Magnetism.
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LEADING WITH ETHICS
The Co-operative Bank have made a conscious effort to build brand magnetism by leading with an ethics based strategy. The goal? To be a different kind of retail bank, one which prioritises campaigning on ethical issues and values aligned with the Co-operative brand to connect deeper with customers.
Previous R&D from Motif has highlighted the growing importance of Ethics and Sustainability in growing brand magnetism and loyalty. Many brands are increasingly promoting value based strategies to win over new customers and increase spend amongst existing buyers. But how can brands be authentic in this space? How can brands successfully connect with customers in a way that creates a set of shared values and deeper relationships? What impact does building better relationships with customers through strong brand magnetism have on future behaviour and financial performance?
In this podcast episode, we speak to Maria Cearns, Managing Director Of Current Accounts at The Co-operative Bank. The Co-operative Bank is the only UK high street bank with a customer-led Ethical Policy which is incorporated into the Bank’s constitution. Maria talks more about the Bank’s Ethical policy and the way that brand magnetism is actively promoted to connect better with customers and meet their growing and changing expectations.