The Story

I was at a movie last week that has a particularly large and enthusiastic cult following. The devotees of this film embrace the movie as part of their lifestyle. They go to see it on a regular basis, act out character parts, and actively promote it to everyone and anyone who will listen. This cult classic has become a brand in itself over the years, but the unusual thing is that the people who have built the brand have been the movie’s ardent fans. In essence, they embody the brand.

There are companies that have discovered the benefits of this type of branding. Apple is a good example. Fans of the brand are more than just casual users – they are steadfast in their devotion to Apple and are incredibly outspoken about how wonderful (they think) the company is. This is great for Apple on several levels. First, Apple users are users for life – the company has guaranteed, long-term business from this group of consumers. Second, research has shown that people respond better to word-of-mouth marketing than they do to advertising – and Apple fans are nothing if not overwhelmingly vocal about their love of the brand. Apple is even integrating this into recent iPhone commercials.

Wouldn’t it be cool if a bank was able to create a cult following as devoted as Apple’s? Umpqua is getting there. They are positioning themselves as not only a place to keep money, but also as a lifestyle choice. I can realistically see Umpqua customers becoming key “brand identity preachers” in the future. That should be a goal that all bank marketers and credit union marketers strive towards.

This entry was posted on Wednesday, November 28th, 2007 at 5:54 pm and is filed under Bank Branding, Credit Union Branding, Bank Marketing, Branding, Credit Union Marketing, Umpqua Bank Marketing & Branding, Experiential Brands, Apple Branding & Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.