The danger of not evolving your financial services brand or revitalising its freshness and appeal is perhaps best explained by the Chinese proverb: “If you do not plan for the future, you will get the one that shows up”.
It follows that if you don’t create a crystal clear position, particularly in uncertain times, the market will create one for you. In fact, accidental positioning is one of the most common and critical issues facing financial businesses today. Looking from the perspective of the introducer channel, if intermediaries are unaware of your credit appetite or your lending criteria, then they will rightly or wrongly form their own perceptions as to where or how they should pigeonhole your business.
This applies equally to the positioning of your brand and, as its guardian, it is an imperative to ensure that this doesn’t happen by accident.
At Financial Marketing, we believe it’s time to consign the phrase ‘happy accident’ to the realms of the oxymoron. The opportunity to gain a sustainable competitive advantage comes directly from the ability to create distinctive and powerful attributes from your competitors and to build your customer experience from that solid foundation.