Search Results for: inspiring bank

1 bank branding on the Brand Insight Blog from BNBranding

Is “Inspiring Bank” an Oxymoron? The Branding of Umpqua Bank

It’s interesting, where people find business inspiration. For some, it’s the pages of Forbes or podcasts with big-name entrepreneurs. For me it’s the bookstore, or conversations with clients. I don’t think anyone looks at bank branding as a source of inspiration.

bank branding on the brand insight blogMost banks are not known for their inspiring interiors or creative marketing practices. The most exciting thing to ever happen at my old bank was the emancipation of the counter pens…

They were released from their chains and replaced with crappy logo pens that are now free to take home with just a purchase of a $10,000 15-year Certificate of Deposit.

Nope. The banking industry is the last place I’d look for business inspiration or marketing insight.

That is, until I met Ray Davis, the the former CEO of Umpqua Bank.

 

Turns out, Davis is not inspired by bank branding either.

According to Davis, the key question driving strategy discussions at Umpqua Bank has been, “How can we get people to drive by three other banks to get to ours?”

That question has steered the bank’s team to look outside the financial sector for inspiration. For instance, Umpqua’s brand has been heavily influenced by the retail industry. “Build the branches around interactions, not transactions.”

Umpqua Bank has grown from $150 million to $24 billion in assets during Davis’ time as CEO. Today it has 350 stores in three states. But perhaps more importantly for the brand, Umpqua has been included in Fortune Magazine’s list of 100 best places to work  — eight years in a row.

Bankers and banking consultants from all over the world visit the Umpqua headquarters in Portland and the San Francisco branch to see what they’re doing and how they’re doing it. And what’s even more impressive is that executives in completely different industries are also looking to Umpqua for inspiration.

Turns out, we really can learn from a bank when it comes to branding.

So what’s behind it? What’s turned this small town brand into one of the fastest growing banks in the nation?

“Umpqua started to take off once we realized what business we’re really in,” Davis said. “I don’t believe we’re in the banking industry. We’re in the retail services business.”

When Davis applied for the job at Umpqua he warned the Board of Directors that he was going to throw out all the old conventions of the banking industry and start something completely different. Because he believed they couldn’t compete against the big guys in any conventional way.

“Banking products are a commodity,” Davis said. “You can’t differentiate yourself that way. The big guys are just going to copy any good new product we come up with. But they can’t copy the way we deliver the service. They can’t copy our experience.”

bank branding on the Brand Insight Blog from BNBrandingFor that, he borrowed ideas from two great retailers… Nordstrom and Starbucks.

Umpqua stores look more like the lobby of a stylish boutique hotel than they do a bank. You can settle into a comfortable leather chair and read all the leading business publications. Have a hot cup of their Umpqua blend coffee. Check your e-mail or surf the web. Listen to their own brand of music and maybe even make a deposit or open a new account. Who knows.

It’s a dramatic leap when you compare that experience to the cold, marble standards of the banking industry.

Clearly, Davis knows how to execute. He doesn’t talk about “execution” per se, but he obviously has the discipline to match the vision. He’s knows how to motivate and how to manage an organization through dramatic changes. And he’s built a corporate culture that aligns with the brand promise.

Here are some of the things Davis has successfully implemented and some reasons why bank branding is now on my inspiration radar…

• Random acts of kindness:  Local Umpqua teams just do good stuff, like buying coffee for everyone who walks into a neighboring Starbucks. They don’t have to ask permission.

• They get their customer service training from Ritz Carlton.

• Every Umpqua employee gets a full week of paid leave to devote to a local charity. That’s 40 hours x 1800 employees! Any other banker would do the math and say it’s too costly. Davis says it pays off 100 fold. That’s bank branding at it’s best.

• They have their own blend of coffee. Shouldn’t every great brand have its own blend of gourmet coffee?

• Proceeds from Davis’ book “Leading for Growth. How Umpqua Bank Got Cool And Created A Culture of Greatness”go to charity.

• They invented a way to measure customer satisfaction. As Fast Company Magazine put it: Umpqua Bank has a rigorous service culture where every branch and each employee gets measured on how well they deliver on what they call “return on quality.”

