Branding differentiation is no longer a choice in this competitive world, but a necessity. Companies need to ensure their brand is distinct by being innovative in their branding strategy in order to survive in the market. The question is how to stand out in the crowd with the same services and business ideas? To begin, get creative with your branding for financial services.
How? Through branding differentiation. However, it particularly gets difficult for asset management companies to differentiate their brands from other service providers since they have homogenous products. The entire weight of your branding then lies on differentiation.
I understand that innovation is risky and it is hard to keep up with the market competition. However, companies need to step up and be distinct in every way possible to ensure growth.
The financial services sector in the US is making a huge differentiation through brand identification. It is not surprising that brand identity defines the brand’s personality. Hence, it is important for asset management companies to be particular about their brand identity design right from the start of the process. The competition may be tough, but by being a little creative, you can make a huge difference.
Brand Identity Design
Understand that corporate logos communicate your company’s values, organizational behavior, and brand culture. It is the first impression that you lay on your audience, one which identifies you for them. Therefore, your logo design should help your customers develop trust in your company.
Corporate identity is created with a careful consideration of type style, brand tagline, appropriate colors, and brand icons. This communicates to your audience what you do, and how you do it. So make sure yours does the same.
How to Create Brand Design
Start with a close study of the current logo design trends. Over the years, logo design has brilliantly transformed from hand lettering to digital technology. Logo design trends keeps on evolving and that is where you need to keep an eye. For instance, financial companies differentiate their brand by being distinct in their brand identity design. You would notice that the logo designs of the top asset management companies:
- Use Distinct and Sharp Fonts
- Focus on Wordmarks
- Follow the Minimalism Trend
- Opt for Flat Logo Design
- Use Lower Case
- Create Distinct Icons
According to the list published by Barrons, here are the top 20 listed Asset Management Companies in the U.S. Look at how these firms are utilizing brand differentiation through their identities:
1. Bank of America Global Wealth & Investment Management (Merrill Lynch Global WM & U.S. Trust)
2. Morgan Stanley Wealth Management
3. JP Morgan
4. Wells Fargov
5. UBS Wealth Management
6. Goldman Sachs
7. BNY Mellon Wealth Management
9. Northern Trust
10. Charles Schwab
11. Raymond James Financial
12. Credit Suisse
13. CITI Group
14. Deutsche Bank Private Wealth Management
15. RBC Wealth Management
16. Bessemer Trust