Is it Time to Relook at Your Brand?
If you haven't reevaluated your brand in the last 24 month, it may be time ... and it doesn't have to eat up your budget.
It's no secret that banking consumers today are not the same as they were before the "banking crisis" (enter ominous music here). The truth is that, for whatever reason, national surveys show bank customer satisfaction with larger banks is down (and credit union's is up).
Thanks to the media, consumers as more educated about banking, their perceptions and expectations have changes, and they are more motivated to make a change (
12% fewer customers said that they "definitely will not" switch this year vs. 2007).
You need to make sure your brand still aligns with what consumers know, how they feel, what they expect and what will motivate them to come to you -- all while holding true to your actual identity.
But you won't know what's going on in your market until you ask. I'm not saying that you need to rebrand - but I am saying that you should reevaluate and see if there is any tweaking to do to make you more competitive and a more likely consumer choice.
Take care,Eric
