Branding – Part 2: Taking action

In last week’s post, we discussed branding from an overarching and conceptual standpoint. It can be an ethereal topic, but eventually something has to take shape and lead us to specifics like planning and execution. If your credit union has made the decision to take control and project an identity, or if you think it’s time for an image update, here are a few considerations to take into account.

Putting together the pieces

• Define yourself – Before deciding on color, font, messaging or logo, it’s essential to define your credit union’s brand. Take inventory of the components that are already in place. What is your stated mission? What are the consumer benefits of working with you? Who do you want to attract to your member base? How can you differentiate from your competition? These are all great questions to take in to account when evaluating your identity. Be confident in who you are, and don’t be afraid to project it to current or potential members.
• Develop your look – Logo work, colors, typeface, style – it can be a lot to handle. If you’re going to employ outside help on anything, this should be it. Professional graphic designers spend years honing and developing the nuanced points of typography and color theory. A good designer will be able to take your credit union’s stated mission, goals and targets, and create a visually appealing palette that is appropriate, unique, versatile and memorable.
• Create consistency – The point of branding is to develop a memorable identity. If the look and feel of your collateral changes piece to piece, it could confuse the intended audience and water down your messaging. Items don’t have to be identical, but there should be some continuity among brochures, business cards, letterheads, signage, packaging, forms and the like. This goes beyond the obvious visual aspects, there should be a conceptual continuity as well regarding voice and personality.
• Build awareness – All the branding in the world won’t make a difference if it doesn't reach your audience. Creativity and a good marketing team go a long way in terms of execution. Know your target, stay visible and measure ROI to keep track of what works.
• Follow through – Your credit union’s brand identity is its first impression, but with the right moves, it will be the first of many. Once you've attracted new members and expanded your membership, follow through and keep your promises. The altruistic nature of the credit union industry makes this step especially important, but perhaps the most easily executed. Your members love you for a reason. Once you get them in the door, keeping them coming back should be the easy part.

This may seem like a tall order, but keep in mind that with the onset of any new system, the initial investment (whether time or money) is often the biggest obstacle. Once you've established a structure and have a set of guidelines in place, the routine becomes much more simplistic. Just remember to trust your intuition, engage your audience and be consistent.

As always, CU Solutions Groups is here to help if you need assistance with anything graphic, identity or marketing related. Contact us today to discuss brand development and connecting with current and potential members.

Branding – Part 1: Why No Presence Can Be Better Than a Bad Presence

First off, let me start by saying that I’m not advocating for credit unions to have no presence – quite the opposite. But I will stand by the idea that anything worth doing, is worth doing right. This is especially true of well-executed and consistent branding by your graphics and marketing teams. 

Better than bad, or worse than good?

Allow me to illustrate this point with a little story. I put myself through college performing as a professional mobile DJ. My weekends consisted of weddings, graduation parties, sporting events, festivals and fundraisers. Coming up as a young freelance entertainer, I've had several mentors to which I owe a great deal.

One of these mentors was an amazing DJ and emcee – probably the best I’d ever worked with – but his business sense and company presence wasn't quite there. His website, business cards and collateral materials lacked consistency. Colors and fonts changed from piece to piece and page to page, photos were pixelated, and the designs, plain and simple, were not attractive. It was a hard subject to broach, but I always felt that his poor design and execution drove more business away than it attracted.

I took this as a lesson and sprung some extra money for a professional designer. My website, business cards, letterheads and other related collateral had a sleek and professional design that matched throughout. If you put our two companies side by side, there was no question that potential clients would gravitate towards my services, while in reality, he had much more experience and expertise (I was certainly no slouch, but just being honest). Here are a few examples of some well executed and consistent branding. It’s plain to see how much of a difference good branding can make.

What this means for credit unions

Your credit union’s design is your credit union’s first impression; it is your identity. It sets the tone for the relationships that you will build with your members. In a consumer-driven society, you’re vying for time with every other sign, billboard, commercial or mailer that an individual comes in contact with, and the decision to review your info and services is made in a matter of seconds. You might offer the best rates, lowest fees and excellent customer service, but none of it matters if you’re not able to bring new faces in the door.

