Tuesday, November 19, 2019 – In the fourth and final installment on rebranding a bank, ABA Banking Journal’s “Rebrand Implementation: What the Details Demand” focuses the last article in its Bank Marketing series on the steps needed for successful implementation of a bank rebrand. With institutions spending up to half of their rebranding budgets on implementation alone, the stakes for banking institutions couldn’t be higher. “While the implementation phase could be the most complicated part of the rebranding process, it also offers great opportunities,” according to the article.
In the article, Adrenaline’s CXO Gina Bleedorn addresses how important strategic planning is to the rebranding process. She says, “In many cases, banks may not think about holistic planning upfront.” They may also miscalculate just how much it’s going to cost to implement the rebrand. Gina notes, “The area that is most often underestimated is physical infrastructure. An average cost per branch – including exterior signage – is $100,000.” Once you also incorporate staff training and communication and updated marketing efforts, the rebrand will likely be one of the brand’s largest lifetime investments.
Costs are only one side of the story, however. It’s communication that is the cornerstone of a successful rebrand. Gina recommends brands continue communicating throughout the process. She says, “Consider how vital it is to acknowledge that you’re changing your name/logo/brand.” Everyone involved has a hand in a successful rebrand, and they don’t want to find out information third-hand through leaks. Gina recommends brands “mitigate the negative, then capitalize on the positive” and recognize the “more you embrace change rather than fear it, the more successful your organization will be.”
The ABA Banking journal article features proactive steps for every financial services brand to incorporate during the rebranding and implementation process, including holistic planning and effective communication strategies. We also recommend downloading a copy of our latest White Paper on Branch Optimization and Transformation for a hands-on guidebook for rethinking, refreshing and renewing banking's physical channel of experience. For more information or to speak with one of our brand experience experts, contact us at firstname.lastname@example.org.
Adrenaline is an experience design agency that creates and implements end-to-end branded experiences through creative and environmental design. We enhance our clients’ customer experiences across digital and physical channels, from their branding and advertising to design and technology in their spaces. After transforming an organization’s brand, Adrenaline extends it across all touchpoints — from employees to the market to in-store environments. And, we focus on serving industries that sell human experiences including financial, healthcare, sports and entertainment.