The finance sector is mature; customers and clients have a wealth of similarly high quality offers to choose between. The power of brand is to articulate why they should choose your proposition over someone else’s.
This is a sector that operates on trust. Trust is what allows customers and clients to rest easy while their chosen brands take care of their savings and investments. It’s what makes people more likely to open printed materials they receive in the post if they can tell it’s from a finance brand.
But it’s not only trust between brands and their customers that’s important. As more and more of life moves online, employees are playing a much larger part in representing the brand. For a brand to keep control of its image and reputation, it’s essential to build and maintain the trust of its people.
Building trust is all about matching words to deeds, promises to actions. It’s about different parts of the organisation all saying the same thing, not contradicting each other, not offering something with one hand and taking it away with the other. In short, it’s about telling a cohesive story, presenting a cohesive vision. That’s the potential of your brand. To put your vision out there consistently, differentiate your offer from the crowd, and build trust.
Financial firms that realise the full potential of their brand, and forge strong bonds of trust with their audiences, will find themselves stably positioned to navigate whatever changes the market may bring.