Retail bank design, format planning and branding.
Multichannel mini-transformations across different channels.

The traditional retail banking model, comprising high street banking with digital channels for transactions, is changing. As a result, banks will have to make changes to all their distribution channels. We at the CampbellRigg Agency believe that key developments will be as follows:

Branch networks will be transformed into sales and advice outlets they will become more productive than today and their costs will be considerably lower.

New digital channels will be designed to create a "wow factor" for the user, thereby capturing these channels' full sales potential.

Banks will manage these different channels so that service from the customer's perspective is a seamless "omni-channel" experience.

Without decisive action, banks risk being burdened with an expensive and inflexible distribution set-up. To start the journey, top management should look at metrics and corporate governance in a less branch-centric way and should launch a series of multichannel mini-transformations both within and across the different channels.

Finding the right size branch, the interior designer, branding agency and boost sales performance:
A recent research document released by McKinsey highlighted how branches are becoming more sales and advice-oriented, and suggested that in the light of future customer needs it should be possible to free up 30% of costs by adapting the design of the branch network and to increase sales per front-office employee. This is where the services of the CampbellRigg Agency can impact the strategy for developing the right size branch.

Any branch transformation strategy should be structured around the following issues: The light size branch network - Banks can optimise their branch networks by adapting both the location of branches and branch formats to suit client needs.

Tailoring the footprint - Branch network costs can be reduced by as much as 20%.

Sales can simultaneously be increased through improved understanding of customer segmentation, profiling and behaviour (and more importantly future behaviour, please see Generation Y in our convenience banking services explained) in each micro market, as well as a better aligning capacity to demand. This is not only about cutting capacity, but about ensuring that capacity is situated where it is needed. Whereas "contribution to profit" was previously the main consideration when deciding whether to maintain, open or close a branch, other parameters such as customer experience or access to funding may be as important in a low-interest rate environment.

Differentiate branch formats: Examples of new formats are specialised branches for high-value segments, small service or sales points of 2-4 employees for simple products, and totally automated branches that focus exclusively on service.

Boost sales - Banks can increase the time they spend on sales and use that time more efficiently.

Here is a CampbellRigg Agency insight gleaned from a branch audit programme: - One of Barclays best-performing mortgage teams in the UK, part of Barclays B6 mortgage group, is located directly opposite an internal ATM area of the branch. The mortgage advisors tell us that being located adjacent to an area of high footfall enables each advisor to approach customers with tempting mortgage offers whilst customers wait to use the ATM.
The concept is key to driving sales.

Free-up time for sales by migrating low value-added activities to low-cost channels, in particular, online and in-branch automated channels.

We continually benchmark the best in class operations across the globe and at Westpac Bank and Credit Union Australia in Australia, where new branch formats are emerging (please see images above).

How do our clients benefit from our services?
Promsvyazbank format strategy Moscow.

When the management team of the leading commercial bank in Russia, Promsvyazbank invested in our design and format planning services they discovered it was 15% cheaper to implement our new concept compared with previous turnkey contractor appointments and in addition the Net Promoter Score index, showed customer loyalty moved up from 10th position to 5th position (Please see the Promsvyazbank case study).

Our design team was charged with the creation of the new Promsvyazbank branch formats, planning the interior design, digital and graphic treatment of the branch experience. We designed and delivered the brand environment, the brand toolkit and POS communication.

Ultimately, the in-store retail experience in today's retail world is about far more than just the products. This concept is an integrated digital experience and insistence on interior design excellence. It's about the experience, about injecting creativity and design to put new momentum behind the retail proposition.

By developing a compelling format/channel, we help clients increase sales of new and refurbished stores with sales per square meter significantly ahead of the average.

Marketing and brand design services made simple at the
CampbellRigg Agency in London