Tag: Branding

Good brands are built to help organizations predict and thrive through change. Often times, that change is external and at a market level. The healthcare industry is no different, and is currently experiencing a series of shifts that not only impact businesses, but brands.

Admittedly, when we speak of the healthcare industry, we reference a broad ecosystem of people and organizations that include clinicians, payers, patients, medical device companies, pharmaceutical companies, hospital systems and more. So while there are trends that are exclusive to individual players, in a connected ecosystem like healthcare, a change to one stakeholder group often impacts the others. Here’s what we believe are the pervasive trends in the industry:

• Increasing costs for labor, supplies and equipment

• A significant labor shortage, especially in rural hospitals and networks

• Consolidation of hospitals and networks leading to a smaller pool of decision-makers with outsized influence

• The rising frequency of direct patient care, a seeming response to patients demanding quality, affordable care

• Value-based care isn’t new, but it is becoming a more prevalent conversation year-over-year

• The exploration of how evolving technologies, such as AI, have a role in areas including patient care, facility management and medical resources

• Regulatory bodies and governments continue to look at drivers of healthcare companies and are poised to impose big change on things like technology, reimbursement, and drug and treatment affordability, among other key areas

Amidst the backdrop of these trends, long-standing dynamics continue to impact what makes a brand successful in healthcare, strategically and creatively.

Strategically:

• The ever-growing role of VACs and administrators in decision-making requires suppliers to make a compelling case around value—and care using benchmarks that speak to these groups (e.g., improved outcomes, reduced risk, shorter LOS)

• Regulation also has impacts on brand development as it can create guardrails that limit creativity, extend approvals and require unexpected collaborations

• Outreach to clinicians must be done with the knowledge that clinicians “own” the patient and any messaging and marketing should respect that boundary

• Clinicians, many of whom are also members of VACs and have an administrative role in decision-making, are very literal; high-concept messages and campaigns do not connect

• Arming the patient is increasingly important; with the advent of technology, they are doing their own research and becoming their own best advocates. Along with caregivers, another key influencer, patients are no longer looking to be disintermediated. Even those organizations who haven’t traditionally gone DTP (medical device and pharma, for example) must adapt

Creatively:

• Visually, cooler tones are more popular and appealing because of their calming and positive nature. However, they are not ownable and need to be combined with other palettes, patterns or graphics to create distinction

• Lifestyle images with patients and families are more relatable and approachable, but are also very common. Abstract/conceptual imagery does not connect well, but is another way to complement and create distinction

One last thought

And last, but certainly not least … like many other industries and organizations driven by product revenue, many healthcare companies are debating the value between performance marketing and brand marketing.

Which will prevail? Which is more impactful for healthcare organizations? The answer is… both.

Within healthcare especially, it is imperative that companies invest in both performance and brand marketing. While product marketing is undeniably a lifeline of an organization—be it drug, therapy or device—trust is even more vital in healthcare. And that trust is embedded at the brand level, serving as an umbrella that enhances equity for all the products and services beneath it. Equity at the brand level gives you goodwill, higher familiarity, a shorter sales cycle, permission to expand beyond your core and possibly, permission to make a mistake. Most importantly, brand marketing can be measured as well as performance marketing. Want to learn how? It’s one of our favorite conversations here at Tenet. We look forward to chatting.

When thinking about your brand, it pays to consider what’s truly at its core.

The strongest brands are built on fundamental truths that have to do with what they actually do and why, rather than the surface details that first spring to mind.

There’s a seemingly simple, yet surprisingly deep, question to ask: What business are you really in? The answer can profoundly impact both brand and business strategy.

Two examples show why this question matters: Apple and Amazon.

Apple isn’t really a technology company

In the mid-1990s, Apple was going to market as one might expect. It cast itself as a computer company, making technologically superior hardware and software. Its entire marketing strategy was built on the products themselves.

In 1997 Steve Jobs returned as CEO and embarked on a radical transformation of the brand that ultimately yielded the Apple we know today. While on the surface the push had to do with product innovation, arguably the underlying big idea behind it all was that Apple isn’t really a computer company at heart: it’s a lifestyle company. The products are simply the means to an end.

