This Brand is Your Brand? This Brand is My Brand.

 I’ve been giving a lot of thought to branding lately.  More specifically, consumer affinity with brands and the impact the current economic climate might (does) have on their emotional connection, and ultimately, loyalty with brands.  Let’s choose the service industry for this academic discussion – banking in particular.I, for one, have had my share of negative experiences with banks.  I’ve historically chosen big regional banks for their supposed security and progressive attitude toward enabling electronic transactions.  Evidently the trade off for security and online banking is high penalties (hey! sometimes I slack off on checking account maintenance, so what?  There’s funds in my other accounts, I’m good for it!) and a complex web of procedures and regulations (read: road blocks) that can inhibit really delivering value for a customer.  I’d think a concept like churn would be important to a financial institution; evidently that can be overshadowed by a lack of discretion or authority at a local branch level.

When moving back to Cedar Rapids (IA) about a year ago, I dreaded the inevitable account set-up we’d face.  I actually let my husband select our bank (I don’t let my husband select his own T-shirts, mind you) because I knew finding a “good” bank was unattainable.  The real sense of foreboding came when I realized we also needed a lender for a new mortgage, too.  Oh, the paperwork.  The hassle, the documentation.

My husband selected Veridian Credit Union, formerly John Deere Credit Union.  Long story short, I’ve pledged my allegiance, and my paycheck, to Veridian.  What makes them different from Wells Fargo (boo!) or Bank of America (hiss!)?  Well, it’s simple – they treat me like a valued customer.  An obvious and perhaps even passé’ philosophy, but it’s one that works on me.  And maybe you, too since I’m a brand steward creating my own conversation.

The “Valued Customer” philosophy manifests itself through the way that Adam or Aimee (depending on their schedules) recognize me immediately (uh, I don’t exactly qualify as a “big depositor” so that’s not why).  They are quick with a smile and a kind word, they verify which account I need to use.  They let me email them with transaction instructions, and they even make suggestions about ways to earn a little more, or save a little more.  Sure, that’s simple persuasive selling of their own products, but I’m unoffended because they’ve gained my trust and emotional attachment.

My point is this:  I must have a bank.  I can choose any bank.  And then I can change my mind and choose another bank.  But I make the conscious decision to drive 6 blocks out of my way to Veridian where there is no drive thru (gasp!) and bank with Adam and Aimee.

I believe that strong emotional attachments borne out of a genuine cultural philosophy can help brands prevail in today’s climate.  What do you believe?