| A strong brand will accelerate your bank's small | | | | are not done right). So his value is "confidence" - |
| business growth. Your goal should be to develop | | | | Roger does the job right, on time, and with no |
| and maintain such strong top-of-mind awareness | | | | mess afterwards. And for this, he charges nearly |
| with small business customers, prospects and | | | | triple the going rate. He is not the low-cost |
| referral sources that they think of you either first | | | | solution. |
| or second when they need banking services or | | | | 3. Special twist - What's special about the way |
| products you provide. | | | | you, or your team, or your bank solves the |
| And if you think that "branding" is an advertising | | | | problems or brings the joy? What will you do that |
| concept that only your bank's marketing | | | | other banks or bankers can't or won't? Your |
| department can afford or think about, think again. | | | | answer to these questions becomes the message |
| No organization is too small to work on effective | | | | in your local promotion and marketing. In Roger's |
| branding strategies. | | | | case, the twist is "one-stop shop" - he saves his |
| Brand = a purposeful reputation | | | | clients time and aggravation because he does |
| For example, when my family wants a cake for a | | | | plumbing, painting, light carpentry, and general |
| special occasion, we think of only one place in our | | | | household electrical repairs. Other local companies |
| town, a small bakery called La Provence. Why? | | | | don't offer all this. |
| Robert (he's French, so it's Ro-BEHR) makes a | | | | 4. Messaging - How will you stand out from other |
| cake that is so rich, so creamy, so enthusiastically | | | | bankers or banks like yours? How will you prompt |
| bursting with chocolate, that we have served his | | | | people to remember you when they need what |
| cakes at dozens of birthdays, graduation | | | | your bank offers? Fill in the blank in this sentence: |
| celebrations, and bridal showers. | | | | "Oh, yeah, that's the bank that ______." Or, |
| Robert has developed a very strong brand with | | | | "She's the banker who ______." For example, in |
| us. He has achieved top-of-mind awareness. When | | | | Roger's case, it's his personality (he's from New |
| we think of happy occasions, we think cake - and | | | | Zealand) and one of his favorite expressions, "no |
| when we think cake, we think Robert. It's partially | | | | worries, mate." In my town, if you're in the |
| tangible (the cake) and partially experiential (the | | | | hardware stores and you hear "no worries, |
| warm feelings associated with buying from him | | | | mate," you know it's Roger. |
| and eating his cakes). We will be happy | | | | 5. Visibility - How will you make your messages |
| consumers of many Robert cakes in the years to | | | | visible so people can see or hear them? How will |
| come - at more than $40 per cake, two to three | | | | you build your recognition factor? Here, you have |
| times the standard cake price in local bakeries. | | | | two key decisions to make: how and how often. |
| In the branding world, your brand is what is there | | | | Your answers will depend on your target |
| when small business owners answer the question | | | | customers - where they are, what they look at, |
| "What's really special?" about a particular bank. It | | | | how they like to receive information, etc. |
| is what small business owners can really count on | | | | Whatever you decide, use your messaging |
| you for. It is a bookmark for the warm feelings, | | | | consistently and frequently in every visibility |
| trust, and good experiences that small business | | | | effort. This includes written communication (letters |
| owners associate with you, your bank's branch,, | | | | and emails),telephone calls and voice mails, and |
| and your bank. It is the reason they recommend | | | | face-to-face meetings such as Chamber events, |
| you to someone else. | | | | mixers, and sales calls. |
| Many businesses in my community have | | | | Too much time and effort? |
| developed strong brands. Swedish Motor Works? | | | | Does this sound like a lot of work you don't have |
| Honesty - they won't rip you off. Evergreen | | | | time for? Too much analysis when you should be |
| Financial? Thoughtful college tuition and financial aid | | | | out there getting more business? Maybe. But |
| planning so you can send your kid to the right | | | | instead, ask yourself how can you afford not to |
| school. Roger's Home Repairs? They're fast and | | | | put in the time to do it. |
| neat and they don't leave a mess in your house. | | | | As you work, remember you're investing to |
| Five steps to starting today | | | | accelerate your bank's small business growth. You |
| Each of these businesses backed into a brand | | | | are thoughtfully choosing, developing and |
| over a period of years through their day-to-day | | | | maintaining such strong top-of-mind brand |
| work and their owners' personalities. Once they | | | | awareness with your prospective small business |
| figured out what was really special about | | | | customers and referral sources that they think of |
| themselves, they talked about it, promoted it, and | | | | you either first or second when they need the |
| delivered it every time. But you don't have to | | | | service or product you provide. You are reducing |
| wait 10 years to develop a reputation and a | | | | the months or years required to establish an |
| following. You can accelerate the process by | | | | identity and a reputation that brings business to |
| working through the following five steps: | | | | you. You are accelerating your growth. |
| | | | You can work your way through these steps in |
| 1. Targets - Who will be your most important | | | | an hour the first time, although you may need to |
| clients or customers? If we use Roger's Home | | | | think about your conclusions for a few days or |
| Repair Company as an example, this is "upwardly | | | | weeks as you talk to your small business |
| mobile dual middle- to upper-middle income families | | | | customers and small business banking team |
| who don't have the time, patience or skills to | | | | members. |
| perform home repair and maintenance projects | | | | Finally, remember that you must deliver whatever |
| themselves or to deal with contractors." | | | | you've promised. Your customers' experiences |
| 2. Value - Which of their problems will you solve? | | | | with you must back up your brand. Your small |
| What joy and beauty will you bring? This is a | | | | business banking team members must understand |
| point on which many bankers flounder. They think | | | | your answers to these five questions; you must |
| in terms of their products rather than the client | | | | hire, coach and teach your employees to create a |
| problems they solve. Roger's target customers | | | | customer experience that is the brand. If you do, |
| think that contractors and repair people are | | | | you'll get the best visibility and acceleration |
| unreliable (in terms of showing up on time), sloppy | | | | possible: word-of-mouth referrals from delighted |
| (they leave a mess), and semi-competent (repairs | | | | small business customers to their friends. |