Top 3 Takeaways from our Financial Brand Communication Webinar
AUGUST 2, 2012:
Emily Kiryluik, Marketing Coordinator
Branding Marketing Strategy
Last week a team of BlueSpire marketing experts sat down on a panel with our client, Kathy Scarborough of Navigator Credit Union to talk brand communication for financial institutions. The conversation covered a variety of hot topics in brand communication for financial services marketers. Here are 3 simple takeaways as well as the video of our webinar for you to enjoy at your convenience.
How do you know when it's time for your company to rebrand?
Two key signs you need to rebrand (or at least refresh) are when your ads feel stale or when your name is limiting your growth. Without a doubt, the history of your bank or credit union is what has made it the successful institution it is today. That said, financial institutions oftentimes become more diverse and thus need a name that doesn't limit member or customer acquisition. Also, if the message you're sending is too similar to the message of your competitors, turn it in to an opportunity to set yourself apart.
How do you approach executives with the idea of a rebrand?
When presenting the idea of a rebrand to your board or other senior level executives, always remember data is key. Facts don’t lie. If something isn't working for your financial institution, it's time to implement change. This is your institution's opportunity to get back out into the community you serve and tell your story and tell it in a different way to appeal to a bigger audience.
Also, be forthcoming and do your homework when it comes to potential expenses and timelines. From high-level research down to micro-level elements like letterhead, make sure you create accurate expectations.
We've been approved for a rebrand, what next?
Start researching potential partners if you haven’t already and consider creating a brand committee. It's important to have an internal committee so you can get feedback and build a team of brand champions.
Remember, a rebrand doesn't have to be a complete overhaul right away. Start small if you're unsure of the route you want to take; change your key messages or focus on specific products or marketing channels you can impact.
Watch the webinar from your desk and let us know what you think. Feel free to drop a comment or question below or email us
. We’d love to hear from you!