Published: April 3, 2012
Length: 134 pages, 50+ charts
Author: Jon Samsel, editor & co-founder
Brands Featured in this Report
Scottrade, TradeKing, TD Ameritrade, ShareBuilder, Zecco, E*TRADE, Charles Schwab, Merrill Edge, OptionsXpress, Firstrade.
Heardable examined numerous brands for our latest online brand health benchmark report, "The Top 10 Leading Discount Brokerage Brands Online." Scottrade was named the most effective brand in the group, scoring higher than all listed competitors, including E*TRADE, Charles Schwab, and ShareBuilder.
Scottrade's brand health score of 654 out of 1,000 possible points beat its nearest competitor, TradeKing, by 10 points, or 1.53%, and surpassed third place TD Ameritrade by 18 points, or 2.75%. The gap between Scottrade and lowest-ranked Firstrade was 137 points, or 20.95%.
So how did Scottrade rise to the position of category leader?
Scottrade was singled out for its strong social media participation and fan base. Investors and traders follow and engage with Scottrade’s product specialists through a number of channels such as Facebook, Twitter and online chat. Scottrade pairs its robust online presence with its network of 505 branch offices – the largest among online brokerage firms – to give its clients the option of learning online or meeting face-to-face with a stock broker.
Other areas of competence include publishing and syndicating content, as well as mobile smartphone optimization. For example, Scottrade clients can access the company's mobile stock trading tools on any web-enabled mobile device or by downloading its mobile trading app. The Scottrade® Mobile App, which was released in August 2011 as the most robust mobile trading app on the market, provides clients with extensive research, technical analysis and real-time streaming quotes in the palm of their hands.
“Today’s investors and traders need more than they did when Scottrade was founded more than 30 years ago,” said Justin Gioia, Scottrade’s director of branding and marketing communication. “To empower investors on their path to financial success, Scottrade is going beyond our trademark $7 value message that we launched in 1998 to now include communication about our growing number of products, tools and support that today’s clients need.”
Top 5 of 10 Discount Brokerage Brands Online, Ranked by Heardable Score (1000 points possible)
1. Scottrade - 654
2. TradeKing - 644
3. TD Ameritrade - 636
4. ShareBuilder - 628
5. Zecco - 620
Read the report to see how the remaining brands ranked: Firstrade, E*TRADE, Charles Schwab, OptionsXpress, and Merrill Edge.
Table of Contents
Social Media Assessment
Content Sharing Assessment
Website Usability Assessment
Top 10 Brands: A Closer Look
Report length: 134 pages
"Scottrade has obviously worked very hard to make its customers feel like they're more than just an account number," said John Sharp, co-founder of Heardable, Inc. "They offer a comprehensive and easy-to-use website, they've refined the user experience for mobile and social media consumption, and they regularly publish and syndicate content across the deep web to expand their brand influence. Hats off to Scottrade management for a job well done."
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