The banking industry has seen a massive change in the last decade. More and more people have become inclined towards using the internet for their financial transactions and decision-making. The world has taken a turn towards mobility with 80% of internet-using adults owning smartphone devices, and social networks have started playing a crucial role in reputation-building and marketing.
In these circumstances, it is important for financial institutions to adapt. While brand building has always been a major part of business strategy, it is now more important than ever to offer customers a unique and immersive brand experience whether online or in retail situations. Working closely with a brand development firm can provide a lot of mileage in this regard.
A brand development company takes care of all the various nuances of making a brand shine and providing a memorable experience to customers. Formulating brand strategies, building a persuasive web presence, creating marketing material for successful campaigns and managing customer experience in physical retain locations all fall under the gamut of the brand development process. For a financial institution, working with such an experience design firm can have immediate benefits.
Let us take a look at the three major areas where your financial institution can reap rich rewards while working with a brand development firm –
The Internet – Research shows that 76% of Americans have prior interactions with products and brands before arriving at a physical retail location. Most of this interaction happens on the internet. More than 60% of internet users opt to use the internet for financial transactions. More than 70% of internet users are also more prone to doing business with a financial institution that has a solid presence on social media. These facts show clearly that the internet is a platform full of potential and opportunities, and working with a branding agency can help you leverage it fully. You can establish a strong presence on the web and take advantage of captivating ux web design to drive demand and engagement.
The Mobile Platform – With more than 50% of all banks in the U.S. starting to offer mobile banking services and with growing adoption rates of mobile devices, the mobility platform needs to be a strong target when it comes to brand building efforts. Mobile users attach more important to the overall user experience, and to succeed with the mobility platform you need solid usability and creative design.
Retail Locations – When you have enough fuel to draw customers to physical retail locations, you need to plan and implement the right retail design ideas to ensure that they have a smooth and memorable experience. by fine-tuning your in-store experience, you get a comprehensive and well-rounded brand entity which is conducive to business growth, credibility and reach.
Overall, working with an experience design agency can have both short and long-term benefits for your financial institution. If you are looking for a complete brand development solution that fires on all cylinders, working with a brand development firm is the right route to take.
