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ipswich building society
Brand Perception Survey
About The Client
Ipswich Building Society was founded in 1849 and is based in Ipswich, operating across 13 branches in Suffolk, Essex, and Norfolk. The building society helps members with mortgages and savings and is committed to supporting its local communities.
The company’s mission is to continue “supporting people in our community to buy a home and save for the future, providing carefully crafted products and attentive service.”
Table of Contents
The Research Project
Ipswich Building Society were considering a brand realignment and exploring the implications of a name change. This initiative was influenced by the organisation’s historic identity as the Ipswich and Suffolk Building Society. They suspected that the localised name might act as a barrier for growth, particularly among younger people and those based outside Ipswich. The research aimed to examine how the brand is perceived and to test this theory.
Brand Facts
- Founded in 1849, Ipswich Building Society has been serving the people of Suffolk and surrounding areas for over 170 years.
- As a mutual organisation, it is owned by its members and prioritises people over shareholders, reinvesting profits to benefit customers.
- The Society specialises in mortgages tailored to diverse needs, including self-build, later life, and non-standard income borrowers.
- It also offers a range of savings accounts and financial services designed to support long-term financial wellbeing.
- Ipswich Building Society is known for its manual underwriting approach, enabling greater flexibility and a personal touch in decision-making.
- Deeply rooted in the community, the Society supports local charities, schools, and events through sponsorships and volunteering.
- In 2021, it merged with Suffolk Building Society, combining shared values to strengthen its local impact and member offering.
The Results
The study achieved a significantly higher response rate than anticipated, with 882 completed surveys—more than double the original target of 384. Respondents were grouped into three key categories: existing customers, staff members, and members of the general public. Additional segmentation by age and geographic location enabled a more detailed understanding of perception patterns.
The findings provided Ipswich Building Society with a robust and statistically reliable overview of how the brand is perceived. There were clear differences in perception across age groups and locations. Notably, the name ‘Suffolk’ was generally viewed more favourably than ‘Ipswich’ among respondents.
Research Aims and Objectives
The research aimed to explore the general perception of Ipswich Building Society’s brand. The specific objectives were to investigate public and stakeholders’ associations with the town of Ipswich, to inform a potential rebrand and focus on the meaning and difference between banking and building society.
The Research Challenge
“Our main challenge was to gather insight in face-to-face street poll conditions. Town centres in particular can be problematic fields due to researcher permissions (from centre owners). Added to this is the fact that often people are busy shopping or rushing during their lunch breaks. As always we aim to overcome common challenges with our personable and professional approach. And on this occasion we were helped by Ipswich Building Societies carefully chosen incentive – a packet of Fairfield Farm Crisps for each respondent.”
Dr. Gemma Mackman, Research Director – Mackman Research
The Research Design & Methodology
Mackman Research designed and conducted a bespoke survey, combining both online and in-person data collection. Existing customers and staff received an online survey invitation via email, while members of the public were approached by researchers in six different locations for face-to-face interviews. The survey was structured to uncover word associations and sentiments connected with Ipswich, Suffolk, and the concept of building societies. These responses were analysed and used to understand how the brand’s name may influence perception and future business prospects.
“Ipswich Building Society have been fantastic clients to work with. On this project, Mackman researchers enjoyed getting into the field to gather insight from members of the public. The research findings have provided a clear conclusion and we hope that Ipswich Building Society have found the process useful for their decision-making.”
Dr. Gemma Mackman, Research Director – Mackman Research
Research Outcomes
The results highlighted that the term ‘Ipswich’ was often associated with less favourable perceptions, particularly among younger people and those living outside the immediate area. In contrast, ‘Suffolk’ tended to evoke more positive sentiments, including associations with tradition, community, and trust—qualities that closely reflect the values of Ipswich Building Society.
The final report presented these insights through themed analysis and data visualisation, enabling the organisation to clearly see the impact of brand naming on audience perception. These findings are now supporting Ipswich Building Society’s internal strategic discussions around a potential rebrand and future positioning.
