What great financial institution brands do

Every credit union and bank wants a great brand. Not a mediocre brand. Not an average brand. A great brand. Many strategic plans and initiatives at banks and credit unions focus on branding. For a financial institution to truly succeed in today’s hypercompetitive marketplace it must develop a differentiated brand.

But what do great brands do? That is a question Denise Lee Yohn strives to answer in her book by the same name (What Great Brands Do). The book gives seven brand-building principles for any company to separate itself from the rest. For banks and credit unions (with competition on every corner), that separation strategy is more important than ever.

Below are four of the seven principles from the book and how we can apply them in the financial services world For the remaining three, be sure to pick up a copy of What Great Brands Do (it’s a wonderful read full of ideas).

(1) Great brands start inside

“Your brand can’t just be a promise; it must be a promise delivered,” Yohn says. She explains the “head + heart + hands and feet” dilemma many organizations face. In other words, for your employees to deliver on your brand promise, they need to know your values in their heads, feel inspired by them in their hearts and then put them into action with their hands and feet.

continue reading »