After over a year of planning and consultation, Penrith Building Society launched its new brand at Penrith Show on the 27th July.
The Building Society, like any other business constantly reviews its strategy and over the past few years has had to contend with the global financial crisis and also a severe recession. In a tough market, the Society needs to remain competitive and attract new customers, but also embrace new marketing concepts, such as digital marketing.
One of the main objectives in the Society’s strategic review was to look at how the Building Society represents itself through its brand. The old brand had served the business well over many years but it was felt that it didn’t fully reflect what the business was about. In order to begin the process of refreshing its brand, the team enlisted my help in mid 2012. I began by working with the staff of the Building Society to develop ideas and concepts that they wanted to convey in the new branding. Once a clear direction was identified, I enlisted the help of local firm, Jili Allen Creative to develop a range of graphic concepts to give a flavour of what could be achieved.
It was important that staff members of the Building Society embraced the new brand, that it got approval of board members and most importantly that it was appealing to customers. Focus group meetings were held with a cross section of local people from school children, business people, parents and grandparents. The Building Society also held an open day during the Winter Droving event in the town and invited people in to look at the proposed concepts. I analysed the feedback received and some clear conclusions could be drawn as to how the brand should be taken forward.
The approved concept is more contemporary and the original seal has been used incorporated into a logo which is more legible. The strap line “Building Society for Life” has also been used to remind people that the Building Society provides a service for customers that can follow them through their lives from junior savings accounts, mortgages for first time and seasoned buyers, general savings accounts and insurance. The Society wanted the brand wanted to appeal to a wider cross section of the community both new and existing customers who have been members of the Society for many years.
The new brand is reflected in promotional literature such as posters and new brochures, folders and forms as well as business stationery. The launch will take place in several stages and will be rolled out from the 27th July.
Chief Executive Amyn Fazal comments,
“We are delighted with the results of our brand development project. The new brand reflects our position as a modern mutual with traditional values and we hope all our customers like it as well. It was really important for us to get this exercise right so we could attract new customers, but also still appeal to our existing and loyal members. We remain open to new ideas, new ways of working and our aim is to continue to deliver simple, great value products with the kind of personal service that we are renowned for locally and we would like more people to know about us and what we can do.”
The next stage over the coming months is the launch of a new website followed by work to reflect the new brand in branch in order to create an atmosphere that is professional, warm and welcoming…watch this space!!