Today’s brands have to have great benefits, provide value, and most importantly be unique. Considering how crowded the landscape is in any industry these days, it is especially crowded in the financial sector. Other credit unions and other banks offer the same or similar products and services that you do. How can you stand out from the crowd?
Identity
Create a brand identity that is unique and that will resonate with your audience. Define what your brand will stand for, what you are best at, and how you can fill the gaps in your market. Are you really great at helping small businesses? Great, this is an excellent platform you can stand on and build upon. Your brand identity needs to be able to stand up against your competition, as well as stand out from the crowd. If you don’t have a clear understanding of your identity it will be very hard to market yourself to your ideal audience. Know what makes you different and incorporate it into your brand.
Connection
Your brand is the perception of your credit union in the eyes of the communities and members you serve. How your audience perceives your brand is perhaps one of the most important aspects of growing and maintaining your credit union. It is important to have a deep understanding of your audience and to connect with them. Develop a brand voice and tone that speaks directly to your audience. If you can, you should give your audience (your members) something that they can’t get anywhere else.
Value Proposition and Benefits
When marketing your brand, don’t just focus on your products and services. What does your brand do well that others don’t? Focus and double down on your strengths. Other institutions offer the same or similar products and services that you do. Instead, focus on how your products and services can benefit your members and your community. How do you provide value to your members? Address common pain points consumers have with your products and services.
Consistency
Be consistent. I repeat, be consistent. As said earlier your brand mostly relies on the perception your audience has of your brand and credit union. Being consistent in your messaging, positioning, values, and identity will help you establish and develop trust and loyalty. Create a brand guide or style guide that outlines how your brand should be portrayed. Pay attention to the details. Your emails to members, your website, and other forms of communication should all reflect your brand. Consistency also reflects stability. Consumers want to see stability, especially when it comes to choosing a financial institution.
All in all, it is important to stay true to your brand and be as unique as possible. If you have questions about branding, creating value propositions, or other brand elements, we’d love to help. Contact us at connect@epicmc2.com.
