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As websites continue to deliver information and services that historically required a trip to the branch, creative financial institutions have begun conceptualizing how they can best use their websites to bring people into the branch. A great example is National Iron Bank, who worked in conjunction with Pannos Marketing to launch their new website. The updated website includes a page for each branch to promote local artists, events and other happenings in their area.
Branding is a concept that lends itself to a wide variety of definitions, never mind figuring out what makes yours special. One simple way to think about your brand is to see it as the stories people tell about your institution and the experiences people have with it. Developing a simple summary of your differentiators is a good first step in (re)considering your brand and gaining competitive advantage. A brand snapshot can be a helpful tool to understand your brand's characteristics and ensure that your brand is telling a story that helps you win new customers and retain existing ones.
Friendly, knowledgeable and local are adjectives that most community financial institutions use to describe themselves. However, they also acknowledge that the local credit union or bank that is their most challenging competitor would describe themselves the same way.