In the recent Financial Brand article “How Branding Pays Off in the Bottom Line and in Tough Times,” Adrenaline’s Chief Brand Officer Juliet D’Ambrosio explored how a bank’s brand can provide a solid foundation for organizations to lean on. Having a strong brand is especially important when the stakes are high, like during the regional banking turbulence that the financial services industry saw earlier in 2023. But while many organizations may understand the relationship between their brand and business value, do they know how their brand’s foundation can guide them through tough times?
While having a strong brand is essential for moments like these, Adrenaline’s recent survey found that many brands may not be ready for prime time. That’s because the vast majority of banks and credit unions we surveyed haven’t touched their brand within the last three years, with 14% not updating their brands for more than a decade – or “when Blackberries were a thing.” Based on the recent article and best practices in the real world, we’ve rounded up some brand fundamentals for banks and credit unions to help ensure they’re ready to meet the moment.
1) Define Your DNA
A best practice for branding in any industry is to be hyperaware of your organization’s core truth. Dig into what’s an essential, embedded and enduring element of a brand and bring that to the forefront.
2) Prioritize Brand Strategy
A strong strategy shines a spotlight on a brand’s story and their core organizational values that will help guide a brand forward.
3) Meet the Moment
Silence is not a strategy for meeting the moment. In tough times, it’s essential to lean on your brand and communicate clearly, often and with appropriate breadth and depth.
4) Tell Your Story
Your story isn’t just about you – it’s about who you want to influence. Storytelling should focus on the relevance between your brand and your audience member’s real lives.
5) Communicate with Purpose
What is your brand telling the marketplace? The best brands match core values to consumer expectations, even as they change.
To learn more about brand fundamentals for your financial institution, or to speak with one of Adrenaline’s bank and credit union experts, contact us today. And be sure to stay tuned in to the Believe in Banking Podcast as it highlights industry news and views for banking leaders.
Adrenaline is an end-to-end brand experience company serving the financial industry. We move brands and businesses ahead by delivering on every aspect of their experience across digital and physical channels, from strategy through implementation. Our multi-disciplinary team works with leadership to advise on purpose, position, culture, and retail growth strategies. We create brands people love and engage audiences from employees to customers with story-led design and insights-driven marketing; and we design and build transformative brand experiences across branch networks, leading the construction and implementation of physical spaces that drive business advantage and make the brand experience real.