Let’s dive a little deeper. As marketers, we all know that storytelling is crucial for consumers to see, hear, and understand your brand. But how do you start creating your brand’s story? Here we’ll go over three questions you need to answer to start telling your bank’s brand story.
What Do You Offer?
This seems like a simple question but you must have a detailed answer. Explain how your bank’s services and benefits differs from the competition. Your consumers must first understand the basis of your brand and what it provides to the market. For example, what makes TD Bank different from competitors is that they provide their services on Sundays when other banks are closed. This is part of the reason their slogan is “America’s Most Convenient Bank.” They use their services and what they make different to tell their story.
How Will It Make My Life Better?
Here is where you speak directly to your target audience’s pain points. Explain why they would need your service and why they should pick you over the competition. This question will help consumers understand your brand and why its needed in their lives. Lakeland Bank uses customer testimonial videos for small business owners to explain how using their services has made their life better.
What Do I Need to Do to Buy It?
The answer to this question is important – the simpler you make the buyer journey the better it is for the consumer. If you make the process of buying your service too difficult, then you will lose consumers on the way. By explaining what they need to do to buy your service or product, they will understand the next steps to get what they want (a solution to their problem). Chase Bank has a page on their website explaining how customers can open a bank account. This makes it easy for them to move through the buyer journey and perform the desired action.
Final Thoughts
When it comes to telling your brand story, you have to be very strategic for how you want to position your brand. By using these three questions, you will be on the right track to positioning your brand in your consumers’ minds.
The next step after creating your brand’s story, would be to build brand awareness. Here are my top tips for banks to create top of mind awareness.
