Star Ratings = A Familiar Concept

Star ratings are used across an array of industries to identify quality and to distinguish premium products from inferior products. This rating concept is prevalent in many industries where consumers are making purchase decisions about products and services which on the face of it appear very similar. Examples include hotels, restaurants, movies and many of the major online retail comparison sites.

In the financial services industry research shows this concept is also widely accepted. In a recent survey, 58% of consumers stated they would be more likely to buy a financial product with a five star rating:

CANSTAR star ratings = Comprehensive Analysis

CANSTAR undertakes and publishes New Zealand's only truly comprehensive analysis of financial products. The star rating results are driven by an expert team of analysts who use a unique methodology to assign product ratings. Each product will go through a rigorous analysis of its pricing and features and the results will equate to a rating. Only 75% of products analysed will receive a star rating and only 5% of all products analysed will receive the coveted five star rating.

CANSTAR's reputation for analysis has led it to be one of New Zealand's most recognised financial ratings firms.

CANSTAR Star Ratings

1. Improving confidence amongst sales staff

• Provides an independent reliable endorsement
• Supports conversations on product value
• Promotes a culture of product excellence

2. Appealing to prospective clients

• Promotes value not simply price or rate
• Differentiates products from competitors
• Strengthens a product with an excellence endorsement

3. Retaining existing clients

• Reinforces the quality of product offerings
• Increases clients confidence in service
• Supports efforts to increase volume through existing clients

If you are interested in utilising star ratings in marketing please contact us.


Banking Institutions ...