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Financial Branding Strategies: Consistency is Key
Branding strategies are an important part of doing business. For many organizations, devising and executing strategic brand-building through messaging and marketing campaigns is an ongoing effort. This continuous application is especially true for those in the financial services industry.
Financial services need effective financial brand strategies. Having a strong brand should be a priority for growth marketers, CMOs, and financial marketing managers. By considering how their financial branding differentiates them from their competitors, organizations can effectively work to strengthen their brands and generate growth.
What Is a Strong Brand?
Within any industry, countless brands are competing for the attention of consumers. What sets a strong brand apart from a weak one? A successful financial branding strategy gives financial marketing managers, growth marketers, and CMOs the necessary leverage when making financial branding decisions.
Consumers respect strong brands and are more likely to interact with their marketing campaigns. When branding in the banking industry and other financial sectors, leaders should consider what makes a strong brand before deploying their financial branding strategy. Strong brands are:
A strong brand garners the attention of consumers and competitors alike. When brands demonstrate that they can make good decisions, help consumers with their needs, and effectively use their financial branding to achieve their end goals, they will have more significance to the public at large.
Brands that can evoke strong feelings in consumers are more likely to garner their respect. This sense of captivation helps the brand stay in the minds of consumers, allowing it to spread. A good financial brand strategy will reinforce a sense of purpose, making the product or service more attractive to consumers.
Brands need to build a sense of connection with consumers. By engaging with the public, organizations can take their financial branding to the next level. Consumers who identify more closely with brands are more comfortable interacting with marketing campaigns and gain a sense of loyalty.
The strongest brands are also likable. Rather than marketing directly to consumers, financial marketing managers, growth marketers, and CMOs – branding in the banking industry and elsewhere should work to share important ideas, highlight the value of their products and services, and consider the outcomes of their efforts.
Why Is Consistent Branding Across All Financial Branches Important?
A recent survey found that 7 in 10 Under 55s would switch banks for a better experience, putting an even greater emphasis on the importance of brand consistency in the financial industry.
Localizing financial branding often means deploying services across multiple regions and branches. When doing so, communication between different branches gets challenging, and brand guidelines and messaging at a larger scale get lost without a proper central marketing portal.
Decision-makers must keep their brand messaging and identity consistent while allowing local branches to customize marketing collateral to their consumer’s behavior. With a distributed marketing platform, brands can establish the branding guidelines at the highest level, then allow local branches to create marketing collateral that is hyper-targeted.
Consistent branding across all financial branches gives consumers a standard set of principles and values to consider when interacting with a brand. When branches share common values, their financial branding strategy can be consolidated.
This consolidation makes managing messaging, products, and services easier across all markets.
How Can Banks Ensure Their Brand Is Consistent Across All Marketing Channels and Branches?
The banking industry is a saturated market, leaving businesses to compete with their financial branding strategies. These strategies include competitive advertising, unique services, and new technologies.
Banks that want to maintain consistent brands across all marketing channels and branches should define their core values with clear messaging and ongoing evaluation of whether their services deliver on those values.
Have a Strong Brand Strategy in Place
Branding in the banking industry and other sectors requires a firm grasp of strategic brand management.
It’s essential for financial marketing managers, growth marketers, and CMOs to first consider what their long-term goals are. They should then work to deliver services to their target audience and evaluate the consumer experience.
A strong brand strategy can only be deployed once the brand has been aligned with the organization’s business strategy. In doing so, local branches are guaranteed to remain within a brand’s approved and compliant assets, preventing local branches from creating collateral for their marketing campaign that doesn’t fit the overall brand.
What’s the Biggest Benefit of Having a Consistent Brand Strategy?
Organizations that have a consistent brand strategy in place see many important benefits. Greater consumer confidence, a competitive market share, and predictable sales are only a few of the advantages.
The most important benefit is access to direct communication channels with consumers for marketing new products, fielding client requests, and defining future financial branding strategies.
Businesses that deploy a consistent brand strategy can effectively deliver products and services to consumers with fewer barriers. This approach makes it easier to scale the organization and define potential measures for growth moving forward.
Discover Effective Financial Services Branding with MarcomCentral
Effective brand strategies for financial services can produce transformative results within an organization. Businesses can effectively define their brands by defining long-term strategy and values, refining operations over time, and delivering personalized client services.
Financial marketing managers who want to create compelling financial branding strategies understand the importance of a distributed marketing platform for building consistent, personalized messaging for brands.
MarcomPortal gives your team the convenience of customizing and distributing marketing campaigns by field managers with pre-approved messaging and brand. MarcomPortal’s distributed marketing platform ensures assets always remain 100% brand compliant.
Companies around the globe trust MarcomCentral to deliver experience and innovation when developing marketing campaigns.
Don’t let your digital assets keep you from building an effective branding campaign. See how MarcomCentral can improve your financial brand strategies. Contact us today for your free quote!