Six Essential Tips for Your Credit Union Brand
It might be time to check your credit union brand’s pulse and heartbeat!
Your brand may be the single most important asset your credit union owns. You may think that a brand is just a name, a logo, or some other simple way to identify your financial institution. If that’s your view (and unfortunately it is for many), you are grossly underestimating the power and importance of your brand. Your credit union brand is no different than the way you think about or use brands in your everyday life. Think for a moment about your favorite brands.? What are they and why do you use them? Is it because they provide you with some functional purpose that other brands don’t?? Maybe it’s price, or quality, or uniqueness. Do they deliver some level of emotional satisfaction? They might make you feel smart about your choice, or they bring you a good feeling because they support a particular cause you favor. Can you see that your brand choices aren’t purely random, but rather purposeful, even though sometimes at a subconscious level? Great brands are intentional about who they are and what they do.
How to tell if your brand has become anemic
Is your credit union not growing at the same rate as the average for your peer group? Is your credit union falling behind in key financial ratio metrics quarter over quarter, or year over year? Has your net worth fallen below 8%? Are you losing members to other financial institutions? Do you need more of your members to use more of your products? Are your marketing efforts delivering expected results and ROI? Unless you conduct a brand audit, you may never know the answers to some of these questions, and certainly not how to fix them.
Your brand is the foundation for your credit union and everything you do
A brand is more than a name and logo (although it is important that they have meaning and resonate with your members). A brand stands for something…it makes a promise that you must deliver day in and day out. Brands are characterized by both functional and emotional attributes—what the brand does for members and how it makes them feel. Do those attributes align with what your members want and desire? Your brand’s personality plays a big role in how your brand connects and communicates with your members. How would you define your brand’s personality, and do you ensure that all communications and actions speak with the brand’s voice? Everyone within your organization is part of your brand. Do all of your employees and staff know and understand your brand and that they are often the face of your brand to the member?
领英推荐
Six steps to fix your credit union brand and maximize opportunity
Take a Credit Union Brand Audit
At Aux, we really know and understand brands. Our Marketing Services team has over 50 years of recognized experience in building strong and relevant brands. Your brand should be felt and experienced at each and every touchpoint with members, reinforced in every channel, and building a promise that your members value and trust.
Aux Marketing Services can help you determine how your brand is performing. Is your brand working hard enough? There are some of the important questions you need to understand if your credit union brand is working for you. Your brand is one of the most valuable and important assets you have. But they can get stale. They can lose their relevance over time. Brands can sometimes be an obstacle to gaining new members.
For a limited time, Aux is offering a reduced-cost audit of your brand to identify areas where you can improve its performance. For just $1,999 (savings of $2,000), we’ll point out areas where your brand could use enhancements and suggest even more ways to optimize your brand’s performance. This offer includes a complimentary 30 minute “What is a brand and why is it important” presentation to your credit union leadership team to get everyone excited and aware of the potential power your brand possesses.
Interested in learning more? Schedule a time to chat with us !