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Beyond Branding - How Wealth Managers Can Thrive In The "New Normal"
1. Ago Cluytens
ago@brandingthroughpeople.com
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Beyond Branding
How To Thrive In The New Economic Reality
6. “Brand value has never before eroded as
quickly as it has in the financial services
sector during the 2008–2009 period.
As a group, financial services brands
have lost a third of their value in a matter
of months.”
-- Interbrand 2009 “Best Global Brands”
10. “At the height of the
crisis, when customers’
trust was at an all-time
low, each and every
brand was affected by
the general mistrust
prevalent across the industry -
leaving no brand untainted
or unchallenged to maintain its
reputation.”
-- Interbrand 2009 “Best Global Brands”
11. Brands that invest in marketing during a
recession tend to gain market share when
the recession ends.
If the message is right and the campaign
is well executed, the investment will pay
off in the long run.
13. “"There’s not one person involved in the demise of Lehman Brothers,
Bear or even the troubles that have fallen on Citigroup who thinks
they’re living happily ever after," Mr. Solomon said, "because their
reputations have been tarnished, and what do you have at the end
of the day but your reputation?"
(NY Times, Flickr.com, CCL, pdstahl)
16. The Internet and Social Media are opening the
floodgates of competition
17. “The really exciting innovations in
financial services weren’t coming from
the big banks.
In addition to peer-to-peer networks, we
increasingly saw new entrants like
telecommunications companies,
software firms and retailers offering
alter native financial services that
harnessed advances in messaging and
Web-based-technologies.”
-- World Economic Forum, “Technology and Innovation in Financial Services: Scenarios to 2020”
18. “What if Starbucks opened an online-only
retail bank offering competitive deposit rates
and a modest range of loans and mortgages?
It could do that by partnering with a finance
company such as ING, which has the
appropriate banking licenses.
All it would need to do is install ATM machines
in its outlets, which would involve investing
some money but would allow it to get more
out of its existing branches.”
-- John Gapper, Financial Times
21. trend 01 + trend 02 + trend 03
= result 01
Branding is top on the
boardroom agenda
22. “What do you, as CEO, consider to be
your organisation’s current top
differentiating factors ?”
-- PwC, “Global Private Banking And Wealth Management Survey 2009”
23. Brand Value 210
Quality of CRMs 127
Product Open Architecture 106
Investment Performance 62
50 93,75 137,5 181,25 225
33. “As a lawmaker, I am concerned about your
financial survival”
34. “As a client, I am concerned about
my financial health”
35. “As a client, I am concerned about
our relationship”
36. Clients are no longer looking for complex
products promising high yield, but rather
trusted and independent advice that
addresses both their short- and long-
term needs.
37. “Most of the financial services brands’ recent
advertising campaigns focus on strength and
stability, something that may prove to last
beyond a momentary marketing campaign.
While the cynical may say that the world will
quickly revert to the impetuous motivations of
a 2007 bull market mentality, there is a subtle
yet profound change in how customers are
going to evaluate their service providers going
forward.”
-- Interbrand 2009 “Best Global Brands”
38. 96%
see clients are demanding increased
transparency from their bank and simpler
to understand products.
-- KPMG, “Private Banking In Switzerland, Quo Vadis ?”
39. Which business model is likely to do well in
the next three years ?
“Pure Play” 60
Hybrid Integration 28
Universal Bank 29
Independent Asset Managers 50
25 35 45 55 65
-- KPMG, “Private Banking In Switzerland, Quo Vadis ?”
40. Those that are likely to do well, are those
that from the crowd.
✔
stand out
41.
42. ”We accept that clients belong to the CROs in
the first place, and not to the bank. That, at
the end of the day, creates happy CROs,
happy staff members, and happy clients”.
-- Jean-Pierre Cuoni, EFG Chairman
43. 03
How Forward-Looking Companies Can Benefit
Moving On