I love it when they “get it!”
Our industry is in a critical time. With changes in banking, nothing is off limits any more:
- Stricter regulations
- Expanding competitive channels
- Technology changing at warp speed
- Consumers changing the way they, well, “consume”
- People communicate and learn in new ways
We met, last week, with an institution that understands just that. Anytime we get a call to discuss branding, we need to first understand the caller’s definition of the word. Are they looking to simply change their name and logo, or do they REALLY want to rebrand?
After meeting with these folks, they get it!
“We know that everything needs to change … nothing is off limits.”
What’s in a Name?
We have crafted the brands for many credit unions and banks from all over the country, but we’ve only changed the name of about 2. In fact, we rarely recommend trashing years, or decades of awareness with a rename, unless:
- There is a negative perception of the name in the marketplace. We sometimes see this with credit unions who are still named after their core SEG – usually a company who has no corporate affiliation with the CU, but has enormous impact over the brand.
- The name is limiting. A “Teachers” Credit Union with a community charter, for instance. Or a community bank named after a small town long before they expanded into several new markets.
It’s a Cultural Thing
The brand is not simply your name and logo, but EVERY aspect of the customer/member experience. It’s the way someone feels when they walk into your front door … more importantly, how they feel when they walk out.
The brand isn’t a snappy tag line or a great color palette, it’s emotion. It’s touchy feely. It’s a cultural thing.
Extreme Makeover
In our meeting last week, the CEO got it. He knew that everything is changing … so everything had to change.
They DO need a name change. They DO have a perception issue. They DO need to do a better job at the point of sale. They DO need to update the look of their branches. They DO need to define and better understand who they are and where they’re going. And we can help!
For more ramblings on branding, check out these links:
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We bring these marketing philosophies to community banks and credit unions nationwide, and would love to bring them to your institution too. Contact us to see how.
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MarketMatch is a marketing firm, dedicated to the credit union and community banking community. We utilize knowledge-based strategies to help you FOCUS on the right story that will generate the greatest MOMENTUM and prove the best RESULTS with our written ROI Guarantee.
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