Business Services Industry

Research and Markets: The Top 10 UK Personal Loan Advertisers Have Cut Their Total Expenditure by 69% in 2008

Business Wire, May 06, 2009

DUBLIN -- Research and Markets(http://www.researchandmarkets.com/research/1d6f09/brand_values_in_uk) has announced the addition of the "Brand Values in UK Personal Lending" report to their offering.

The financial crisis in the UK has negatively affected many financial institutions' reputations. However, despite the weakened state of the personal lending market, there still exists significant possibilities for banks to improve their brand message. Targeting consumers through The Megatrends framework will help banks improve their brand values through the most cost effective means.

Scope

Analyzes the most up-to-date advertising statistics determining how the industry is responding to the downturn.
Sizes the personal loan market by gross advances, balances outstanding and competitive environment.
Uses The Consumer Megatrends Framework to assess customer needs during this uncertain era.
Discusses ways to improve bank brands within the personal loan market.

Highlights of this title

The top 10 personal loan advertisers have cut their total expenditure by 69% in 2008.

Banks need to focus more on the non-price specific aspects of products and services. During these testing times the onus is less on overall advertising expenditure and more on what a bank can do to improve the position of a borrower.

Customers in financial distress should rely heavily on help and assistance from their banks. This presents an opportunity for banks to rebuild their reputations by catering more for customers worried about their finances.

Key reasons to purchase this title

Benchmark personal loan advertising expenditure against other product lines against major lenders and brokers across the industry.
Relevant and topical analysis to how you can improve brand reputation during the global downturn.
Provides the reader with a comprehensive consumer framework identifying the key attitudes and behaviors of recessionary consumers.

Key Topics Covered:

DATAMONITOR VIEW
CATALYST
SUMMARY
ANALYSIS
The downturn has placed an emphasis on reducing advertising expenditure
The credit crunch has severely affected the personal loan market
Global brand strengths have fallen significantly in light of the worsening financial situation
A combination of changing market dynamics and lower liquidity levels have forced personal loan advertising expenditure downwards
In line with the weakened personal loan market, advertising has fallen across the board
The top 10 personal loan advertisers have cut their total expenditure by 69%
Lenders have been more affected in the secured market.
Only a relatively small number of lenders have exited the unsecured market
The secured market is characterized by only a handful of lenders
Innovative customer targeting will reap significant rewards despite the bleak outlook
To drive brand values at minimal costs banks need to appeal to consumers recessionary mindsets
Following Datamonitors Megatrends framework is vital for improving brand values
Targeting and promoting self-service products will appeal to the Financial Intelligence Complexity
Consumers demand greater control over their financial future
Effective advertising should focus on safety and functionality to lessen consumer worries
Personal loan campaigns should emphasize how credit can improve the short term position of a borrower
Services and products need to satisfy the Authenticity Megatrend
Despite these examples, few banks satisfy the Authenticity Megatrend
Adopting a more friendly advisory and assistance based approach to customers develops better customer relationships
Working with NGOs and charities will help improve reputation and trust
Marketing innovative loans for customers in difficulties will enhance a banks reputation
A more personalized approach to product offerings is a win-win for banks
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