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Brand Image and Net Promoter Score: A Repeated Cross-Sectional Study in the Banking Sector

Author

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  • Thorhallur Gudlaugsson

    (Department of Business Administration, School of Social Sciences, Gimli Sæmundargata, University of Iceland, 102 Reykjavík, Iceland)

  • Unnar Theodorsson

    (Department of Business Administration, School of Social Sciences, Gimli Sæmundargata, University of Iceland, 102 Reykjavík, Iceland)

Abstract

This study explores the link between brand image and Net Promoter Score (NPS) in Iceland’s banking sector using data from three survey waves (2021, 2023, and 2025). While NPS is widely used to track customer loyalty, its relationship with brand image, especially in financial services, remains unclear. Drawing on repeated cross-sectional data ( n = 1504), we examine how trust, corporate social responsibility, customer satisfaction, and perceived corruption relate to NPS across three major banks. Results show a consistently strong positive correlation ( r > 0.5), with Arion Bank customers showing the highest association ( r = 0.68). This suggests that customers with a positive image of the bank are far more likely to recommend it. The findings offer both theoretical and practical value: they reinforce the role of brand image in driving customer advocacy and support a more contextualized use of NPS in brand strategy and customer experience management.

Suggested Citation

  • Thorhallur Gudlaugsson & Unnar Theodorsson, 2025. "Brand Image and Net Promoter Score: A Repeated Cross-Sectional Study in the Banking Sector," Administrative Sciences, MDPI, vol. 15(7), pages 1-16, June.
    • Handle: RePEc:gam:jadmsc:v:15:y:2025:i:7:p:237-:d:1683276
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    References listed on IDEAS

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    1. de Haan, Evert & Verhoef, Peter C. & Wiesel, Thorsten, 2015. "The predictive ability of different customer feedback metrics for retention," International Journal of Research in Marketing, Elsevier, vol. 32(2), pages 195-206.
    2. Harrigan, Paul & Evers, Uwana & Miles, Morgan P. & Daly, Tim, 2018. "Customer engagement and the relationship between involvement, engagement, self-brand connection and brand usage intent," Journal of Business Research, Elsevier, vol. 88(C), pages 388-396.
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