banks trying not to be banks

Bank Branding Challenges

Creating a first choice customer experienceClive Woodger, Chairman, Strategic Consulting Group, London

Presentation Agenda

Branding challenges

Creating a first choice customer experience

International branding strategies

Russian perspective

Employee brand engagement

Branding Challenges

Products and technologies can be copied but yourbrand is your unique property

Recognise that your brand is an important assetUnderstand and realise the full potential of yourbrand equity

Optimise emotional as well as rational appeal to allstakeholders - employees as well as customers

Define:Core ValuesOur ethos, who we are, what we believe inCompetitive DifferenceWhat can make us stand out; what makes us special from thecustomer’s point of viewVisionWhat we want to accomplish, how we want to shapeour futureStrategic PlanHow we will communicate our difference in an inspiring anddistinctive way to achieve our vision

Be true to yourself…match promises with reality

Branding Challenges

Avoid:

Mission statement clichés

Standard generic, feel good lists that say nothing

Unrealistic repositioning exercises

Skin deep cosmetic make overs

Branding Challenges

Creating a first choice customer experienceAchieving this requires much more than just an operational model


Optimising customer engagement across all brandtouchpoints - human, physical and digital

Latest Developments inInternational Branding

Strategies

The message is in the nameInnovative, mobile only USA startup brand founded in 2009.“A new alternative to banking”. “An intermediary between you and your bank”.Recently dropped ‘bank’ from its name.

previous name/identity

The message is in the nameInnovative, mobile only USA startup brand launched January 2013.Memorable strapline reinforces the brand’s positioning.“Rather than partner with an existing banking institution, Green Dot designed Gobankfrom the ground up to be truly mobile-first.”

Innovative, mobile only USA startup brand founded in 2010.Recently dropped ‘bank’ from its name.Provides “mobile money management”,“a unique customer experience interface with atraditional banking organization working in the background.”

The message is in the name


The message is in the nameWith fewer people using paper currency, Australian online lender, Cash Doctors, undertooka complete renaming, rebranding and repositioning exercise in Dec. 2012.Nimble brand communicates both customer benefits & organisational culture.


The message is in the nameTelcom Credit Union (USA) renamed, rebranded, repositioned and relaunched as Vibe inMarch 2013. “Reimagining the way people connect with a bank”


The message is in the nameMacDill Financial Credit Union (USA) renamed, repositioned and relaunched in2007 as Grow. “Our name is a clear statement of what we’re about”


The message is in the nameOne of Alabama’s oldest community banks. “True to you”.

GMAC (General Motors Acceptance Corporation) relaunched under bold newinnovative name and look in 2008 - mobile and online banking only.Quirky, humorous advertising reinforces honest approach.


The message is in the name

The message is in the nameNorthwest Resource Federal Credit Union (USA) rebranded, repositioned andrelaunched as Trailhead in June 2013.Previously one of 9 Oregon Credit Unions with “North West” in their name.Distinctive look and tone of voice communicates “individual expression, casualconfidence and commonsense wisdom”.


Regaining Heritage …250-year-old Lloyds Bank (UK) relaunched in September 2013 as result of TSB sale byparent Group. Return to original name with contemporary look and emphasis onheritage symbol and colour.

previous names/identities

…and reaching out to customersNew brand positioning is “A bank that truly understands life today.”

Brand strapline “reflects and values the financial requirements of its customers”.

previous advertising and straplline

Regaining Heritage - Local BankingTSB brand has been resurrected (September 2013) with a promise to revive communitybanking across the UK and return to "safe, straightforward" banking.

New ad campaign describes history of the brand from 1810

previous names, identities and straplines

Fashion BankingM&S Bank (UK) launched July 2012. Benefits include shopping vouchers,birthday gifts & free instore hot drinks.

Fashion BankingCurrent Virgin Money (UK) "soulful" campaign with retro style illustrations.Lounges, not branches - complimentary coffee, power outlets, TV and iPads forinternet surfing.

Generation Y BankingFRANK (Singapore) “A brand new way to bank”. Launched in 2011. Aimed at youngtech savvy ‘Y Generation’. Has captured over 26% of Singapore’s youth market.

‘Fast food’ style bankingNew UK entrant Metro - challenging existing banks and gaining new customersbut over £100m loss in 3 years. Owner runs Burger King franchise in USA.

Ethical bankingVancity, Vancouver, Canada. “Our vision is to redefine wealth in a way that furthers the financial, social andenvironmental well-being of our members and their communities.”

‘Anti-Banking’Peoples Choice, Australia. Innovative and colourful branch design.“A unique alternative to everyday banking”

‘Café’ Banking

ING (Europe)

Westpac (New Zealand)State Farm (USA)

Expresso bars, sofas, newspapers, chalkboards, chandeliers…

Triumph of design over branding?Skandia Bank (Sweden)“A green house concept, a place whereplants grow and are nurtured.”

Blueshore Financial (Canada)A ‘financial spa’ designed like a ‘highend hotel’

Hi tech with hi touchCommonwealth Bank (Australia)Docked iPods & iPads for exploringmobile banking.Touchscreen terminals with product information.Branch staff have Macbook laptops.

Bank Audi (Lebanon)– ‘Novo’ Kiosks‘Virtual’ smart kiosks in shopping centre locations

Mountain America Credit Union (USA)Has put “technology champions’ in every branchto help customers migrate to online andmobile banking

Hi tech with hi touch

Bank of America (USA)

Dollar Bank (USA)

First Ontario (Canada)

Personal Teller ATM’s with ‘uGenius Technology’ enable customers to interact with a real person viatwo-way video. Personal service with technological efficiency.

SECU (USA)Coastal Credit Union (USA)

Mid Hudson Valley (USA)

Hi tech with hi touchBanks are integrating ideas found on iOS devices and social media sites - icons, widgets andapps. Infographics are becoming the new norm.

Overview of digital banking app identitiesDigital Banking…app appeal.Touchpoint design challenge

RussianPerspective

Russian perspective

• 77% of Russians use banking services

• 32% use mobile phones to control their finances

• Only 17% use internet banking mostly due to security concerns

Russian PerspectiveRussian Perception of a Perfect Bank* %

Quick and efficient service 45

Well known 39

Has State support 38

Professional staff 32

Modern and hi tech 25

Convenient (location, opening hours) 23

Wide branch network 22

User-friendly website and online services 19

*According to the National Agency for financial research

Globex Case Study: Brand Strategy Exploration

Globex Case Study: Brand Advertising

Advertising to Consumers

Globex Case Study: Brand AdvertisingAdvertising to Small Businesses

Moskommertsbank Case Study: Brand Logo

Moskommertsbank Case Study: Branch Design

Moskommertsbank Case Study

Moskommertsbank Case Study: Interior

Moskommertsbank Case Study: Brand Logo

Employee brand engagement


Brand synergy = optimum customer engagement acrossall brands touchpoints - human, physical and digital

SCG London 8 Plato Place72-74 St Dionis RoadLondonSW6 4TU+44 (0) 20 7371 7522

Thank You!

banks trying not to be banks

Economy & Finance