Thursday, June 10, 2021 – In the recent Financial Brand article on branch rebranding following mergers and acquisitions, Gina Bleedorn and Frank Beardsworth discuss all of the elements – from costs, culture change, and consistency – to make the branch network align with the new brand. Even in an era when transactions are migrating digitally, the branch channel remains critical for acquisition, interaction, consultation, and some forms of transactions.
Helping guide consultative selling, the branch sets the stage for the interactions that take place inside. “You should not underestimate the importance of your branch experience today even as transactions migrate out,” according to Gina Bleedorn, Chief Experience Officer at Adrenaline. The signage outside is just the tip of the iceberg, though. The inside elements are what will drive the experiences that create deeper relationships, and it’s those numerous components inside that make it complex.
Rebranding the branch channel is further complicated by branches that were already highly variable before the merger even happened. “It doesn’t help to put a new program in place in a very tired and dingy looking branch,” according to Frank Beardsworth, Managing Director at Adrenaline. He says that local market analytics will drive investment decisions putting more resources into branches that have greater business potential.
The article outlines three key principles that define branch rebranding:
1) How Much Are We Willing to Invest?
2) Follow an Outside-Inside Strategy
3) Get Everybody Onboard
An effective branch rebranding requires an outside-inside strategy. On the outside signage draws people inside. “Your branch exterior is your beacon. It’s your advertising. It’s your face forward to the community and it is your reason to attract anyone,” Gina says. Inside the branch is the locus of engagement where banks create connections. “[Y]our interior is your experience. That’s where your bankers are actually interacting with people.”
For more information on branch rebranding following M&A, stay tuned to Adrenaline’s Perspective in the coming weeks where we take a deeper dive into the concepts in the Financial Brand article and discuss a powerful real-time way of communicating and monitoring the myriad elements inside a branch rebrand. For all of Gina and Frank’s insights and a powerful example from Adrenaline’s client First Horizon, see the full article Avoiding Branch Rebranding Headaches in Mergers and Acquisitions.
The Financial Brand is a digital publication covering marketing and strategy in the financial services industry. A resource for banking executives, the outlet focuses on issues vital to retail banks and credit unions. To learn more about creating a holistic strategy for branch network rebrands following M&A, contact our financial services experts at firstname.lastname@example.org.
Adrenaline is an experience design agency that creates and implements end-to-end branded experiences through creative and environmental design. We enhance our clients’ customer experiences across digital and physical channels, from their branding and advertising to design and technology in their spaces. After transforming an organization’s brand, Adrenaline extends it across all touchpoints — from employees to the market to in-store environments. And, we focus on serving industries that sell human experiences including financial, healthcare, sports and entertainment.