When you look up the definition of the word “BRAND” you get a bunch of different results. Essentially a brand is something – a mark, name, symbol, or term – which can distinguish one seller’s product or service, from those of another. Branding began as a way to tell one farmer’s cattle from the others, but it was quickly picked up by many in the marketing world as a way to set their business apart from the others. Even though this is a somewhat simple concept, it is amazing how many people get it wrong.
From a financial institutions perspective, it is very hard to properly brand yourself. This is simply because when you ask someone to describe a bank, words such as greedy, boring, and uptight are thrown around. The reality of it however, is the fact that not a lot of people truly have an understanding of what banks do.
In order to properly get your “brand personality” established, it is very important to actually understand what you want your business to be known for. Unfortunately, there is a lot more to it than just deciding what type of brand you want to have. There is a great article I recently came across on The Financial Brand’s website that takes the time to discuss this issue.
In the article it defines brand personality as “a set of human characteristics associated with the name of a product, service or company”. From that definition, it was made clear to me that in order to properly identify your brand, you first have to be able to identify yourself. In the article it gives 7 different exercises to properly recognize the organizations personality. Once there is an overall understanding of that personality, it becomes a lot easier to try and shape your brand. Below are the 7 different exercises recommended in the article.
- The Car Analogy
- Celebrity Analogy
- Animal Analogy
- Ideal Spokesperson
- Personification Exercise
- Exploring Adjectives
It is so important to understand your branch’s brand because of the fact it deals with how people feel. In these tough economic times, overall customer experience is what will determine your amount of success. Times and technology may be changing, but one thing that will always hold true is the importance of customer relationships, and the way your customers views you.