Battle of the Brands | Round Two
Welcome to The Battle of the Brands: Where Marketing Meets the Real World
Marketing isn’t just about spending big, it’s about spending smart. Some brands turn awareness into action. Others? They just burn budget. Battle of the Brands is here to separate the two.
It’s not about who spends the most or shouts the loudest. It’s about who understands the real game: creating attention that converts into customers. That’s why we’re putting marketing performance on stage—tracking who’s leading, who’s lagging, and who’s actually making an impact.
Powered by our DCMN Brand Tracker, which tracks 400 real consumers in Germany every month across 20 categories, we break down awareness, usage, and actual impact—so brands can stop guessing and start winning.
After tackling crypto giants in Round One, we’re turning our attention to challenger banks. They promised to revolutionise finance with seamless digital experiences and zero physical branches. But are they actually delivering?
In Round Two, we put Revolut, Comdirect, N26, and Vivid to the test. Who’s gaining ground? Who’s just keeping up appearances? And who’s struggling to stay in the fight?
Let’s find out.
Battle of the Brands: Round Two | The Challenger Banks Showdown
The banking industry isn’t what it used to be. Traditional players are still in the game, but challenger banks have spent the last decade positioning themselves as the future of finance. Digital-first, sleek interfaces, zero physical branches, the promise was simple: better, faster, easier banking. But which of these brands are actually winning the battle for attention? And which ones are just another app on the home screen?
Here is Round Two of Battle of the Brands with Revolut, Comdirect, N26, and Vivid under the microscope to see who’s dominating – and who’s just keeping up appearances.
Revolut: The Challenger That Took Over
Revolut didn’t just fight, it dominated! Brand awareness shot up from 20% in January to 35% by December, securing its position as the leader in the challenger bank category. But more importantly? It wasn’t just a PR stunt: brand usage more than doubled, jumping from 4% to 9%.
A significant contributor to this success was Revolut’s “Your Way In” TV campaign, which showcased various users breaking through barriers – literally – to access Revolut’s financial services. The advert featured the track “Excusez Moi” by Sef, adding a catchy and modern vibe to the campaign.
The numbers don’t lie: Revolut’s marketing is working. The bank’s TV campaigns weren’t just flashy, they converted. And with its latest strategic partnerships, it’s clear Revolut isn’t slowing down anytime soon.
- Became the presenting partner of the NBA Paris Game 2024, boosting visibility across Europe.
- Teamed up with Visa to enable real-time cross-border transactions for business customers.
And they put serious firepower behind their marketing. Revolut spent €14.3 million on advertising in 2024, with the majority going into TV and digital channels. The investment worked. This wasn’t just about getting seen, it was about getting used.
By the end of 2024, Revolut boasted 50 million customers worldwide, including 10 million in the UK alone. This growth underscores the effectiveness of Revolut’s marketing strategies and its ability to convert awareness into active usage.
Comdirect: The Brand People Know, But Don’t Choose
Comdirect, a subsidiary of Commerzbank, is in a strange position. Brand awareness remained strong throughout 2024, fluctuating between 32% and 39%, showing that people still know the name. The problem? They just aren’t using it. Brand usage never moved beyond 4-6%.
In an effort to rejuvenate its image and appeal to a younger demographic, Comdirect launched a notable campaign in 2024. Collaborating with Teambürgeramt, they introduced the “BÜRGERAMT Lifestyle Jersey”, a lifestyle jersey promoted through a commercial featuring German rapper Reezy and footballer Achraf Hakimi. The advertisement showcased a secret football match set in the vault of Comdirect’s bank, blending urban culture with banking services.
Despite these creative efforts, the campaign did not significantly impact user engagement. This suggests that while Comdirect’s marketing strategies are innovative, they may not effectively address the core needs or preferences of potential customers. The challenge for Comdirect lies in transforming its brand recognition into active customer engagement by aligning its offerings more closely with consumer expectations.
While Comdirect’s ad spend isn’t as aggressive as Revolut’s, it remains a well-known player in the industry. But recognition alone isn’t enough, people need a reason to switch.
N26: The Bank That Played It Too Safe
Once the poster child for digital banking disruption, N26 has lost its edge. Brand awareness hovered between 28% and 34% throughout the year, but the real problem? Brand usage never cracked 8%. That’s not how you win a category, you need momentum, and N26 just didn’t have it.
It wasn’t for lack of trying. In October 2023, N26 launched its global brand campaign, “This is how I bank”, a polished attempt to showcase its customer-centric approach. The 30-second hero film put digital convenience front and center, reinforcing how N26 empowers users to manage their finances on their own terms. The media mix? YouTube, Instagram, Facebook, TikTok, Twitch, digital TV, digital display, and billboards across major European cities. Sounds promising, but did it land?
The ad spend tells a different story. According to Nielsen, 66.0% of N26’s €5.6 million budget went straight into social media, 30.9% into search, and only 1.1% into television. Desktop took a modest 1.9%, and Ambient Media barely registered at 0.2%.
This is the problem. No big statement. No real-world presence. No knockout punch. A TikTok-heavy campaign might work for hype, but banking isn’t fast fashion! It needs trust, presence, and market penetration. N26 played it safe, but safe doesn’t win battles. If it wants to reclaim its spot as a true challenger, it needs to stop whispering and start shouting.
Vivid: The Challenger That Barely Showed Up
If Comdirect and N26 are struggling to convert attention into action, Vivid has an even bigger problem: It’s barely even in the conversation.
Awareness peaked at 14% before slipping to 11%. Usage stayed stuck between 1-2%. In a category where challenger banks are meant to shake things up, Vivid barely made a ripple.
Also when you look at the numbers, it’s not surprising. According to Nielsen, Vivid’s total ad spend in 2024 was just over €2 million, a fraction of what its competitors put on the table. Of that, 79.0% went into television, 19.3% into social media, and a negligible 0.5% into search. Desktop and other channels barely registered.
A big bet on TV can work, if there’s a strong, memorable campaign to back it up. But where was Vivid’s defining message? Where was the brand moment that made people stop, think, and switch? Without that, it’s no surprise that the investment didn’t translate into action.
Vivid doesn’t just need more spend, it needs a strategy. If it wants to be a serious contender, it can’t afford to stay in the background. Challenger banks win by taking risks, making noise, and grabbing attention. Right now? Vivid is playing way too small.
The Knockout Punch: Brand Usage Matters More Than Awareness
Brand awareness is great. But if people aren’t actually using your service, what’s the point? A digital bank doesn’t win by being recognised, it wins by being part of people’s financial habits. So who actually got people to open accounts and use their services?
Best in Round Two: Revolut! Because Awareness Without Engagement Means Nothing
Revolut wasn’t just the loudest name in the challenger bank fight, it was the most effective. It grew awareness and turned that into action.
50 million global users by 2024. A major European sports partnership. A fintech product that actually delivered. Revolut built momentum and didn’t let up.
For the other challenger banks, the message is clear: brand awareness alone won’t save you.
Missed Round One? We kicked things off with the battle between Etoro, Bitpanda, and Coinbase. Who lead the fight for attention? Read it here: Battle of the Brands – Round One
Next up? Round Three. The battle continues.
