Defining the Levels of Branch Renovations TO TRANSFORMATION FROM REFRESH
Mastering Project Success Series: Part II
In an era dominated by digital transformation and shifting customer expectations, banks and credit unions must evolve and update their branches to remain relevant. Branch renovations can vary widely in complexity, depending on the FI’s goals, budget, and the condition of the existing branch.
The renovation process should be tailored to meet the specific needs of your customers and your financial institution
as a whole. Are you aiming to enhance the customer experience, modernize the branch design, improve the customer journey, or optimize operational efficiency?
Each level of renovation has different objectives, scopes, and impacts on the branch’s experience. Let’s break it down…
Level I: Brand Refresh
A branded makeover is a simple and affordable option – ideal for a single location or multiple locations that need to align with your brand and branch network. Although it’s a subtle update, it is guaranteed to improve the customer experience and connect with your branch visitors. What Changes:
Objective:
Update the look and feel of the branch with minimal disruption
♦ Refreshed marketing
♦ New signage or logo treatments
♦ Community wall murals
♦ Simple updates to surfaces
Level II: Moderate Update
A moderate update is a step up from simple with more than just a fresh coat of paint. This is great for those antiquated branches – allowing you to modernize the branch experience better to meet the ever-evolving needs of your customers.
Objective:
Enhance functionality and customer experience with more significant updates.
What Changes:
Level III: Minor Renovation
A minor renovation greatly modernizes the branch, giving your branch visitors an upgraded experience. This allows you to try renovating a single branch as your prototype and use it as a design and style guide to implement across your branch network.
Objective:
Significantly modernize the branch to align with current banking trends and future needs.
What Changes:
♦ Brand refresh
♦ Renovated space
♦ Architectural enhancements
♦ Upgraded surfaces
♦ Modernized furniture
♦ Signature branded elements
Level IV: Full Transformation
A complete branch transformation will significantly impact an existing location, with a noticeable difference visible to customers. Not all locations will need this level of transformation, but the return on investment is worth considering for your most antiquated branches.
Objective:
Completely redefine the branch’s role, design, and operations to meet future banking needs.
What Changes:
♦ Brand refresh
♦ Newly transformed space
♦ Architectural enhancements
♦ Upgraded surfaces
♦ Modernized furniture
♦ Signature branded elements
♦ Mechanical upgrades
Which level of a branch renovation is right for you?
Choosing the right level of renovation for your bank or credit union branch can be a complex decision, but we’re here to guide you every step of the way. By thoroughly assessing your branch’s unique needs, customer demographics, and longterm goals, we can help you identify which type of renovation will provide the most value. We take the guesswork out of the process, ensuring that your investment leads to enhanced customer experiences, improved efficiency, and a modernized branch that meets today’s banking demands.
Ready to take the next step in transforming your branch? Contact us today and let’s find the perfect renovation solution to meet your goals and elevate your branch experience.