Question

Topic: Branding

Branding Discussion During Merger - Need Input

Posted by bloke1981 on 5/31/2013 at 4:17 PM ET 250 Points
I do the marketing for a local financial advisory firm that is due to a friendly merger with a bank in the next few months. The problem is that the distinctive word in our business name, is also the name of a local bank and competitor.

So say we are: Trusted Financial Advisors
And we are merging with: 1st Bank
and the competitor is: Trusted Bank

(fake names all around by the way)


Due to regulations, our name has to be ——- at 1st Bank.

We want to simply keep it as Trusted Financial Advisors at 1st Bank. Simple and it brings both teams to the table.

They don't want the word "Trusted" in there.

What are your theories on this. I am looking to compile as many arguments to keep it simple (though clunky) and just slam the two together.

They want to come up with something like "Financial Advisors at Better Banks"

Thoughts? We'd be throwing away a lot of marketing dollars and time if we stripped all identity away from ourselves.

Read more: https://www.marketingprofs.com/ea/qst_question.asp?qstid=41481#ixzz2Uu4DNtZ...
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RESPONSES

  • Posted on 5/31/2013 at 5:24 PM Accepted
    This is a subject that really should have considered opinion from an outside branding expert who will dig into the history and existing customer perceptions. If you want that, there are a few of us (on this forum) who can probably deliver what you need.

    If it's just support for your point-of-view you want, then don't bother with what we have to say. It's as likely to be useful as not. This needs to consider the specific name(s), location, brand perceptions, etc.

    (I've visited these kinds of issues for clients before, and I know how tempting it can be to just sell the easy answer.)
  • Posted on 6/2/2013 at 1:20 AM Accepted
    Hope these suggestions will spark interest:

    1st Financial Advisors Bank
    Advisors 1st Financial Bank
    Financial Advisors at 1st Bank
    Advisors at 1st Bank
    Financial Trust at 1st Bank
    Advisors 1st Bank
    1st Advisors Bank
    1st Trust Bank
  • Posted by cookmarketing@gmail. on 6/2/2013 at 6:21 PM Accepted
    Unless it is a lopsided merger...with"1st Bank" being the dominate player...stick to you guns. With the manner banks are merging/branding; the more established clients (read established as also - comfort zone) that can brought under the new umbrella the better.

    If it is a true merger, stick to the best of both and begin surveys in about 18-24 months to detect any needed changes.
  • Posted by Moriarty on 6/3/2013 at 2:59 AM Accepted
    If you aren't allowed the word "trusted" go for something that's a synonym, perhaps?

    Following what Mr. Goodman says, my approach is not to look at the fact that you're trustable, it's WHY your customers trust you. That's something quite different. Usually innocuous yet it is magnetic for your best clients. What's more, it's what they'll find as being specific and accurate in describing your services. With a helpful client, this is something I can usually nail in the first consultatory phone-call. Again, as Mr Goodman says, using the "easy answer" is tempting, it's also dangerous. Banks however, are often the kind of people who are very hard on the outside, yet weak when it comes to temptations. You have been warned.
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