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BirdsEye View

 All companies have an implied promise in their brand. For many, the brand is just a word. For others, it represents a commitment to something specific - service, the environment, innovation etc. Most non-universal banks make their brand promise explicit through a mission statement, vision and strategic goals. They look to service as a primary differentiator, and translate it into their culture-related principles and documents.

The words typically used to describe the experiences guided by this brand promise are often not unique enough to send a clear message both externally and internally of the company's differentiation strategy and approach to fulfilling their brand promise. One notable exception to this generalization is Renesant Bancorp, which uses the following words to describe their identity: Southern, cool, empathetic, fun, understanding. These words are unusual, and they sure paint a picture!

One bank who has done an exceptional job in this area is Bangor Savings Bank, a $7+B bank in Northern New England. The company's tagline supports its mission since the Bank’s inception 170+ years ago, an achievement in itself. The Bank’s tagline, YOU MATTER MORE remains true today to the mission of their founders, which is to deliver their You Matter More promise to help their employees, customers, and communities prosper. Doesn't this say it all? In case it doesn't, the following sentence expounds on the concept to avoid any misunderstanding: "We promise you a level of caring, support and investment that shows you matter more here - because we exist to put the well-being and success of our employees, customers and communities first". Bangor is a mutual savings bank, which facilitates its ability to make such a sweeping and deep statement.

The point is, the statement and the tagline are both crystal-clear. They paint a picture.

The bank spells out their brand platform using six sentences. While some can be found in other banks' brand and mission statements, others are unique.

1.      Treat caring as a tangible banking asset

2.      Celebrate moments of genuine humanity

3.      Make marketing an expression of our community commitment

4.      Demonstrate our true connection to local people and communities

5.      Confound expectations for local bank innovation & sophistication

6.      Break the molds of conventional bank branding

Each one of these statements is "translated" into several bullet points that help all readers.

See the best in people

Shine a mirror on what makes our communities worth everything

Elevate the little things that matter so much to all of us

These thoughtful sentences help all associates operationalize the various elements of the brand and act on them as they were intended. They also serve as guideposts for decision-making at all levels. Culture has always mattered in any business. It serves as the heart of the organization and the context for decision making. Since COVID and the remote working environment, many of our leaders struggle with bringing the culture alive to their new team members when they are not on site every day. Thoughtfully and clearly spelling out your brand promise and what it means will help you bridge some of the gaps in understanding your company's culture and how to act on it in different contexts.