COMMUNITY BANKING IN 2017 – WHAT WILL STAY THE SAME?

As people in the banking industry prepare for the fast approaching changes that will occur throughout this upcoming 2017 year, it is also important to do the opposite and examine what will stay the same in the financial industry. In other words, there is something to be gained in exploring what will not change. More than just the saying, “If it ain’t broken, don’t fix it,” we can resist the urge to improve or change everything and stick to what does work and use that information to preserve the very root of the community bank model; which is centered on people and relationships, and built on the foundation of trust and the reliance on that trust of the communities you support. The following are a list of items that should be considered to remain constant within your organizations.

1. Community Banks Will Still Serve Communities.

In Ohio, there are some community banks that are located in proximity to urban hubs, but many of you in the CBAO organization are located in smaller or ever rural communities. While there is a tendency to be a shift to virtual or digital banking options in the more urban areas, there is still the need for one-on-one personalized service in community banks, especially in the smaller or more rural communities. So based on geography alone, customers should be marketed to and served differently to accommodate their needs.

Author’s Own Project Photos – Richwood Bank. Photography by Bella Photographics.

Have you ever considered upgrading your facility to make it a compliment to your community? When considering a redesign of or refresh of your branch(es), think about how the branch can still be the heart of the community and how to communicate that through design. For smaller, rural areas or ones with older customers, the concept of making your branch a destination or a place where customers and the community as a whole are welcome can work as it offers a new place for social interaction. Normally a smaller branch may have fewer customers so forming strong relationships and emphasizing the relationships with key customers is important. Changing the environment can enhance the experience and solidify the branch’s place within the community.

2. The Design of the Branch Will Still Focus on the Community Experience.

Take advantage of your loyalty and commitment to the communities that you serve by making connections to it through your environmental graphics and the personalized messages that you present within your facilities, or on the digital message center affiliated with your exterior signage. It is this grass roots approach of establishing an emotional connection between your customers, your staff, and the community that will define and sustain the community banking industry. When considering this approach for your branch, think about more than just incorporating graphics of local landmarks and sports teams but really conveying the elements that make your community unique throughout the space via graphics and nods to the area’s rich heritage through design and décor features.

Author’s Own Project Photos – First National Bank of Durango. Photography by Bella Photographics.

3.Branch Transformation is a Process and Should Focus on People, Technology & Your Unique Market.

The branch transformation techniques that work in one market area or community may not be the right answer for all your facilities. You need to know the demographic make-up of your individual branches. Although technology will be integrated more into some of the branches of the future, it will be increasingly important not to lose sight of the human element. People still want to have access to real people, and a trained staff needs to be accessible. The concept of greeters and Universal Bankers or Universal Associates have been introduced and are here to stay, who are well versed in all the services you offer, but are also very skilled in terms of communication and sales. Make sure your team is properly trained and on board with the transformation – put the right people and the right technology in the right places to provide the ultimate customer service for the unique needs of your customer, while allowing them to choose their preferred service delivery option.

Author’s Own Project Photos – Branch Transformation. Photography by Bella Photographics.

4. Bank Branch Activities are Shifting from Transactions to Interactions.

It is old news that transactions are on the decline at traditional branches, and banks need to be designed and marketed in ways that take into consideration the transformation from transactional based to advisory based training and sales centers. The branch must take advantage of every possible client touch point, not to mention providing a better ROI for the bank by maximizing staffing and operational efficiencies. In addition to studying the customer behavior, branch usage, and transaction data of the individual branch; the design needs to attract customers into the facilities to initiate that original customer relationship but also to market and sell the other products and services your organizations provide. These may be the same services your larger competitors provide, but it is important that your team does so on a more personalized level and with the focus on the local connections.

Author’s Own Project Photos – Forcht Bank. Photography by Bella Photographics.

5. The Aligning of Digital and Non-Digital Delivery Strategies Is of Utmost Importance.

In aligning digital and non-digital product and service delivery, the branch design must focus around making technology and trademark personal service work together to create the ultimate customer experience. It is important that the integration of new technology be considered such as smart ATM’s or Interactive Teller Machines and digital technology, but this approach may only work within specific demographic market segments. Technology should not eliminate personal service, but only compliment it. Digital message centers, touch screen technology, and cross channel integration should be considered and integrated to provide a seamless and omni-channel customer experience, but do so in a way that includes a collaboration between the digital and branch channels. Think technology complimenting personal service opportunities, such as mobile check in at the branch to avoid lines, tech bars that can handle transactions or other customer needs while waiting for personal service, and more.

Author’s Own Project Photos – ITM Technology. Photography by Bella Photographics.

In today’s ever changing and technologically advanced society it is extremely important that community banks make that commitment and strong connection to their communities and never loose site of the history that got them there! The future of community banking is essentially tied to three things that will remain unchanged in 2017 and beyond: relationships, trust, and commitment to the communities they serve.

