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Scottrade leads discount brokerage perception pack

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US
Thu, 06/06/2013 - 12:24
By: 
Ted Marzilli
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E*TRADE has enjoyed positive perception with its long-time series of talking baby ads, especially benefiting from an annual Super Bowl broadcast boost. But when measuring discount brokerages by consumer satisfaction, Scottrade leads the pack while E*TRADE comes in fourth.

While Scottrade has remained ahead of its competitors in satisfaction – coming in with double the score of E*TRADE – it climbed past competitors Charles Schwab and TD Ameritrade since early March in Buzz to place right behind E*TRADE.

E*TRADE’s Buzz pattern this year has been a three month positive ride, likely fueled by a series of new talking baby ads launched during Super Bowl.

While irreverent humor seems to have worked quite well for E*TRADE, Scottrade has gone for a more nuts and bolts approach, promotinga distinct technical edge. For example, its “Every minute” spot highlighted its global mobile app and free streaming quotes. Their recent ad on the PGA golf broadcasts focused on their Smart Tech tools to easily understand trades and individual portfolios.

Charles Schwab, which practically created the discount brokerage category, received much better consumer satisfaction grades than Buzz, coming in a neck and neck tie for second place with TD Ameritrade.

Charles Schwab, E*TRADE, Scottrade and TD Ameritrade were measured with two of YouGov BrandIndex’s scores: Buzz and Satisfaction. Buzz asked respondents “If you've heard anything about the brand in the last two weeks, through advertising, news or word of mouth, was it positive or negative?” and Satisfaction, asked former or current customers of the brand: “Are you a satisfied customer?”

YouGov BrandIndex interviews 5,000 people each weekday from a representative US population sample, more than 1.2 million interviews per year. Respondents are drawn from an online panel of more than 1.5m individuals.

Buzz for E*TRADE, Scottrade and TD Ameritrade January 1 2013 to June 4 2013
Buzz for E*TRADE, Scottrade and TD Ameritrade January 1 2013 to June 4 2013
Satisfaction for E*TRADE, Scottrade and TD Ameritrade January 1 2013 to June 4 2013
Satisfaction for E*TRADE, Scottrade and TD Ameritrade January 1 2013 to June 4 2
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