Comments on: Your Service Is Not What Differentiates You

By: Kevin Tracey

Kevin Tracey — Wed, 02 May 2012 19:47:43 +0000

I agree that great customer service is not a differentiator. Customers expect good service and if you don’t deliver, you’re out. Great customer service keeps you in the game — but not into the end zone. Making and delivering on a brand promise that gives a “singular distinction” (differentiation with relevance) is the real way to gain brand equity. That said, many institutions need help in learning how to deliver exceptional customer service.

By: Shannon

Shannon — Wed, 02 May 2012 17:40:35 +0000

Brilliant article!! Every FI in NORTH AMERICA should read this and put their thinking caps on!

By: MaryB

MaryB — Tue, 28 Jun 2011 14:47:32 +0000

I raise my hands as a guilty one in believing that ‘We provide Superior SERVICE’ means a thing to the client. Service is the least a client expects, or why else is he in your branch. Very insightful and thought-provoking article. My thinking cap is on my head right now.

By: STRNLE | The Financial Brand: Marketing Insights for Banks & Credit Unions

Thu, 25 Nov 2010 20:21:28 +0000

[...] Reading: Service Is Not What Differentiates You Similar articles previously published by The Financial Brand:Service Is Not What Differentiates [...]

By: ACU Frank

ACU Frank — Tue, 16 Nov 2010 23:18:13 +0000

Think of Henry Ford, who remarked that if he focused on what his customers wanted he would have just bred better horses. No one would have faulted him for listening to the marketplace – but he would have been one of many horse breeders, without that singular distinction Kevin mentioned early in this thread.

Yes, we must pay attention to what our members/customers want to accomplish. But then we need to combine expertise with innovation to find a singularly distinctive way to help them accomplish that. Meeting that challenge is what creates a successful brand.

By: Kevin Tracey

Kevin Tracey — Tue, 16 Nov 2010 14:58:49 +0000

Jeff Stephens is right on. Brands need to reflect the true essence of who they are and what they stand for. Not what they think customers want. Kevin

By: Editor

Editor — Mon, 15 Nov 2010 17:55:46 +0000

Jeff, that's a good point. There's also an article here at The Financial Brand about the difference in these two fundamental approaches to building a brand strategy, "Inside-Out vs. Outside-In." It doesn't matter which approach a financial institution uses. What matters is that they plant their flag in the ground as say, "This is what we stand for! This is who we are!" But most really struggle to get past the most obvious answers.

By: Jeff Stephens

Jeff Stephens — Mon, 15 Nov 2010 17:48:16 +0000

Kevin and Jeffry, the discussion of relevance is a good and important one. My concern is always that banks and credit unions go about things in the wrong way: they look at the market and ask “what does the market want us to be?” and then they become “relevant” by trying to mimic what they think the market wants. The problem with this approach is that it creates inauthenticity. The bank/credit union isn’t being who it truly is…it’s pretending to be what it thinks the market wants just so it can be “relevant.”

The better approach in my experience, is to figure out who you are as a company, be that 100%, and let customers who find your brand relevant to them, be drawn to you. That’s a better approach to relevance in my opinion.

By: Editor

Editor — Mon, 15 Nov 2010 17:43:43 +0000

Kevin, you are right in that simply being different is not what branding is about. As the article "Four Things Your Brand Must Be" points out, the best brands aren't just different, they are different in a meaningful, compelling and relevant way. However, there is a reason brand-builders obsess over differentiation, which the article "Differentiation: The Key to Branding" explores in greater detail.

By: Kevin Tracey

Kevin Tracey — Mon, 15 Nov 2010 16:24:26 +0000

I think the word differentiation is misused in the context of branding. Difference is being different but not necessarily relevant. If I wear an Aloha shirt to a meeting in New York, it would probably show that I was different, but where is the relevance? “Singular Distinction” gives differentiation with relevance, and is a better description for difference with meaning. I also believe that customer service can become a singular distinction if each task performed by stakeholder has the brand values and essence integrated into it. Disney has done this very well. Kevin

By: The 15 Most Common Brand Themes in Retail Banking : The Financial Brand: Marketing Insights for Banks & Credit Unions

Mon, 01 Nov 2010 14:51:48 +0000

[...] This theme is the most common in retail banking, especially among community banks and credit unions. These financial institutions talk about a deeper, more intimate relationship, where they take the time to “get to know you” and “understand your unique needs.” Promises involve more hands-on attention and face-to-face relationships, which should involve things like hand-written notes, personal phone calls, remembering people’s birthdays and making in-person visits, but seldom does. Example: Everywhere you look. Tip: Be careful trying to compete on service. [...]

By: John Fronza

John Fronza — Wed, 22 Sep 2010 16:29:02 +0000

Great Article

It should be a must read for every banker in the United States.

By: Editor

Editor — Mon, 23 Aug 2010 07:58:19 +0000

Brave admission Thomas. Thanks for commenting.

By: thomas

thomas — Sun, 22 Aug 2010 21:42:40 +0000

A very good & timely article. I’m doing a service project for a big bank and I’m guilty of referencing Ritz Carlton. I feel ashamed. Helps me see things a little differently

By: Kasasa

Kasasa — Wed, 07 Apr 2010 16:00:03 +0000

A great post. Love what you say about “working harder to define precisely how your service is different.” We definitely talk about the service at our partner community banks and credit unions as personal, but thinking about exactly “what our flavor is” is a great idea. And thinking about the factors that people use to define quality service has got us thinking as well!

Here’s to infusing a little bit of the Southwest Airlines ‘tude into banking. ☺ Thanks for the ideas!