Deciding to re-brand is not a decision to take lightly or make in jest. It is a big commitment that needs to be thought out and contemplated from many angles. In part two of this post, we’ll look at specific goals and tips for developing an effective, attractive and consistent appearance for your credit union.

If you think it’s time to consider a re-branding of your credit union, an investment in professional graphic services with CU Solutions Group can underscore your marketing efforts for years to come. Contact us to today!

Getting it Right: NuPath Community Credit Union

Name: NuPath Community Credit Union
State: Michigan
Assets: $89,138,038
Members: 13,597
Website: www.nupathcu.com
Twitter: @NuPathCU
 
Wyandotte Federal Credit Union in Michigan knew what it took to gain the competitive advantage in its market. While a change in charter is what initially motivated the credit union to change its name to NuPath Community Credit Union, the CEO, board and staff embraced this change with open arms.

“With our 75th anniversary approaching in 2013, declining gains in membership and the credit union’s current sponsors no longer providing a sufficient number of new or prospective members, our board determined that it was time to change our name and convert our charter,” explains Kathy White, CEO and president of NuPath Community Credit Union.

When it became time to launch its new name, brand, website and campaign, the credit union decided to team up with CU Solutions Group. Everything became official on January 1, 2013 and they haven’t looked back. “As NuPath Community Credit Union, we look forward to continuing the traditions of the past, while continuing to guide our current and future members on a path of financial success.”

Delivering Your Brand Message Through Your Staff

As marketers we spend a lot of time developing our credit union’s brand and ensuring that all of our messaging reflects this brand. Knowing that our brand is really the sum of all the messages we deliver and of the members’ collective experience with the credit union, we need to make sure we are putting appropriate emphasis on the role our employees play as a delivery channel for our brand messaging and the brand experience.

Research indicates that members, despite the growing popularity of other delivery channels, still prefer the branch for banking transactions. They perceive face-to-face interactions as a higher quality service experience. 

It is imperative that we allocate the time and resources necessary to train our staff on what our brand promise is and what this looks like in member interactions. It also means providing them a strong knowledge of our products and services and, more important, an understanding of how they can help our members in each unique situation. Not only will this help us accomplish our sales goals, but will make our staff feel good about cross selling; because for them it won’t be about selling, but about serving our members and helping them with their finances.

First steps for involving your staff in delivering your brand promise:

• Develop brand guidelines that you share with your staff. Include dress codes, standards for teller station and desk decorations/personalization, social media usage and how members will be greeted and handed off to other employees. This sets clear expectations of how your brand experience should be delivered to members.
• Deliver brand training and involve all of your staff. Take time to explain your brand to your staff. Discuss what your brand promise means and how their interactions with members reinforce or break down that promise.
• Role play member interactions with your front line staff. Act out member interactions with your employees to help reinforce how your products and services are relevant to different life stages that members may share with to your staff. For example, if a member tells you they just welcomed their first grandchild into the world, explain how this is a perfect opportunity to tell them about your youth savings accounts so that the member can start out their grandchild with savings for their future.  
• Encourage staff to participate in community events that support your brand. Urge your staff to participate in the community events that your credit union supports so they feel a part of good work you do for the community. Explain how their involvement reinforces your brand within the community and the connection between the events and your brand.

If your credit union can accomplish this, your staff will have a purpose motive instead of a profit motive, with the end result being both. You are also meeting their urge to have a purpose that is satisfying by providing them the training needed to best serve your members with their financial needs.  

By making it a priority to provide your staff with the training and knowledge they need to comprehend the products and services you offer to the extent that they can recommend the most relevant products and services for each member’s unique situation, you can provide them the autonomy to do what they do really well. Listen and connect with your members and provide them with financial advice that will reinforce the credit union as a partner in making financial decisions. And isn’t that what most of our brands are about, being a financial partner with our members?