Is it time to refresh your brand?
The world of marketing has seen significant changes in the last decade
The explosion of social media, on-demand access, digital advancements, and technology advancements to name a few. It has become necessary for organizations to adapt their marketing strategies to keep up with the times. In order to remain relevant in the exceedingly competitive market, this is a necessity. Where it was acceptable for financial institutions to remain conservative and traditional in their marketing strategies, new players like Quicken Loans and Rocket Mortgage and the consumer’s desire to access information quickly and conveniently have driven a need to become more agile. Credit unions are beginning to evolve their approach to marketing, and adopting new tactics and technologies to establish a modern presence, however often their brand identities are ignored and left to remain outdated and, at times, counterproductive to other modernization efforts.
Your brand is your identity, how you are perceived in your market. It tells consumers how you want to be viewed. How do you know if your brand could use a face lift?
- Consider the last time you revisited your branding. Refreshing a brand isn’t something that needs to be done frequently, it’s important to remain consistent to maintain awareness in your market. However, if your branding is as old as your charter, it may be time to consider an update. Consider how you would like your brand to be perceived in the market versus the current perception.
- Evaluate your web presence. The first step is having a web presence. In today’s market, if you aren’t online you don’t exist. Consumers are becoming more reliant on mobility and demand convenience and quick response times. If your site isn’t mobile friendly, you might as well not have one, and if the page takes more than a few seconds to load, the member is going to give up and move on to another task. Consider refreshing your web presence with a responsive web design that will provide a sleek, smooth look that can be accessed on any device without compromising the design.
- Review your print and digital advertisements. Proactive marketing strategies like print ads, direct mail pieces, billboards, and radio and television spots are a great way to drive awareness for your brand. However, outdated graphics can have an adverse effect. Make sure your message is modern and in line with the way you would like your brand to be perceived by your market.
- Look around your branch locations. Remove old promotion posters, take-ones, and brochures and replace with new designs. Consider updating the décor or using a fresh coat of paint to brighten the space and refresh the environment. Even adjusting the lighting can provide a more modern feel in the branch.
Refreshing your brand may seem like a daunting task, but it should be a positive exercise to improve the way your credit union is positioned in your market.
Consider modernizing your logo or using brighter colors to achieve a more modern look. You can also add a tagline to convey your refreshed approach, or update your existing tagline.
Refreshing your brand is necessary to adjust your credit union’s perception in your market, but doesn’t have to be a major undertaking. As you evolve your brand identity, make subtle changes along the way to modernize your presence.