The Story

I actually think FindABetterBank.com is a good service…I just couldn’t resist the headline, though, to illustrate my point that FindABetterBank.com is missing one big component: brand.

Here’s what I mean. People don’t switch service providers for ONLY rational reasons. Sure, there are many rational factors that influence a bank change (fees, rates, locations, service quality, etc.), but there are brand-related factors too. They switch when they want to go with a bank or credit union they can relate to…one that stands for something they align with. In other words, a brand that resonates with them. I think FindABetterBank.com would be much cooler if it added a component that matched the customer’s personal values with the bank or credit union’s values. It would only take a few more questions to add this functionality.

Of course, that does require one important thing…that banks build strong brands customers can clearly identify.

Check out The Banktastics blog for more live coverage of Finovate Startup 2008.

This entry was posted on Tuesday, April 29th, 2008 at 8:55 am and is filed under Other, Bank Branding, Credit Union Branding, Bank Marketing, Branding, Credit Union Marketing, Corporate branding, Bank marketing plan. 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.