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| Building Financial Brands |
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Banks and insurance companies have made significant investments in marketing and brand building. However, it is fair to say that very few of them have been successful in creating a relevant, differentiating brand that connects with the consumers. In fact, the reverse is true:
There’s a deep resentment about banks and insurance companies among a large number of customers (unrelated to the recent crisis). Can banks ever become “likeable” brands as we witness in other categories? Sure, they can. They have to. If the consumers can have an emotional connection with a bar of soap, why can’t they be closer to a “brand” which is instrumental in their family’s well-being and future?
