Nationwide is top of the financial press charts, while Santander wins the most-improved prize

Looking at latest UK national press coverage (including the Evening Standard) last month, shows that Nationwide Building Society scored the highest in terms of favourable coverage combined with number of mentions. This is according to the latest Presswatch Financial report based on research by Kantar Media. Coverage of the financial products suggests that the way to get the best coverage isn’t by creating puff about your products, but by creating the best financial products in the market.

Financial products providers with best press coverage in March 2012

Source: Presswatch Financial, Kantar Media

Last month, it was Nationwide’s mortgage offerings that helped it to reach top position. Gabriel Dabner, editor of Presswatch Financial, says: “The mutual topped the mortgages table thanks in no small part to its efforts to help first-time buyers who had missed out on the stamp duty holiday. Nationwide also made its mark in the ISA arena with its Smart Junior ISA.” Nationwide’s high score of 378 is an increase of 115 from its previous month’s score of 263.

Santander reached second position in the March chart, and Dabner puts this down to how Santander made sure its ISAs were among the best on the market this season. He quotes Andrew Hagger of the Independent, who wrote on 1 March: “Santander this week blew the competition out of the water in the ISA best-buy tables with three highly competitive offerings … These accounts will go like hot cakes, so don’t hang around too long if you want to bag one.” The bank also made a positive impact with its 123 account. Coverage was so positive for Santander in March that it was the financial institution with the greatest increase in its score, rising to 340 from just 26 in the previous month.

Another bank that should be pleased with its recent press coverage is Halifax. This came third in the chart, and has also improved its score considerably from the month before, with an increase of 158 points. Discussing the Halifax’s performance, Dabner says: “Halifax had a resounding success with its two-pronged attack on the ISA market, centring around its market-leading Junior ISA.” However, Dabner adds that the bank may have performed even better if it were not for its decision to increase the group’s standard variable mortgage rate from 3.5 to 3.99 per cent. 

Methodology
 

All information above is based on findings from the latest Presswatch Financial created by Kantar Media, that each month analyses press coverage given to named company financial products. The scoring system creates a league table of companies whose individual positions reflect both the volume of coverage and whether or not that coverage is favourable.