Way too many banks have spent a lot of money on brand awareness. And yet, can you even point to one customer who said I came to this bank because I just love their brand?
In fact, most money spent on branding has a negative return on investment. Sadly, we’ve all been sold a bill of goods that is not producing. However, there’s something to be said for branding. And that is in the conversation of brand insistence.
In other words, “You’re the only bank I’ll ever need or want,” is what they need to be saying as a result of the experience that you create. That strong bank customer satisfaction truly is your branding.
You can spend all kinds of money talking about logos and colors
Or, quite frankly, I can show you in my masterclass how you can go get that stuff done for probably $500. Because essentially, the companies that are charging you a couple hundred thousand dollars are using people from other countries for $500 to create all that for you. I can show you how to do that, so you don’t need to spend money there.
Where you do need to make your investment, though, is in creating the brandable experience, the experience where all of your community bank customers say, “This is the bank. You have to go there. They’re different. They’re special, they’re my friends—I’m never going to leave this place. I’m sending all my friends, and I’m sending all my family.”
Create your bank differentiation beyond brand awareness
In my upcoming masterclass, I’ll cover some of the elements with you of how to create that kind of differentiation.
- What are the things that you need to look at as you build it?
- How do you build those systems?
- And then how do you make sure that those systems are executed properly and know that they’re actually working and building increasing degrees of brand loyalty? Because saying you’re going to do something and getting it done, often there is an incredible gap there for banks. That gap must be closed.
Decide that this is the year you move from brand awareness to brand insistence. That’s where the magic is for your bank.
– Roxanne Emmerich
Please watch the video above and share it with your exec team and board.
Ready to declare war on being an average bank and move to the top 5%? Register for the Category of One Masterclass: How to create brand insistence instead of brand awareness.