Presented by Jeffry Pilcher, financial brand strategist and publisher of The Financial Brand. Based on first-hand experience evaluating 75 financial brands over an 8-year period. These are the 7 biggest strategic errors (not tactical) organizations make.
DELUSIONS OF BRANDEUR Believing you have a differentiated brand when you really don’t.
Our mission is to become the preferred provider of superior financial solutions by earning people’s trust in the most friendly, professional manner possible. S T E R E O T Y P I C A L M I S S I O N :
1 Boredom. TOP 3 REASONS ORGANIZATIONS PURSUE A NEW LOOK AND FEEL: 2 New VP of Marketing. 3 No strategy or brand standards in place.
DURATION OF MATERIAL CONSISTENT, STANDARD LOOK a few days a few weeks many months many years promotional campaigns brand look-and-feel corporate look-and-feel
COSMETIC FIXATION Misunderstanding the role of the brand’s look and feel.
identity strategy The image you project. The reputation you want to have.
logo name brochures website slogan branches apparel apparel staff culture values mission vision position promise personality products innovation training hiring employee evaluations marketing identity strategy CSR strategy
1. Believing the brand’s identity is “the brand.” 2. Confusing a nice identity with a healthy brand. 3. Thinking that an identity makeover will “fix things.” THE 3 MOST COMMON FLAVORS OF “COSMETIC FIXATION”:
Brand perceptions are created by the experiences you deliver.
the image you’re projecting your actual experiences you deliver brand lie
People may doubt what you say, but they will believe what you do. — Lewis Kass
Your brand’s identity is just one of many image-building tools.
<ul><li>D E L U S I O N S O F B R A N D E U R Thinking you have a brand strategy when you really don’t. </li></ul><ul><li>T O X I C S A M E N E S S Looking, acting and sounding like everyone else. </li></ul><ul><li>L C D S Y N D R O M E Trying to appeal to everyone. </li></ul><ul><li>C R I M I N A L N E G L E C T Failing to support the brand with time, energy and money. </li></ul><ul><li>C U L T U R A L A U T I S M The staff doesn’t understand how to “live the brand.” </li></ul><ul><li>B R A N D I N G S C H I Z O P H R E N I A Delivering an inconsistent look-and-feel and/or experience. </li></ul><ul><li>C O S M E T I C F I X A T I O N Placing the wrong significance on the brand’s identity. </li></ul>