My wife and I took a trip to Waco last fall. Let me rephrase that…my wife and took a trip to Magnolia last fall. We did all things Magnolia: stayed in one of their properties, ate breakfast at Magnolia Table (I highly recommend the biscuits and gravy) and shopped at The Silos.
It was incredible. It was also quite the branding experience. There are so many lessons credit unions and community banks can learn from Magnolia. Some people even refer to Chip and Joanna’s brand impact as the “Magnolia Effect.”
Here are four ways to have bank and credit union branding like Magnolia:
- It’s all about the brand - Wherever you go (shops, restaurants, properties, etc.) inside their vast empire, you know it is a part of Magnolia. The overall brand. They stay “on brand” at all costs. This includes logo usage, fonts, products, style, words and image. They never deviate from their vision and values.
- Application Point: Understand the most valuable asset you have at your credit union or bank is not on your balance sheet…it’s your brand.
- It’s all about the experience - If you ever have the chance to visit Waco, take it (who knew I would ever write those words). From the greetings to the grounds at The Silos, it was truly an experience. Places to sit, play cornhole, grab a snack. You can truly immerse yourself in all things Magnolia.
- Application Point: Look for ways to elevate your bank and credit union branding experience. Answer the question: “what can we do to wow consumers?”
- It’s all about the details - When we stayed at one of their properties, the attention to little details was amazing. The TV was tuned to The Magnolia Network, the house was filled with things from their store and it had that Joanna decorative charm.
- Application Point: Remember that details matter. How your restrooms smell, how your branches look and how your employees greet consumers all make an impact.
- It’s all about consistency - One of the three “Cs” to a strong brand is consistency. And they have that in bunches at Magnolia. Their employees are consistent. Their products are consistent. Their shops are consistent. Their restaurants are consistent.
- Application Point: Examine where you have “brand gaps” when it comes to your bank or credit union branding. Look for ways to bring more consistency with your look, your messaging, your employees and your marketing.
Chip and JoJo haven’t just built a brand; they’ve built an empire. They’ve grown exponentially through the years…but Magnolia shows that growth all starts with your brand.
Are you ready to jumpstart your growth with new bank or credit union branding? Book a free consultation now. We help financial organizations of all shapes and sizes build an identity consumers (and staff) love.
