Yeah, I said it.
You're probably wondering why I chose to open up this blog post with such an inflammatory accusation. Well, the odds are, I'm probably right.
Branding is one of the most ubiquitous forms of marketing in modern day society. From my desk right at this moment, I see Apple, Canon, Kroger, Bacardi (its a billboard outside my window, I swear!) and Sanyo.
You may be wondering what I mean when I say "brand." To me, branding encompasses the look, feel and general attitude of a product.
Think about the attitudes people have when it comes to Coca-cola vs generic brand cola. Essentially the same product, but Coca-cola is (at my local supermarket, anyway) up to 60% more expensive than generic, yet during the summer, stores run out of Coke. Why is this?
Because Coca-Cola markets itself as a lifestyle. From their current iteration of brand packaging (red with sleek curved lines) to their commercials showing attractive people smiling and enjoying a Coke and a smile, Coca-Cola evokes feeling, whereas the generic does not.
Do me a favor: take your credit union brand. Compare it to any of the other credit unions in your area. Does it stand out? Is it fundamentally any different from the others?
The sad truth is, I probably know more about Beyonce's latest handbag purchase than I know about my financial institution's branding and feel. And I don't even like handbags that much.
What is your credit union's brand saying? Does it suck? Did it use to suck and now no longer sucks? Let me know in the comment section!