Looked at through this lens, the entire arc of the Apple brand for the last quarter century snaps into sharp focus. Every product, from the iPod and iTunes, to the iPhone, Apple Watch, iPad and the MacOS, contributes to a deeply intertwined, increasingly seamless and incredibly sticky digital lifestyle.

The brand has been carefully curated to play into this big idea. With every new product release there’s talk of the latest features, performance improvements and innovations, but at the heart of it all is the experience that Apple products deliver: the lifestyle.

Amazon isn’t really an online retailer

Another great example of a counterintuitive big idea driving a brand is Amazon. To most people the Amazon brand is synonymous with online retail, even though its online retail business brings in less revenue than B2B offerings such as Amazon Web Services and support for third-party merchants. But despite the public perception, at the core Amazon isn’t a retailer: it’s a distribution company.

Domestic competitors like Walmart and overseas outlets such as AliExpress have tried to replicate Amazon’s retail success, but haven’t really made all that much of a dent. Amazon is somehow different, and that difference is the smoothness and ease of doing business with the company.

The success of the Amazon brand is driven by the big idea of hassle-free, fast delivery. It’s easy to find what you need, easy to buy it, and delivery usually happens with incredible speed—sometimes within hours. Contrast this with Walmart’s price-centric approach, building its brand and business on “Every Day Low Prices.” It has also used slogans such as “Always low prices. Always.” and the current “Save money. Live better.” Walmart is at heart a retailer.

Amazon’s whole brand—even the business operation itself—is built around the big idea of getting people what they want as quickly as possible. The reversible logo is both a smile that hints at delight and a swooping arrow that communicates motion and speed. Even the small details, such as the ability to get delivery at Amazon lockers instead of your home and the ease of returning goods by dropping them off at partner retailers, all contribute to that central thought.

Amazon’s clear understanding of the true nature of the company and why it matters to its customers makes executing on the big idea possible. It could promote low prices and wide selection, but that would lose the essence of what makes Amazon unique.

What drives your brand?

The takeaway from high-profile examples such as these is that there may be an opportunity to elevate your brand above your competition by breaking free of conventional thinking about your category. Both Apple and Amazon, in a certain sense, asked the same questions: What’s the big idea behind what we do?

Both of these examples show the value of taking a step back and asking what your organization is all about. Doing so can bring clarity and purpose to your brand and marketing strategy—and even provide a north star to guide business strategy going forward.

This is the first post in a five-part series designed to help organizations navigate the journey of finding their ideal branding partner.

You’ve decided to hire a branding partner—congratulations, we applaud that choice! But now what? Starting an agency search from scratch can be a daunting task, but finding the right partner to help take your brand to the next level is critical. As you begin your search, it will be helpful to think about the below areas:

Determine who needs to be involved from your organization

Map out the stakeholders that should be included in the selection of your agency partner, as well as throughout the course of the actual project. Who should be a decision-maker, who should have a voice and who should be kept informed along the way? Also think about the teams in your organization that a branding engagement will directly impact. For example, you might have internal marketing, creative or production teams that should be brought along throughout the process to give them a sense of ownership and buy-in.

We have found the most successful projects build excitement and gain consensus from all stakeholders from the start. One of our clients even produced a 10-minute inspirational video to sell in and excite management about their upcoming rebrand project. This resulted in both positive anticipation, as well as assurance that all stakeholders had similar expectations for the process and the outcome.

Establish your process

Every agency search journey looks different. There are several steps you could include (or not) in evaluating potential partners. The process could start with issuing a Request for Information (RFI), to scheduling a capabilities presentation, then issuing a Request for Proposal (RFP), and finally inviting agencies to an in-person or virtual pitch meeting. All steps have merit based on what works best for your organization and how you make decisions. We’ve experienced everything from a phone call that leads to a partner decision in a few days, to a multi-step and meeting-intensive process that lasts several months.

Make a list of criteria

Think about the qualities and characteristics that are important for your ideal partner to have, such as:

• Agency size: Big, small or somewhere in between. There are many tradeoffs with agency size. Maybe you prefer a large firm with a renowned reputation and global presence, but you might risk being a small fish in a big pond. Or maybe a smaller, lesser-known agency is a better fit, as they can be more nimble and dedicate senior-level attention throughout the partnership.

