Is your credit union brand a Hollywood movie bust?
Fall is upon us and the summer movie season is at an end. It will be, however, a summer better remembered for its big-budget bombs than successes. Films with A-list stars and buckets of promotional cash, like The Lone Ranger, White House Down and After Earth all tanked spectacularly.
There are lessons credit unions can learn from these box office flops. In a way, our brands are like the Hollywood flagship movies we put out there for the members to remember, interact with and share. We put large amounts of time, effort, coordination and cash into our brands, all to push them out into the world and hope for the best. The last thing we want to see our brands do is flop, especially in epic fashion like some movies do.
How can you avoid this? Below are several critical components to consider that can help save your brand from circling the bowl like a movie bomb.
Leadership: As much money as we may pump into brands, the truth of the matter you cannot purchase your brand. Brand development takes many things to work and leadership tops the list. Marketers and business development support are key, but total buy-in at all levels of the credit union must occur. This includes the CEO, the board, human resources, IT–everybody. The staff will buy the brand only if they see the credit union’s leaders buying the brand.
Communication: It may seem second nature to many marketers, but communication is the devil in the details of branding. If we fail to communicate (and some would argue over-communicate) the details of the brand with staff, a disconnect is born, grows and may ultimately threaten to dissolve all your brand efforts at the seams. You must communicate your brand to your staff (as well as your members and potential members) at every chance. Branding communication is not relegated to the kick-off meeting. It simply starts there.
Experience: We promise a lot in our brand. It’s who we claim to be to members, potential members and the community at large. When we put a lot of hype into branding and then fail to live up to it, danger looms. For example, if your brand swears your credit union is the “friendly financial partner” or something along those lines and your front line staff are anything but friendly, the promise of your brand is torpedoed by its unfortunate reality. Your brand promise on paper must be backed with your entire staff living it, every day.
This is not an exhaustive list of brand success tips. Other points to consider include authenticity, enthusiasm and your credit union’s unique culture.
Protecting and nurturing your credit union brand is everyone’s responsibility. Once you’ve hung the posters, popped the popcorn and dimmed the lights, it’s time to start the show. By putting in the effort to care for your brand now, you can help ensure it’s not a grand flop in the future.
