Byline Financial Group A roadmap for brand change
North Community Bank was a regional bank with 91 branches and $2.2 billion dollars in deposits. For years, the Bank had done business the greater Chicago market under six different names. When it was sold, the new owner decided to unify under the new name, Byline Bank.
At the time of purchase, the age and condition of the branches and use of branded assets varied greatly. Customers could clearly see huge disparities, especially in signage and branded environments. The newly named Byline Bank needed to figure out the best way to transition to a new, united brand. That meant understanding exactly how much it would cost and how long it would take to bring a fresh, consistent brand experience to stakeholders.
BrandActive was engaged to develop multiple brand transition scenarios along with scope and cost estimates for each. With the support of representatives from key functional areas of the company, we gathered information about the Bank’s branded assets. All uses of the brand—from signage and marketing and HR materials, to ATM machines, IT systems, and online and mobile banking apps—were inventoried.
Using that data, we developed three viable implementation scenarios. Each scenario differed in cost, application quality, and timing of replacement. Some branded assets at the corporate office and top-tier branches would be transitioned for Day One launch, while other touchpoints could be addressed over the following months. We worked with the Bank’s internal resources to assure they were comfortable with their capacity to transition within the timeframes outlined in the scenarios envisioned.
The scenarios capitalized on the opportunities presented by brand change. We identified ways to realize economies of scale and consistency by procuring key assets centrally and according to defined specifications. We examined the implications for ongoing brand management. For example, installing a new signage system would reduce normal operating maintenance and replacement costs.
In addition to scoping, estimating, and providing options to convert each type of branded asset, BrandActive developed a roadmap for the implementation phase of the project. Byline Bank’s roadmap for brand change and unification included major milestones, timelines and activities. By following the BrandActive plan, Byline Bank would be able to achieve cost reductions of 10% to 30%.
“By following the BrandActive plan, Byline Bank would be able to achieve cost reductions of 10% to 30%. We truly enjoy working with your team and we find tremendous value in your talent.”— Senior Vice President, Byline Bank