The Financial Brand Insights - Winter 2021

keep your community involved and abreast of upcoming changes? Keep in mind: ● Thought process

which in turn rewards brand equity. There are ways to create brand consistency through facility design combined with marketing and branding strategies. Creating exterior brand recognition is achieved through branded iconic elements, a consistent palette of materials, strong branded signage, and improved overall curb appeal. Think about your facilities as your brand, make sure their curb appeal makes them stand out above every other facility around them. Definitely consider night exterior illumination, not only for security and safety, but to also create a “beacon” to your brand 24 hours a day, 7 days a week. There are creative ways to transform existing facility exteriors using a consistent iconic element or palette of materials.

● People needs ● Facility needs ● Technology needs ● Presentation and delivery ● Brand consistency

The 4C’s for Branch Evaluation and Evolution

Is the change needed a repurpose of the branch as a whole or of just a portion of the space? What changing technology needs could be implemented and in what branch(es) do they make the most sense based on demographics of individual markets? Make the Right Connections The first step is knowing your consumers and demographics of the communities you serve, and then using that knowledge and insight to create engaging spaces and clear in-branch communications that make connections easy. If there are specific tasks or services that seem too monumental to manage internally with your own team, it might be beneficial to delegate these roles to the experts. Finding the right match can be a daunting task, but it pays off to seek out expert consultants and to align yourself with strong partners that share similar values and know and understand the industry. Make a Commitment to Change and Connections Stop looking at branch investment as a measurement of revenue but as a commitment to the continued growth of your institution, a contribution to the communities you serve, as well as an employee recruitment and retention tool. The commitment to changes in your overall organization, starts from the top down. Investment itself is a commitment. Not just investing in your products and services, but to update and modernize your facilities, and integrate the right technology for the branch locations in response to demographics. Invest in a long-term commitment to facility improvement and the ultimate consumer experience. Consistency is King! Brand consistency creates brand recognition,

A good start to a branch re-design might be to shift focus to researching retail spaces, determining what you like about the space, and what might be feasible and easily translated into a branch atmosphere. Finally, what design trends are fleeting, and which are here to stay, must be taken into consideration. The 4 C’s as an Evaluation Tool Each financial institution is unique and none are the same…but the 4 C’s apply to all.

By Jeff Klump President at K4 Architecture + Design

You might be surprised to find out that those in the financial design world struggle with the same questions that financial institution leaders do when it comes to branch design, often researching and examining our own projects to determine “What is the branch of the future” and

“Where do we go from here?” Start with Playing by the Retail Rules

K4 also strongly feels that interior brand consistency is necessary for relationship building and creating an atmosphere conducive to sales, and that although technology may not be a fit for every market you serve, there should still be interior elements and the integration of technology to make each branch brand consistent. Finally — creating consistency amongst your physical facility assets and physical and digital marketing assets solidifies the ultimate brand experience. ▪

In the late 1980’s Ray Davis, President of Umpqua Bank , revamped a small community bank into the largest financial institution in the state of Oregon over a 25-year period. His unique vision and conviction transformed Umpqua Bank from $150 million in assets to $21 billion in that time. His philosophy was, “Play by retail rules, rather than banking rules.” Ray believed that the Top 5 Keys to Success in both retail and banking are in fact, the same: ● Location ● Marketing ● Layout and appearance ● Service ● Bundle selling

CHANGE

CONNECTIONS

COMMITMENT

CONSISTENCY

Change is inevitable, so embrace it! “The banking industry competitive battlefield has been altered significantly, and it will not return to the ‘good old days.’ In fact, the change we are seeing will never happen this slowly again.”

- JimMarous , Owner & Host Banking Transformed Podcast

Change is the role of leadership and needs to happen from all angles. Identify the factors that will be instrumental in defining and executing these changes. What influential staff can help get everyone excited and on board and how will you

THE FINANCIAL BRAND INSIGHTS WINTER 2021