Are today's banks overbranded?
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Transcript of Are today's banks overbranded?
Are today’s banks over-branded?
Good morning.
I’m not a banker.
I run a branding and design firm.
And I owe you an apology.
I’m sorry.
Our industry has given you bad advice.
Guidelines
Sleeping woman
The argument:
The argument: Overbranded?
The argument: Overbranded? Why?
The argument: Overbranded? Why? What to do?
Back in 2002 …
The world’s local bank Passion to perform Higher standards Citi never sleeps We will not rest Here for you Here for good
$1,000,000,000 $1,000,000,000 $1,000,000,000 $1,000,000,000 $1,000,000,000 $1,000,000,000 $1,000,000,000
Bank brands have become inescapable.
The argument: Overbranded?
The argument: Overbranded? Why?
One.
Fuzzy
promises.
Two.
Mindless
consistency.
Three.
Hollow
differentiation.
One.
Fuzzy
promises.
Two.
Mindless
consistency.
Three.
Hollow
differentiation.
1 2 3
4 5 6
7 8 9
1 2
5 6
7 8 9
The answer is not trying to copy Apple.
Nor is it trying to copy Starbucks.
As an industry, we need to start saying it like it is.
What to do about fuzzy promises?
What to do about fuzzy promises? Tell me what you do for me.
One.
Fuzzy
promises.
Two.
Mindless
consistency.
Three.
Hollow
differentiation.
Sticking a logo onto everything is not branding.
HSBC
The problem is even more acute in digital media.
So what if we got the brand out of the way?
Let’s try to apply the same principle to my online banking interface.
What to do about mindless consistency?
What to do about mindless consistency? Get the brand out of the way.
One.
Fuzzy
promises.
Two.
Mindless
consistency.
Three.
Hollow
differentiation.
Dear valued client …
® SM TM
® SM TM BS
What’s the difference?
What’s the difference? Citi Gold HSBC Premier Standard Chartered Priority DBS Treasures OCBC Premier Hang Seng Prestige
What’s the difference? Citi Prestige HSBC Priority Standard Chartered Premier DBS Gold OCBC Prestige Hang Seng Premier
What’s the difference? Citi Premier HSBC Prestige Standard Chartered Gold DBS Premier OCBC Priority Hang Seng Treasures
So what if we created experiences that were really different?
Car pickup. Driver. Bell-boy. Lobby. Check-in. Room key. Elevator. Slippers. Bed. Toiletries. Towels. Bathrobe. Shower. Mini-bar. TV. Pool. Gym. Restaurant. Spa. Business center. Maids. Newspaper. Bar. Mini-bar. Room service. Wake-up call.
Car pickup. Driver. Bell-boy. Lobby. Check-in. Room key. Elevator. Slippers. Bed. Toiletries. Towels. Bathrobe. Shower. Mini-bar. TV. Pool. Gym. Restaurant. Spa. Business center. Maids. Newspaper. Bar. Mini-bar. Room service. Wake-up call.
Let’s apply the same principle to banking.
Branch. Greeter. Officer. Application. Welcome kit. Transactions. Personal loans. Revolving credit. Overdrafts. Mortgages. Credit cards. Travel Insurance. Life insurance. Health insurance. Home insurance. Investments. Forex. Consultations.
Branch. Greeter. Officer. Application. Welcome kit. Transactions. Personal loans. Revolving credit. Overdrafts. Mortgages. Credit cards. Travel Insurance. Life insurance. Health insurance. Home insurance. Investments. Forex. Consultations.
The interface for accessing my money is broken.
Someone, please give me a heavenly card.
BTW, the technology already exists.
What to do about hollow differentiation?
What to do about hollow differentiation? Be better where it matters.
The recap: Overbranded? Why? What to do?
One.
Fuzzy
promises.
Two.
Mindless
consistency.
Three.
Hollow
differentiation.
Two.
Mindless
consistency.
Three.
Hollow
differentiation.
One.
Tell me what
you do for me.
Three.
Hollow
differentiation.
Two.
Get the brand
out of the way.
One.
Tell me what
you do for me.
One.
Tell me what
you do for me.
Two.
Get the brand
out of the way.
Three.
Be better where
it matters.
HONG KONG
Shift.
3&3A Upper Station Street
Sheung Wan
Hong Kong
BEIJING
Shift.
中国
北京市朝阳区东大桥SOHO尚都北塔
A座1205, 100020
SINGAPORE
Shift.
73A Duxton Road
Singapore
089532