• They embrace design as a strategic advantage. At Umpqua branches, everything looks good, feels good, and even smells good!  It’s the polar opposite of a crusty old bank. It’s a pleasing environment, which makes an unpleasant chore much nicer.

• Davis GETS IT. He knows, intuitively, that his brand is connected to their corporate culture. “Banking executives always ask, ‘How do you get your people to do that?’ It’s the culture we’ve built over the last 10 years. It doesn’t just happen. You don’t wake up one day and say, gee, look at this great culture we’ve got here. Our culture is our single biggest asset, hands down.”

Umpqua-bank-interactive• He’s a great communicator. Davis doesn’t use banking stats to motivate and persuade. He uses stories, analogies and real world examples.

• He embraces the idea of a big hairy audacious goal. In fact, everyone answers the phone “Thank you for calling Umpqua Bank, the world’s greatest bank.”

So the next time I’m looking for inspiration, maybe I’ll skip my usual haunts and head down to the bank for a cup of coffee.

For more inspiration, try THIS post.

For inspiration regarding your own marketing efforts, call me at BNBranding.

 

Lessons learned from 30 years in a professional services business

 

brand credibility from branding expertsProfessional services marketing is one of the toughest specialties in my line of work. First of all, marketing an intangible service is much harder than marketing a tangible product, like a tasty new food item. Second, it’s hard to know where to spend your money, and which tactics are appropriate for a professional services firm.

There are a million different things you could do, and a lot of professionals struggle to make sense of all the options. A quick Google search for “business-to-business marketing tips” produces an unprecedented amount of misinformation.

Like this little gem of nonsense:

“While consumers choose products based not only on price but also on popularity, status, and other emotional triggers, B-to-B buyers make decisions on price and profit potential alone.”

B-to-B marketing, they claim, is all about reason and logic.

These misinformed “experts” expect me to believe that emotion plays NO role in B-to-B marketing decisions. As if real people are magically transformed into corporate purchasing automatons the minute they set foot at the office.

honesty in political advertising

Give me a break.

Thirty years running a professional services business, and I can’t think of one single client we ever landed because of some rigorous analytical purchasing process. Not one.

People buy for subjective reasons, then they justify the purchase decision with a logical checklist of excuses. In B-to-B purchases, they just need a little longer list.

In the case of BN Branding, when we ask clients why they chose us, here’s what they say:

“Because I like those ads you did for Smidge.”

“Because I really relate to that article you wrote about the yin and yang of marketing.”

“I just got a good feeling from your website.”

All purely subjective, intangible excuses.

Other clients say it’s because we have a disciplined branding process. But even that’s not an objective reason. Our process produces a FEELING of confidence that allows them to act. But no one’s going to tell you what’s really going on, deep down. They might not even know why they really buy from you.

 

 

In B-to-B marketing it’s gut first. Then heart. And then the head.

The psychology of rationalization is well documented. The latest advances in neuroscience and behavioral economics prove, time and time again, that  it’s human nature. That’s how our brains are wired.

So that’s lesson #1 from all my years  in professional services marketing: Never underestimate the power of emotion in B-to-B purchases.

If your marketing efforts revolve around checklists of facts and features, you’re not going to see the results you’d like. Facts can’t be the centerpiece of your marketing. You have to dig deeper than that.

Facts seldom offer an emotional hook, or any reason whatsoever for the brain to pause and seriously consider your service offer. In fact, the human brain is hard-wired to gloss right over facts and data, and move on to more meaningful things.

Like stories and distinctly different graphics. Facts tell. Stories sell.

What stories are you telling? What proprietary branded graphics have you produced lately?

professional services marketing lessons from the Brand Insight Blog

Lesson #2: Love what you do.

Service businesses are easy to start, but hard to grow.

That’s because the business model for most professional service firms is sub-optimal.  Sales cycles are long and drawn out. Delivery is highly dependent on talent. And every client requires your skill and attention, to some degree.

Most are not scalable because they hinge on the talent of a few key partners.

