On Thursday, October 11, Adrenaline’s CXO, Gina Bleedorn, presented Bank Branding: Don’t Just Be Liked – Be Loved at the Mississippi Bankers Association Communications Conference. The session provided attendees a deep dive into the competitive brand marketplace, particularly among smaller and mid-size financial institutions, and effective building blocks to curate meaningful brand relationships with their consumers. Gina Bleedorn says, “Just like many other bank brands around the country, Mississippi bankers are struggling to develop brands people like. As more national banks leave smaller and midsize markets, regional and community banks have a real opportunity to create connections and thrive.”
Even as recently as a decade ago, banking’s relationship with consumers was based on one-way communication – from bank to consumer – with a transactional and simplistic approach across only one or two consumer touch points. Today, brands are co-created by consumers in a dynamic environment where customers interact across multiple channels regarding a myriad of financial needs. Gina Bleedorn says, “Most people think of banking and finances as chore, but on the flip side, everyone has to do it. If consumers are expecting to not like the interaction, yet your brand has turned their experience into something pleasurable in any way, shape, or form, you've actually exceeded expectations.”
The end result is an uptick in brand advocacy. Since a brand is more than a product and an elevation of experience – everywhere a consumer comes into contact with you – having what was once transactional interaction turn into a more robust, helpful, even pleasurable experience, will create more prospects for deepening brand relationships. Gina Bleedorn says, “So, maybe people don't necessarily like you and they don't expect much from you, that's actually an opportunity. Imagine if they did, if those touch points became pleasurable – or even just tolerable – and you did something beyond what was expected? Whether it's financial help or just making their day brighter, in any way, shape, or form, those are opportunities to get your brand liked and loved.”
To learn more about how financial branding has evolved, contact one of industry experts at firstname.lastname@example.org.