I am pleased to see the title Chief Brand Officer (CBO) appear with increasing frequency. In many cases I am sure there is little distinction in the role this person is playing from that of a Chief Marketing Officer. That said, I still like the trend.
While, at most financial institutions, product promotions will occur at some frequency through some select channels, brand is "hopefully" always present. In many cases, however, brand is not being managed consistently across all channels. The branch and brochure-ware may have received an appropriate level of attention in many cases, but websites, ATMs, and customer correspondence can fall very short. It may be time to leapfrog to the next level in branding.
Affinity branding, loosely referred to as personal branding, is becoming much more popular of recent. We're seeing more banks that specialize in affinity groups, such as attorneys, doctors, and other professionals to target an audience. Credit Unions by their nature start out as an affinity brand; educators, military, corporate, etc. These affinity brands are siloed and, while creating a strong bond with a particular segment, they do not allow for broad growth.
When you fully apply brand at a personal level you eliminate silos. The ability to apply customer specific or customer selected options to their brand recognition of your institution you are creating the strongest affinity possible.
Regardless if you are a CBO, CMO, Marketing Manager, head of Retail, or a Marketing Assistant, always maintain a focus on your brand, not just your marketing promotions. You will be rewarded with more and stronger customer relationships.
While, at most financial institutions, product promotions will occur at some frequency through some select channels, brand is "hopefully" always present. In many cases, however, brand is not being managed consistently across all channels. The branch and brochure-ware may have received an appropriate level of attention in many cases, but websites, ATMs, and customer correspondence can fall very short. It may be time to leapfrog to the next level in branding.
Affinity branding, loosely referred to as personal branding, is becoming much more popular of recent. We're seeing more banks that specialize in affinity groups, such as attorneys, doctors, and other professionals to target an audience. Credit Unions by their nature start out as an affinity brand; educators, military, corporate, etc. These affinity brands are siloed and, while creating a strong bond with a particular segment, they do not allow for broad growth.
When you fully apply brand at a personal level you eliminate silos. The ability to apply customer specific or customer selected options to their brand recognition of your institution you are creating the strongest affinity possible.
Regardless if you are a CBO, CMO, Marketing Manager, head of Retail, or a Marketing Assistant, always maintain a focus on your brand, not just your marketing promotions. You will be rewarded with more and stronger customer relationships.
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