The challenges are substantial, so you better love your work. In fact, you better be downright passionate about your particular specialty.

Branding, in one form or another, has been my passion since I was 15. I absolutely love producing eye catching ads, effective websites, or inspired content…  whatever it takes to help clients succeed.

I love the collaboration with clients and designers and programmers. I love the collision of art and commerce. I still get a charge out of the creative process, even if it’s just a little digital ad that we’re producing.

That enthusiasm is infectious.

On the other hand, “inspiring banker” is an oxymoron. And I’ve never met an accountant who seemed genuinely passionate about her work.

I’ve tried six different accounting firms over the years, and not one has shown any interest in my business whatsoever. Not one has ever called, in the middle of the year, to check on my progress and offer financial advice. (In fact, not one has ever sent any kind of proactive communication of any kind.)

Not one has positioned herself as anything more than an end-of-year number cruncher. Seems like a great opportunity — for someone. (If there are any really good accountants out there, give me a call!)

A glaring lack of passion is an easy way to UNsell the clients you’ve already sold. The fact is, passionate professionals like me want to do business with other passionate professionals. Or if not passionate, at least interested. Engaged. Semi-helpful!

Harry Beckwith wrote three great books on service industry marketing. In “Selling the Invisible” he says the first priority is the service itself. You gotta get the service right. I believe that starts with your attitude.

If your attitude sucks, the service will too. If you don’t love the professional service you provide, fix it or get out. Go do something else before your business crumbles beneath you.

Lesson #3: Be persistently adaptable.

At my parents’ 50th anniversary my dad shared his secret to a happy marriage: “Persistence,” he said.  “Simple as that.”

The same can be said for successful service businesses. You’d be amazed by how many fail simply because the key partners quit working at it. Sometimes they run out of steam because they don’t love what they do. Sometimes they devote all their energy to one big client, and forget about everything else. Sometimes other priorities prevail.

Over the last 30 years I walked away from my business twice… Once by choice (thanks to an offer I couldn’t refuse) and once because of the economy. For a few years after the crash of 2009 it became a side hustle while I did what I had to do to survive. But I never quit on it. Never lost the passion for it.

One thing’s for sure: Shit happens. Circumstances change. Markets shift. People come and go. And new technology changes the game. You have to be able to adapt.

When I rebuilt the business it took on a different form… Virtual workforce. New processes. Different talent pool. And even more flexibility.

At BN Branding we adapt to the needs of our clients. The services we deliver vary dramatically depending on what they need. Most clients have no idea so we have to figure it out for them, and lead the way. That’s how we’ve developed long term client relationships.

With commitment, patience, consistency, and adaptability. It’s about relationships, not transactions.

Professional services marketing Lesson #4: Keep learning.

In my line of work every new client, every product category and every new project requires study, learning and growth. Without it, we’d never survive.

Experience has taught us a lot, but every business is different. Every marketing situation is unique. We can’t assume anything.

There are a lot of new digital agencies that do nothing but cookie-cutter ads in one particular niche market, like dental practices or car dealerships. They literally run the exact same ads for all their clients. Just swap out the logo.

I’d shoot myself.

It’s variety that keeps things interesting. Wards off burnout. Keeps the creativity alive.

And it’s our thirst for learning that enables us to do great work for all sorts of businesses… One day it’s the nutritional benefits of organic alfalfa in rabbit food, and the next we’re dealing with software as a service in the fintech segment.

Variety is the spice of professional services life.

I often counsel clients to discard products and focus on a more narrow niche. But sometimes you have to sacrifice specialization for your own sanity.

If you’re an architect, do you really want to design nothing but elementary schools your whole life? If you’re a consultant, do you really want to devote your entire practice to cannabis dispensaries?

 

professional services marketing lessons from BN BrandingLesson #5: Little gestures matter.

There’s an old Jewish proverb that says, “don’t open a shop if you can’t learn to smile.”

At BN Branding we like to celebrate little victories with our clients…  Like when a website goes live. When a new brand that we’ve created hits the store shelves. When one of our ads starts popping up on our phones or on billboards up the road.

