While the implementation phase could be the most complicated part of the rebranding process, it also offers great opportunities. Some of them your bank may not have even considered when it made the decision to rebrand.
Act like a brand and not a bank in finding your brand message. Take advantage of the channels available to your content. Take some compliance-approved risks to set yourself apart from that homogeneous First Community State Trust Bank on the nearest street corner.
Washington Federal — a $16.4 billion regional institution based in Seattle — had a problem: many in the general public didn’t realize exactly what it did.
A look at naming considerations and other key elements that banks have employed to forge a strategy for rebranding.
Just as the aim of rebranding is to express a bank’s unique positioning, each bank will have its own approach to selecting a partner. Still, there are some broad similarities.
By choosing to focus on your bank’s identity, you set yourself apart and become more visible and credible within the financial industry.
“There are so many ways we can bring banking to people,” says Ryan James, president and CEO of Surety Bank in Deland, Fla. “Community is not bound by geography. I look at community as shared interest.”
Ryan James reflects on how Surety Bank supported its customers through the financial crisis and how he’s positioning the 93-year-old institution for the next 90 years.
While it’s nothing to be lightly entered into, rebranding isn’t n a process to avoid, either. But it does require the full support and commitment of leadership.