• Industry or business challenge expertise: Do you want a partner with deep experience in your space who can speak your industry language or an agency that will bring a fresh perspective with out-of-category experience? Perhaps you want an agency with expertise in navigating situations such as branding after a merger or acquisition, preparing for an IPO, or capitalizing on growth after private equity investment. While specific experience relating to your situation can of course be beneficial, don’t necessarily count an agency out because they don’t have it—they might just be the ones who find that differentiating nugget to build your brand around.

• Service offerings: Agencies vary in their scope of offerings. Some tout a full range of capabilities from brand insights to implementation, while others focus on specific practice areas such as packaging design or brand name development. Identify the combination of services that are most important given your branding needs. If you are undertaking a rebrand, look for a full-service branding firm.

Find agencies that match your criteria

Now it’s time to start searching for potential partners that could be a good fit. There are several resources you can use to build your list:

• Referrals: Ask your colleagues or others in the industry if they have recommendations based on a good experience. We receive most of our new business leads from word of mouth and referrals.

• Ranking sites and lists: Ranking sites such as Clutch allow you to filter agencies based on several criteria. Other organizations like Gartner or the 4A’s publish lists and provide customized recommendations to members.

• Search consultants: Alternatively, you can hire a search consultant to run the process for you. This option typically requires a significant monetary investment, but the consultant will do the heavy lifting in shortlisting potential partners that match your criteria. The 4A’s publishes a list of search consultants if this route makes the most sense for your team.

Make a list for outreach

Determine how much time and effort your team can dedicate to a search. Keep in mind if you move forward with a long list of agencies, reviewing a multitude of proposals could be cumbersome and overwhelming for your team. But alternatively, if your list is short, you risk not all agencies responding which would significantly narrow your field. If your team is wavering on the ideal agency characteristics (for example large versus small), you can include a few from different categories to determine what feels best during the pitch process.

And finally, remember to be open-minded throughout the process. You might be surprised what types of agencies and people click with your team.

Stay tuned for the next post in this series about how to craft a productive RFP.

While consumer brands can lean on the experiences their products deliver to tell their story, services firms don’t have that luxury. They must build their reputation on expertise and relationships. The way forward isn’t found in flashy campaigns or clever taglines—the creation of a successful professional services brand comes from understanding, and addressing, what truly drives client decisions.

In the push for growth, many professional services firms lose sight of what matters to clients. Selection isn’t made solely on the basis of cost or capabilities. Today’s clients want to know what makes your firm tick: what you value and what gets your people excited to come to work each day.  A strong professional services brand is grounded in what makes you, you—the people, understanding of client priorities and purpose behind every engagement. This will drive an approach that speaks to your market in an authentic and tangible way.

People

Your brand lives and breathes through your people, leadership, as well as employees. Without genuine and enduring buy-in at every level from the corner office on down, even the most vigorous branding effort can fade into little more than a short-lived marketing exercise. Senior leaders need to do more than simply approve: they must set the tone by actively championing the brand development process and weaving it into their strategic thinking and internal messaging. Knowing that leaders are personally invested in the brand inspires and motivates those on the front line every day, selling and delivering work. It’s also a two-way street—when you tap into and value your team’s insights, experiences, and contributions, you get better solutions while also naturally creating champions who will deliver on your brand promise for years to come.

Understanding

How well do you really know your prospective clients? A key challenge many firms face is the lack of comprehensive market data. Unlike consumer brands, professional services don’t have extensive syndicated research to rely upon. Each firm must build its own fact base, but the effort and investment can be well worth it. While qualitative insights help identify issues, quantitative research becomes critical to truly understand what drives client decisions. Demonstrating an in-depth understanding can be the crucial point of differentiation that wins a contract.

Purpose

Clients today look for firms whose values and approach align with their own. They’re looking to hire a team of experts they can trust and work with. This is why strong professional services brands aren’t built through marketing campaigns—they’re built through countless small interactions between your people and your clients. When you align these moments with a clear sense of purpose and strong leadership support, your brand becomes more than a logo: it becomes a true competitive advantage that drives growth and attracts both talent and clients. This means moving beyond capability statements and credentials presentations to reveal what truly sets your firm apart. When you can articulate not just what you do, but why you do it, you create deeper connections that lead to lasting relationships.

