Thoughts on how to keep your efforts from falling flat. By Mark Arnold
Branding can change a credit union. The key word is “can.” Many times a credit union embarks upon a new brand or recreates an existing brand. Perhaps the board, management team or marketing department decide key targets, develop a new look and even draft a catchy tagline. But then the brand falls flat. What happened? In many cases the credit union has fallen into “the brand gap.” Brand Gap The brand gap is the tension between the operational nature of banking and the creative/strategic skills of branding. There can often be a gap between key areas of the credit union. For example, there are possible brand gaps:
- between branding and strategy,
- between branding and staff and
- between branding and operations.
The brand gap essentially becomes a leadership challenge for credit unions. Gap Between Branding and Strategy Branding is a strategic process. The brand plan must tie directly to the strategic plan and the strategic plan must incorporate the brand plan. There is no one without the other. As Marty Neumeir says in The Brand Gap, “The secret of a living brand is that it lives throughout the company, not just in the marketing department.” Ultimately, no strategic decision in the credit union should be made without answering the question, “Will it help or hurt the brand?” Should you serve the underserved—does it help or hurt the brand? Should you market to Hispanics—does it help or hurt your brand? Should you open a branch in another county—does it help or hurt your brand? Those are examples of aligning strategic decisions with the brand. Gap Between Branding and Staff While marketing may put a public face on the brand, it is the staff who must live the brand every day. Great credit union brands are built with a triangle approach: management, staff, and members. In an ideal world, management leads the brand, staff lives the brand and members love the brand. In many cases, effective brands fail at the staff level because of that gap between the brand and staff. Successful brands involve staff at every level. Credit unions doing branding must conduct brand training with their staff and develop brand standards for their staff. $1.2 billion Credit Union Of Texas, Dallas, recently rebranded. As part of that rebrand, they took each staff member—almost 300 employees—through brand training. “We wanted all of our people buying into our new brand,” says CUES Chris Lederer, VP/marketing and brand management. “The training gave employees the opportunity to understand the critical role they play--from frontline to support staff. Branding is not just about marketing—it’s about how staff delivers that brand to our members and each other every day.” Gap Between Branding and Operations It is quite normal for a gap to exist between marketing and operations. Operational thinkers tend to be analytical, logical, linear, numerical and literal. On the other hand, creative thinkers tend to be intuitive, emotional, spatial, visual and conceptual. If a gap exists between the two in your credit union, your brand will suffer. What does your brand say about the account opening process, the hiring process, and the loan approval process? Your brand is rubbish unless you bring it to life and animate every day in your branches. For example, your tagline can’t be “we make it easy,” if it takes your members over 24 hours to get a loan approved. If your brand says, “we’re the friendliest credit union in town,” and your operator is rude, then your brand is rude. The biggest threats to your brand come from within—many times in the form of a brand gap. Your weakest link will destroy your brand. However, reinforcing the brand with employees every day and bringing to life and animating the brand will help you bridge those potential chasms. Mark Arnold is president of On the Mark Strategies, Carrollton, Texas. Mark Arnold will talk more about the brand gap in his Execu/Net session about advanced branding concepts for credit unions. The event will be held Aug. 30-Sept. 2 in Jackson Hole, Wyo. CUES School of Strategic Marketing I and CUES School of Strategic Marketing II will be held July 13-15 and July 16-17 in Seattle. Complete both schools (not necessarily both this year!) and complete the assigned project to earn the prestigious Certified Strategic Marketing Executive (CSME) designation. Attend CUES School of Member Experience, where you and your classmates will cover findings from Filene’s report, "Customer Experience and Credit Union Opportunities," and tap into knowledge developed by MNA Consulting Inc., over years of creating member-centered credit union culture. The event will be held Sept. 14-15 in San Antonio.
