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Insist On The Brand's Key Assets

A bank is also a brand—as Roger explained to Paul Morgan:

Paul: “I need to take more time and maybe consult my other bank.”

Roger. “Mr. Morgan, I understand that the choice of the financial

institution is key. We have been, for over half century, truly the leader in servicing families who want to build up their financial stability, and in providing necessary protection for their wealth. I believe that time will prove that we have nothing better to tell you, other than we are one of the most trustworthy organizations in the life insurance business.”

Once you know what the key brand assets are, you need to tell customers, repeat them and insist on them. This is what is going to make the difference in the end. For Paul, what is crucial is not the financial charges—which are very difficult to calculate—nor is it about the yield over the next 20 years—which will be more speculative than rational. Rather, it is definitely all about the trust, the sentiment that “this is the bank I need.”

Never take it for granted that your customer knows the assets of the brand. The benefits of evoking a brand are that, after you mention it, your customer will tell you how much he or she knows. And if there are any doubts, it will be an opportunity to deal with them. If you manage to defend your brand and convert your customer, you are halfway to finalizing a successful sale.

Paul: “Many institutions look the same to me.”

Roger. “It is true and I really think that customers like you can discern

true heritage from the marketing-speak. Our bank was founded in 1875, and has continuously serviced private clients like you. To us, you are not only a client but you are part of our tradition, our reason for being.”

 
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