The path to a stronger brand starts with honest conversations—with your leaders, your people, and your market. It demands recognition that your brand isn’t something you create once and finish. It’s something you nurture and strengthen constantly, through every aspect of your firm’s operations.

Your brand. My reputation.
My reputation. Your brand.

In late October, David and I got to talking. Despite one of us living in a Blue state and the other living in a Purple state (with not near enough electoral votes to be a swing state), we were seeing similar things.

It was the time of year when an abundance of signs began appearing on neighborhood lawns, street corners, down highways and even near government buildings. There were also spooky pumpkins, skeletons and purple and orange-colored Halloween strand lights (who ever thought those would become a thing?) As scary as those were, we’re referring to something more frightening: the political signs.

It wasn’t about politics. It was about brands. And it made us think. The brands you choose tell others about you … whether or not that’s your intention. It’s called the self-expressive benefits of a brand—how your choice to use or associate with a brand reflects your larger personality or preferences. Or in other words, what your association with a particular brand says to others about you.

Aligning brands with values

But it’s not only about what people think about you. It’s about what’s important to you. The brands we associate with reflect our values and beliefs. In fact, a statistic from the IPSOS Global Trends Report confirms customers want to do business with companies who have purpose. Further, more than two-thirds want to purchase from companies who align with their values.

We with our wallets (and our yard signs), tend to select brands who align with our values. Whether Hobby Lobby, Target, Bud Light or Chick-fil-A —we often choose to do business with companies who we believe, think and act like we do. And that says something to others as well.

Just a few weeks ago, in fact, I overheard two men pleased when the supermarket shelves were full of Bud Light but empty of other beers. It took me a minute, but I finally caught on. Or I think I did. In their minds, people were disagreeing with Bud Light’s decision to feature a transwoman in an advertisement. Wherever you stand on the issue, your perception of these men is likely informed by their reaction. 

A virtuous circle

Let’s take it one step further. It’s not only about consumers and users wanting to purchase from brands who align with their values, but also about brands self-selecting customers who align with theirs. It’s a virtuous circle. And it seems to say as much about us as individuals as it does about those companies that sell to us. 

Take for example, Patagonia. The company’s vision is to “save our home planet.” It is known for its passion and action for environmental causes, including its One-Percent For the Planet initiative. Several years ago, Patagonia decided it would no longer allow co-branded embroidery on its apparel. The reason cited was that the co-brands shorten the lifespan of the garment and limit its re-use. The more subtle message was the Patagonia wanted to disentangle itself from the finance and tech companies whose employees are renowned for their Patagonia branded vest “uniforms.” The decision both promoted the company’s values and distanced itself from customers who did not share those values.

Lululemon is yet another example. Over the years, the company  has made decisions regarding sizing inclusivity and the models it has selected for its promotion and advertising that have made it clear, Lululemon prefers a specific (thin) woman to be wearing its clothes. While the most vocal representation of these decisions has been from Chip Wilson, the former CEO, the brand remains associated with the beliefs (despite admitted changes in action). And the former CEO does not deny his intention; he has instead stated “And I think the definition of a brand is that you’re not everything to everybody … You’ve got to be clear that you don’t want certain customers coming in.”

Agree or not, Wilson is correct. We choose brands. And, they choose us. So, next time you make a brand selection, you may think about what it says to others. Or it may be more important to you to understand whether their values align with yours.

Credit unions—by definition member-owned, not-for-profit organizations—are charter-bound to put the interests of customers and communities first. That’s an extraordinarily powerful promise that goes far beyond mere marketing.

For customers, knowing that a financial institution is truly on your side and looking out for you is a compelling value proposition that, arguably, should be a cornerstone of a credit union’s brand. However, in today’s fast-evolving financial services landscape, that may no longer be enough for a credit union to capture and retain market share. As mainstream banks and agile, non-traditional financial technology companies (fintechs) continue to reshape the industry, credit unions must adapt to remain competitive and grow.

In our ongoing work with credit unions as well as traditional banks, Tenet Partners has identified four critical areas where credit unions can focus their efforts to scale successfully. If you’re part of the team charged with making your credit union grow, making the most of these opportunities opens the door to a new brand narrative that combines traditional credit union strengths with a bold, forward-looking point of view that can secure your place in the future of finance.

