Brands’ Media Reach as Brand Health Metric: Ghanaian Banks Media Reach Ratings Q3, 2021

Brands’ Media Reach as Brand Health Metric: Ghanaian Banks Media Reach Ratings Q3, 2021

Ghanaian Banking Sector Messan Mawugbe (PhD)

Today, banks are operating in a new competitive environment of media fluidity and fleeting news content in tweets, hashtags, videos, images and narratives. As a result of this new challenge, banks’ brand communication managers are poised to be ahead of the brand-content competition, a competition of extensive media coverage, visibility, mentions, and publication reach to consumers.

Undeniably, the media remains a critical brand communication tool in terms of promoting brand reputation, consumer trust and disseminating brands related attributes and issues as a way of maintain difference from other brands. In many instances, brand communication executive pays less attention to the brands reach strategy. A brand reach simply refers to the extent of which targeted potential number of consumers are exposed to a brand’s news or media narrative. Furthermore, brand reach is a consistent scientific measurement of an intended media coverage consumers are directed exposures to a particular brand story.

On the other hand, corporate’s brand health is an aggregation of perceptions, sentiments and brand visibility metrics. Each of these brand metrics contribute significantly to the success, sustainability and brand retentions in any competitive business sector such as banking. Unfortunately, many banking corporates pay less attention to their brand’s media reach or visibility.

Behind every brand-health metric is a signal that points to how healthy a brand is. Competitive corporates are adopting mechanisms to measure brand health through brand’s media reach as a way of establishing the composite health of their brands since a brand’s consistent and effective media reach strategies translates into a positive brand health and visibility share. At the same time, other banking corporates are paying less attention to their brand’s media reach.

The importance of brands media reach in strategic brand health management induced this study on the Ghanaian banks’ brands media reach index. The study analysed 157 banking news stories from online, print, radio and TV mediums. Using quantitative content deconstruction analysis, numerical values were assigned to all symbols of communication related to the 22 banks in the Ghanaian banking sector. In analysis of 7864 news statements yielding 5571 banking sector issues with inter coder validity at 85%, ADB bank emerged as the bank with highest media reach among the Top 10 ratings with ABSA and GCB banks securing the second and Ecobank gaining the third position respectively.

This study is intended to contribute to the Ghanaian banking sector development through the tools of […]

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