How well-positioned is your credit union to help members lead more secure and, presumably, better-funded, lives? Quite well, right? But how well are you placing your members at the center of your brand?
Companies nowadays frame their customer relationships as something beyond just transactional. Credit union competitors certainly do. With tag lines like, “A finance company that can help you get ahead,” SoFi is doing it. And if fintechs are able to get their own bank charter, it could take competition to a whole new level.
In today’s business environment, questions about framing and branding are neither rhetorical nor merely academic.
According to the New York Timesarticle titled “When Is A Burrito More Than Just A Burrito?,”“Brands have long tried to persuade people that they represent something larger than the mere goods they sell. … Now, all kinds of companies are trying the strategy of using emotion and ‘shared values’ to build relationships with consumers — and to sell them more stuff.”
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