That’s just the way we roll, and come to find out, the marketing professors have a name for that: “Managing the evidence.”

In professional services marketing you have to keep proving that you’re delivering on your promises. You have to provide evidence of your performance, or at the very least, proof of life.

Radio silence is the kiss of death.

I’m always annoyed by service providers who disappear in the middle of a project. It doesn’t matter if they meet the ultimate deadline and deliver great work, if they don’t communicate at all during the process I won’t be doing business with that person, or that firm, again.

Process matters! And decent communications is part of any process.

I’m not asking for perfection. I’m just asking for the common courtesy of an email update or a quick text message that says “hey, we got pulled away on an urgent matter, and we’ll get back with you tomorrow.”  That’s all it takes, assuming you actually do get back to me tomorrow.

Success hinges on keeping promises like that. It’s a lot of little gestures over a long period of time. That’s how you nurture relationships and build credibility. That’s one of the fundamentals of professional services marketing.

Lesson #6: Life’s a lot easier when you build a brand.

Beckwith summed it up quite well: “In service marketing almost nothing beats a brand.”

A brand makes your sales efforts easier and more efficient. A brand reduces stress for your prospects and makes buying easier. A brand improves credibility and aids word of mouth.”

“A brand is money.”

We can help you make both.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4 Brand Insight Blog Apple's new HQ

Class A office space, Class A brand — Brand alignment with your location

BNBranding Bend, Oregon advertising agencyIt was said to be Steve Jobs’ last great obsession… Apple Park.

The new corporate headquarters looks like a spaceship from a 1950’s sci-fi story. 12,000 employees in one building. 2.8 million square feet of space. The world’s largest panels of curved glass. 9,000 draught-tolerant trees. 5 billion dollar price tag.

The ultimate expression of the Apple brand under Jobs. And big-league brand alignment.

Brand Insight Blog Apple's new HQ

 

 

Steven Levy recently wrote a fascinating feature about Apple’s new headquarters for Wired magazine. For that piece, he interviewed Apple’s Chief Design Officer, Sir Jonathan Ive, who recently left Apple to start his own firm.

Ive oversaw the design of every Apple product from 1997 to 2019. Since Design is the heart and soul of the Apple brand, one could argue that Ive is the heart of Apple.

“It’s frustrating to talk about this building in terms of absurd, large numbers,” Ive said. “While it is a technical marvel to make glass at this scale, that’s not the achievement. The achievement is to make a building where so many people can connect and collaborate and walk and talk.” The value, he argues, is not what went into the building. It’s what will come out.”

 

More fantastic designs. More signature products from the world’s most valuable brand.

Brand alignment involves a lot of things… It’s how you communicate the Brand to your employees. It’s the events you sponsor and the companies you’re affiliated with. It’s the consistency of your messaging and graphics. It’s product design and yes, it’s even the design of your new office.

In Apple’s alternative universe, the giant circular ring of glass is perfectly aligned with the brand.

All Fortune 500 companies spend enormous sums on corporate headquarters because they understand that it really does matter to their most important brand ambassadors… employees.

Your office space says something about your brand and your culture. No matter how big or small your company is.

brand alignment Chiat Day building in Venice BNBranding.

Famed architect Frank Gehry designed this building for Chiat Day Advertising. Now it’s occupied by Google.

Small professional service firms should also make sure their space aligns with their brand.

When you’re selling a service, and have no tangible product, your workspace is an important physical manifestation of the brand.

(Or at least is used to be, before COVID 19)

In fact, depending on the business you’re in, your office space might be the single most important example of brand alignment.

For instance, when it comes to selecting an ad agency, office space always figures into the equation. The workspace is a tangible display of the agency’s creativity and “out-of-the-box” thinking. (Or lack thereof.)

Clients love doing business with the cool kids in the cool offices. They want to go somewhere that feels different, more energized or more “free” than their own place of business. It’s an escape from their normal, day-to-day reality. Clients feed off that. (Take a tour of Weiden & Kennedy’s Portland headquarters and you’ll see what I mean.)

