Last month, YouGov BrandIndex’s 2021 Finance Purchase Funnel Rankings highlighted the financial services businesses that are best at turning brand awareness into consideration.
To do that, we looked at the highest Consideration scores among consumers who are aware of each brand over a 12-month period. Among consumer banks this year, Capital One finished third - with data indicating that 13.1% of US adults are aware of the company and would consider them when next in market, giving them a conversion rate of 16% from all those aware of the brand.
Our data also shows that, among those who would consider Capital One, 43% say they are likely to purchase from them when they are next in the market for a consumer bank product or service.
Zooming into the data indicates that Capital One’s audience broadly maps the national average, albeit with some statistically significant differences - 9% of Considerers (compared to 12% of the nation overall) are aged 18-24, 17% are aged 25-34 (vs. 18%), 19% are aged 35-44 (vs. 16%), 15% are aged 45-54 (vs. 17%), and 40% are over 55 (vs. 37%). Splitting the audience further by gender shows an equal proportion on both sides: 50% male vs. 50% female.
It’s also worth noting that Considerers of Capital One outnumber the general population when it comes to insuring everything (67% vs 61%). They also plan on saving more next year (75% vs 69%) and are open to the idea of using digital payment methods – as half of them tell us they use PayPal for mobile payment (50% vs 37%).
Overall, Capital One’s audience is a little older and is concerned about money matters. They are also open to the idea of using digital technology when making payments.