1. Lay the groundwork for scaling your credit union—and your brand

Credit unions, especially smaller ones, often struggle to match the resources of larger financial institutions when it comes to technology, marketing and product development. However, this doesn’t mean they can’t compete effectively.

To grow efficiently, make the most of what’s available to you:

• Instead of going head-to-head, focus growth initiatives on niche markets or specialized services where you can differentiate, and make that part of your brand story

• Forge strategic partnerships with fintechs to gain access to leading technology without massive capital investment; this can help position your brand as a leader

• Consider mergers or collaborations with other credit unions to pool resources; a merger is a great opportunity to rebrand and raise awareness

• Invest in solutions that can scale efficiently as you grow, such as cloud-based offerings

By finding ways to do an end run around scalability challenges—and more importantly, make them part of the conversation—you can punch above your weight class and compete with larger institutions.

2. Embrace personalization to differentiate your brand

Today’s consumers expect service providers to provide an experience that aligns with their needs and expectations: a trend set by tech-driven enterprises and embraced by fintechs, and one that’s raising the bar. For credit unions, personalization is not just a feature—it’s a necessity for attracting and retaining members, especially younger, digital-native customers who may never set foot in a branch at all. A focus on meeting members where they are can also be a powerful part of your brand story.

To build strong relationships, make personalization a central part of your brand offering:

• Leverage AI and machine learning to analyze member data and offer tailored product recommendations

• Implement predictive models to anticipate member needs and offer proactive solutions

• Create personalized financial wellness programs based on individual member goals and behaviors

• Use data analytics to customize brand communication and marketing efforts for different member segments

By offering more personalized experiences and leaning into them as part of your brand, you can deepen relationships with existing members and appeal to new ones who value individualized attention.

3. Boost member engagement to build your brand

Engagement is crucial, particularly as younger consumers—whose relationship with a credit union may exist entirely online—show a willingness to switch financial institutions. To stay at top of mind, credit unions must strengthen their brands. That means finding effective ways to build loyalty, increase product adoption, and turn members into advocates.

To show that you’re an invested, caring financial partner, stay close to your members:

• Look beyond the technology table stakes of “me too” mobile and online banking experiences by branding around financial insights, education and interactive planning tools that help members visualize and achieve their goals

• Use gamification elements such as dashboards and progress trackers to make financial management more engaging, especially for younger members

• Improve the online banking experience with responsive, effective AI-driven chatbots and efficient, easy-to-use self-service account management tools

• Strengthen the human side of your brand by fostering a culture of service, collaboration and personal relationships

• Be present in local communities by creating programs that align with your members’ values and interests, to raise local awareness of your brand

By focusing on engagement as a key brand differentiator, you can get closer to your members and become an integral part of their financial lives.

4. Take inspiration from fintech brands

Fintechs have set new user experience standards in financial services, emphasizing simplicity, speed, and innovation. In a very real sense, they’re changing the way people think about working with money. To scale successfully, credit unions should consider adopting a similar mindset while leveraging their unique strengths to tell a brand story that stands apart.

To compete in a fast-changing landscape, create a streamlined experience:

• Foster a culture of customer-focused innovation within your organization to continually improve and adapt, while remaining focused on member needs

• Streamline processes to offer quick loan approvals and account openings, and use those advantages in brand communications

• Develop intuitive, user-friendly branded digital interfaces for all your services

• Implement features such as peer-to-peer payments, budgeting tools, and automated savings programs, and associate them with your brand

• Explore emerging technologies such as blockchain for more efficient operations

By aligning fintech-style experiences with traditional values, you can offer the best of both worlds to your members—a unique brand value proposition that can set you apart.

The bottom line: Stay grounded as you grow

Scaling to succeed is not just about getting bigger—it’s about becoming better at serving your members and community. With the right strategies and a commitment to your brand’s core values, you can turn the challenge of scaling your credit union into an opportunity for growth, impact, and most importantly, differentiation.

The future belongs to financial institution brands that can offer the efficiency and innovation of a fintech with the trust and community focus advantages of a credit union—and tell a compelling story about why that matters for customers. By striking the right balance you can stand apart, attract new generations of members, and continue to fulfill your vital role in the financial ecosystem—and not just survive, but thrive.