If you’re an architect or an interior design firm it’s even more important… Your office space is an everyday opportunity to show off your work. It’s “Exhibit A” in the firm’s portfolio. It better be impressive.

For attorneys it’s about showing off their ivy league law degrees and proving, somehow, that they’re worth $450 an hour.

Cue the leather sofa and the $20,000 desk.

Harry Beckwith, in “What Clients Love,” tells how State Farm Insurance chose a firm to handle a huge payroll and benefits contract. They looked at all the proposals, narrowed the field, sat through presentations and listened to pitches from several very capable companies. They were all pretty comparable in price and service.

Then they dropped in, unexpectedly.

The State Farm guys walked through the offices of each competing firm, said a quick hello to their contacts, and chose the office that “felt the best” based on that one visit.

It’s a completely irrational, emotional, gut-instinct thing. (Have you ever walked into a restaurant and just felt an instant, knee-jerkingly negative vibe?)

First impressions matter. Details matter… Location. Colors. Layout. Even the coffee you serve says something about your brand. Is your company percolating along on Folger’s, or is it serving up a hot shot of espresso with a perfect crema on top?

Ask yourself this: Is there a disconnect between what people see in your marketing materials and what they experience in your office? Be honest.

Is your office space in alignment with your brand and your corporate culture? Many small companies that are genuinely warm and inviting in person maintain offices that are far too chilly and corporate. They’re trying so hard to look big and important they overstep their own brand personality.

And vice-versa.

Big banks work hard to make themselves sound friendly and personable in their advertising. Then you walk into any branch, and the decor is vintage 1990s institutional snooze fest. And unfortunately, the customer experience is usually aligned with the decor.  (One notable exception is Umpqua Bank.)

TVA Architects BNBranding's Brand Insight Blog

Ideally, you want to align the look, feel and functionality of your office space with the brand personality, culture and operation of your company.

Easier said than done.

You can’t just take the “about us” section of your website and hand that off to an interior designer and expect a miracle.

If you’re moving into a new space, or thinking of a refresh of your current office, it helps to go back to an honest assessment of your brand… To your core values and your main messages that always seem to get relegated to internal documents and forgettable, corporate mission statements.

Your brand needs a bible.

That way, you always have a clear reference point. A testament. A philosophical road map that can be the inspiration for your marketing efforts, your business initiatives and your latest office makeover.

So when you’re looking at colors and carpet and furniture you can hold up the bible and say, “is this on brand? Is this really us?” Is this the right direction?

When I’m working with a new client I always start with that fundamental. I work with companies to spell out their brand and put it down on paper.

It’s not easy. It requires research, a lot of listening on my part, and a lot of soul searching from the client. (More than most people ever have time for.) But it saves tons of time later on by eliminating false starts when we’re working on tactical marketing items like digital advertising, a trade show booth, a powerpoint deck, or a new corporate video.

Or new interiors, for that matter.

“The right input is crucial for corporate jobs,” says Lisa Slayman of Slayman Design. “When clients are wishy-washy about their brand… that’s when things get difficult.”

The same goes for marketing.

“The best clients are the ones who are clear about what their company stands for. What their brand is. When I see it down on paper, that makes it a lot easier to translate to the interior design job. It makes every decision easier.”

Getting the brand message right and communicating it quickly and clearly is one of the most important things you can do as a business owner. You can’t have brand alignment if you don’t have your brand defined.

Your brand bible should inform hiring decisions, marketing decisions, operational decisions and even finance decisions. It should unite people and provide the crystal clear marching orders you need to move continually in the right direction.

If you don’t have one, call me.

When you approach new office space from a strategic, brand perspective the interior design becomes another opportunity to reinforce a specific set of values and beliefs. You can integrate your brand aesthetic into the everyday lives of your people and your visitors. So if some prospective client just happens to pop in, you’ll leave the right impression.

The brand impression.

Here’s what Apple CEO Tim Cook said about the new Apple Park… “Could we have cut a corner here or there? Sure. It wouldn’t have been Apple. And it wouldn’t have sent the message to everybody working here every day that detail matters, that care matters.”

For more on why brand alignment matters, try THIS post. Bend BN Branding Logo