What We Can Learn from ING

I could not agree more with Brady and Jeff’s postings regarding the issue of brand being critical within financial services.

I was out for my morning run the other day and ran by the new ING Direct Café “branch” in the Gold Coast neighborhood of Chicago. The time was 6:55am and when the manager saw me peering through the window he rushed over to open the doors and let me in early even though they did not open until 7:00 am.

I believe that traditional banks and credit unions could (and had better) learn a lot from the forward thinking companies like ING. Adapt or die, or at least fade into compete and total irrelevance!

A facility is a physical manifestation of the commitment to brand, target market and business philosophy of any financial institution, and ING certainly embodies this commitment. When I toured this 5,000 square foot space I was constantly reminded of the visual, verbal and experiential elements of a brand, and how this was successfully executed in this space. The visual elements are everywhere: the corporate orange color on the walls, the orange in the coolers, water bottles and sweatshirts for sale, everywhere there were reminders that I was in this great financial superstore.

The verbal elements of brand were everywhere. I spoke with two team members and they both engaged me in conversation, and when I told them of my work as a consultant, they invited me to bring in clients to tour the space, use the meeting areas, try the online experience and share a cup of coffee.

The experiential elements were everywhere: from the Pete’s Coffee and Tea they serve (branded as ING of course); the computer monitors everywhere inviting me to engage with the ING brand and portfolio of offerings. The manager reported that the daily foot traffic is more than 450 people per day visiting the “branch”. That is more that most traditional banks and credit unions see in an entire week!

My experience in the physical space itself was uplifting in that it was light, airy, open and I had this feeling of “optimism” that financial services really is transforming. As I reflect on this experience at 7:00 am on a Tuesday morning I am reminded that what I keep preaching to our clients is beginning to materialize. Customers want to be engaged, entertained, catered to and want a financial services ally who will help them plan for and achieve their goals, and not have products and services “pushed” onto them that they don’t need.

My experience with the ING branch was the epitome of this belief. I was delightfully surprised at how upbeat and engaging the ING team was with me. No, actually, come to think of it, I was not surprised at all.