Lloyds bank interior design and branch audit by brand agency Lloyds bank interior design brand consultants

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Future formats for retail bank design and financial services
The retail formats that you adopt will be a mirror of the brand and the platform on which your staff will meet your customers. They should be designed and implemented at a level of image, functionality, quality and durability that delivers the opportunities of the location and financial viability. Any new concept should have the inbuilt flexibility of design and cost to maximise its viability on rollout.

Design consultants of Lloyds Bank audit branches

Branches are becoming more sales and advice oriented hubs at LloydsTSB
Following meetings with the Director of IT and Retail Operations of Lloyds, we were invited to audit their latest retail format. The conclusions following the brand audit aimed to build a format and communications strategy around money/meaning relationships, helping to move a transactions-based financial services operation to a relationship based retail business, shaping the Lloyds proposition around customer insight, based on ideas and for life-needs solutions.

When our audit team interviewed David Cox, Branch Manager of Lloyds Cheapside, David said the branch should be designed to enable staff to interface with customers as they enter the branch. “We need all members of staff to be on the sales floor between the hours of 12 noon and 2.30pm. We want to act like retailers not like bankers.”

Consequently, we base the development of a customer journey within the branch on shopping missions rather than the property style. We produce visual material during the concept stage of a project in order to discuss issues like orientation points, sight lines, information streams, marketing, pathway turning points, flexibility for change and costs. This helps the development team focus on the sales potential of the customer journey rather than constraints of the property.

Brand consultants for Lloyds Bank audit branches

Some City analysts feel the majority of banks are not equipped to win in retail banking. They have a low regard for the articulated strategies of most banks and believe that their management teams are not marketing-driven. They feel most banks do not adequately understand customer segments. Moreover, analysts believe that for many bankers, with their previously trumpeted initiatives, are not delivering measurable results either from independent analysis or in presentations being given by bankers. So the low growth situation in which most banks have found themselves continues to prevail.

Interview point Lloyds bank branch audit brand agency Lloyds bank retail  branch audit brand strategy consultants

This is where we can help improve growth by deploying strategies to transform the branch network into sales and advice outlets where they become more productive than today and their costs will be lowered.

New digital channels will also be designed for customers, thereby capturing these channels’ full sales potential.

Think like a customer
One of the biggest barriers in a branch is the counter. In a recent interview with Michael Heffernan, Director and Shareholder of Dunnes, Ireland’s largest privately owned retailer, said, “We want to think like customers, not like retailers. If we think like retailers we put hurdles and barriers between our customers and us. I want CampbellRigg to develop a more intuitive customer journey for customers who visit Dunnes Stores.”

One of the biggest challenges for Bankers is to free themselves from the Banking mindset of business and think more like customers.
 
Brand Success
Being ‘more like a retailer’ is neither a prerequisite for success nor a cure for your problems. However, if you choose to think like customers and how they engage with retailers there are many ways in which the culture and techniques of retailing can add value to a bank’s own retail proposition. Be prepared to look, try, learn and ask questions! What are the underpinning issues for brand success? Which strategies produce the most traction with customers?

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CampbellRigg is hiring:

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3 Apollo Studios, Charlton King's Road, London NW5 2SB UK Tel: +44 (0)207 2676070

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