< Older Post Newer Post >

PANTONE COLOR OF THE YEAR 2024 IN CORPORATE OFFICE INTERIOR DESIGN

By Jeff Klump • 20 Dec, 2023

In the dynamic world of corporate office interiors, staying ahead of design trends is crucial to creating spaces that not only inspire productivity but also reflect the latest aesthetic sensibilities. As a firm specializing in corporate office design, K4 embraces Pantone's Color of the Year for 2024 - Peach Fuzz. This warm and inviting hue offers a fresh perspective on creating contemporary workspaces that balance sophistication and comfort and an opportunity to infuse sophistication, and a touch of modernity into the corporate design landscape. Peach Fuzz, a delicate and nuanced shade blending peach and blush, brings a sense of tranquility and optimism to any space. When incorporated into corporate office interiors, this color has the power to redefine the atmosphere, promoting a positive and collaborative environment. K4 is committed to enhancing the workplace experience, and we recognize the significance of color in influencing mood and productivity.

FACILITY DESIGN FOR RECRUITMENT AND RETENTION

By Jeff Klump • 07 Nov, 2023

In the dynamic landscape of community banking, where the strength of relationships is paramount, the role of design extends beyond aesthetics—it becomes a strategic catalyst for talent acquisition and retention. In an era where attracting and retaining top talent is pivotal for organizational success, the significance of an intentionally designed workspace cannot be overstated. In this article, we delve into how strategic design decisions can not only enhance the physical environment but also foster a culture of engagement, innovation, and long-term commitment among employees, contributing to relationship building and the overall prosperity of community banks. Join K4 on this journey through the intersection of design and community banking, where the blueprint for success lies in the spaces we create for those who make our banks the heart of the community.

THE JOURNEY TO BRAND CONSISTENCY: PART II UNIFYING PHYSICAL & DIGITAL MARKETING ASSETS IN THE BANKING INDUSTRY

By Nicole DeRogatis • 07 Nov, 2023

In the previously published Journey to Brand Consistency: Part I, K4 addressed Facilities, Marketing & People as the three pieces that comprise the Financial Success Puzzle for community banks. This article examines one level deeper in unifying physical and digital marketing assets within the Financial Success Puzzle, and the importance of creating a harmonious and powerful brand identity across all platforms. In the fast-paced and ever-evolving community banking industry, maintaining a strong and recognizable brand presence is vital for success. As a full-service design and branding firm working closely with community banks, we have witnessed the transformative power of consistent marketing assets in bridging the gap between the physical and digital realms. By solidifying the customer experience across all touchpoints, banking institutions can establish a stronger emotional connection with their customers and create a lasting impact on their success. Investing in brand consistency is not only a strategic move but also a reflection of a bank's commitment to their own stability and future growth.

THE JOURNEY TO BRAND CONSISTENCY: HOW FACILITIES, MARKETING & PEOPLE CREATE THE FINANCIAL SUCCESS PUZZLE

By Jeff Klump • 07 Nov, 2023

Now more than ever, brand consistency is of utmost importance to financial institutions. Creating brand consistency goes a long way in building brand trust, increasing customer/employee/community loyalty, and impacting your bottom line. Why is there so much brand inconsistency in the community banking landscape? Because being brand consistent requires change and commitment, and it can be tedious and expensive. Taking the first step is often overwhelming. Where do you start? What do you update first? These are excellent questions, but there are other important questions to consider. What is the cost of NOT getting brand consistent or what is the cost or potential loss of creating brand confusion? Inconsistencies are costing your bank time and money. Not practicing brand consistency will cost you significant consequences to customer experience, brand reputation, and overall loss of trust – all of which can impact your bottom line. Conflicting brand usage accounts for a damage to brand credibility, making it harder to compete in the market. As K4 gets ready to hit the road in 2023, presenting at various community banking conferences on this topic, we thought it was important to preamble this timely subject of the Financial Success Puzzle. At K4, we define the Financial Success Puzzle as a 3-piece formula to creating and maintaining brand consistency for community banks. This formula is simply the act of connecting people to place and connecting brand identity to place. Many retailers have capitalized on this concept for years. Your branch facilities, marketing & people MUST work together to create stability and not only that…they must be triplets, not just siblings. They can’t just resemble one another; they need to be nearly identical in their delivery.

MAKING ROOM FOR THE COMMUNITY

By Jeff Klump • 08 Dec, 2022

For decades, small town business districts across America have featured a strong physical presence from a local bank perspective. Near the courthouse or city hall, these buildings are often identified by their traditional columns and prominent facades of brick or stone. Not only do these structures help establish the fabric of the streetscape; they often contribute to defining the social framework of the residing individuals and neighborhoods, supporting the hopes and dreams of generations. Community banks need to continue to reinforce their presence and values to those individuals and businesses in the geographic areas they serve. Making your bank’s physical appearance memorable, builds brand awareness and offers an opportunity to reinforce the benefits of banking locally which includes working with trusted friends and neighbors. Many community banks are exploring ways to create community space by revitalizing main offices and branch experiences while positioning themselves as a valuable and integral local resource.

SAME RETAIL BRANCH, DIFFERENT CUP OF JOE? THINK AGAIN!

By Jeff Klump • 07 Nov, 2022

Let’s first explore how the definition of the coffee shop has evolved…from simply being a beverage offered at a restaurant to an actual stand-alone destination, service and experience that provides and encourages co-working space, meeting opportunities, and community gathering.