Branding for financial services goes wrong for a few main reasons: misalignment, the brand is not lived by employees and you don’t control your website. Identify these problems now so they don’t destroy your organization later.
Think of it this way. You hear the crackle of the fire as logs slowly disintegrate. A part-ash, part-marshmallow, part-pine scent floats through the air as darkness between the trees closes in on you. There are several team members sitting around the fire, and the most experienced one clears her throat.
It’s time for some scary stories.
But unlike the classic tale of the hook-handed villain, these scary stories about branding for financial services are real possibilities. Real threats set on compromising your success. And they don’t exist in creepy forests…they exist underneath fluorescents and between cubicles.
Scary Story #1: The Big, Bad Branding Misalignment
Rebranding your organization is a major project, and you need absolute alignment when choosing to embark on it. But let’s say that doesn’t exist. Senior leaders and the board agree in general on a rebrand, but each want different things. Instead of hashing out the differences, they don’t communicate or have the other group’s views represented in meetings. Or maybe there’s just someone too intransigent to come to a final decision.
No matter the reason, the final name, logo or strategy loses a vote in the board meeting or lacks buy-in with senior leaders. Someone decides that ChatGPT would be better at making the new brand…or maybe there’s no new brand after all. Just think of all the money you burned in that atmospheric campfire.
How do you stop this from happening? Get on the same page before branding for financial services. Align all leaders around your goals. Ensure all stakeholders are represented.
Scary Story #2: The Nicest Person to Ever Not Do His Job
There’s an employee – let’s call him “Joey” – who is the nicest guy around. Everyone adores Joey. He’s like your son or brother or best friend. However, there’s one problem…Joey doesn’t do his job. He misses deadlines, zones out during meetings and stalls projects. But he’s too nice to part ways, right? In the long run, you lose some consumers and opportunities because Joey misses deadlines.
What do you do in this situation? It’s painfully simple and hard all at once: part ways with Joey. He may be nice, but he’s holding the organization back. You of course want nice folks working for you, but they must also pull their weight.
Scary Story #3: The Website That Never Stops Taking
There’s a website that acts more like a leech. It has a never-ending contract with yearly fees, you must pay to add PDFs to the website and you’re never able to have as much control as you want. Sure, it looked cheap when you had it built. But it’s now an expensive surprise.
What should you do? Get out of that contract as soon as feasible! A website is a big part of branding for financial services. Plus, you deserve to own and control your website…all while not getting nickel-and-dimed for every little thing.
An Eerie Warning About Branding for Financial Services
Finishing her stories, the experienced team member states, “And they say these problems are still out there…right now…waiting to destroy organizational success.”
Do you know if any of these creepy tales are playing out at your organization right now? Look around. There may still be time to stop them.
On The Mark Strategies helps you avoid branding and website horror stories. Book a call and get set up for 2027.
FAQS: WHY BRANDING FOR FINANCIAL SERVICES GOES WRONG
What are the most common reasons financial services branding fails?
Three problems come up most often: leaders who aren’t aligned before a rebrand, employees who don’t live out the brand or pull their weight, and a website the organization doesn’t truly own or control. Each one quietly undermines the brand, so it’s worth spotting them early.
Why do rebrands fail even when leadership agrees one is needed?
Agreeing on a rebrand in general isn’t the same as agreeing on what it should be. When senior leaders and the board want different things and never work out those differences, the final name, logo, or strategy can lose a board vote or lack buy-in. The result is wasted money and sometimes no new brand at all. Before starting, align every leader around shared goals and make sure all stakeholders are represented.
What should a financial institution do about a well-liked employee who isn't performing?
Part ways with them. It’s simple to say and hard to do. A friendly employee who misses deadlines, disengages in meetings, and stalls projects still costs the organization consumers and opportunities. You want kind people on your team, but they also need to do their jobs, because the brand is delivered through what employees actually do.
How does a website contract hurt financial services branding?
Some website arrangements look inexpensive at first but turn costly over time, with ongoing contracts, yearly fees, charges for basic updates like adding PDFs, and limited control. A website is a central part of your brand, so these restrictions directly limit how you present yourself to consumers.
What should an organization do if it's stuck in a restrictive website contract?
Get out of the contract as soon as it’s practical. Financial institutions should own and control their websites without being nickel-and-dimed for every change. Full ownership makes it easier to keep the brand current and consistent.
