Our town has two primary banks that have been in the community for decades. One was recently sold to another company, headquartered about two hours away. I don’t think the ink was dry on the purchase agreement before the remaining bank had banners and signs at all of its locations proclaiming: “BANK LOCAL.”
Previously, local had not been an advantage since the bank that was sold had been family-owned and operating here since 1911, but kudos to the marketing person who immediately recognized that “local” had suddenly become a distinction and jumped all over it.
When is the last time that your organization assessed what its advantages and unique selling points were? The competition changes all the time – adding products and services that now overlap with yours, or, as in this case, deleting a characteristic that formerly was on par with what you offered. An updated benefit review may lead you to rethink your messaging in order to highlight the differences that make your organization special.
