouGov Brand Advocacy Rankings
|6||Universal Orlando Resort||71.3|