It’s an interesting time to be in retail financial services. Those of you in the US (which I know is most of you) will be aware of the recent big-name casualties, but in the UK we have a mini-version of a banking collapse.

To recap, Lloyds TSB and HBOS, the fourth and second largest mortgage lender respectively, entered into what felt like a shotgun marriage last week. Earlier in the year, Northern Rock went bust and was bailed out by the government. And this weekend, Bradford and Bingley, the eighth largest mortgage lender, is also rumoured to be lined up for part-nationalisation.

What does all this mean for us as brands observers? On the one level, it threatens to introduce an alarming level of commoditization of brands. Bradford and Bingley savings customers, allegedly, are going to be ‘transferred’ to an as-yet-undetermined other.

Will customers protest and leave? Probably not, because the perceived differences between banks and building societies is, sadly, minimal. But banks are complacent at their peril. Our experience of big brand change, whether this is a merger, a re-brand or a takeover, suggests that customers in traditionally low-interest categories, take the moment of change as an opportunity to reassess their provider. And this is probably the greatest ‘moment of change’ for retail financial services in living memory.

This perceptions shift is not just change driven by everyday commercial factors. The fabric of the system itself is at risk and the customer is scared. After all, it’s not just small institutions getting in trouble here. And as politicians around the world know only too well, fear is a potent driver of preference. The brands that can be seen to be tackling this fear head-on will be the winners.

So, with the retail customer is uniquely sensitized and likely to be more open to switching than at any time, what can brands do to capitalize on this?

Smaller bank brands have to reassess their positioning when a customer has had his or her confidence fundamentally undermined. Why should I stick with a small bank when it could be at higher risk of collapse than a bigger, safer bank? Localness, customer service, the backing of a bigger institution are all good start points. In essence, they need to find a relevant point of difference that will counter the potential perception that bigger is safer.

Bigger brands need to ‘get boring’ and remind the customer why they are to be trusted. For the moment, trust and reliability are valuable currency.

Of course, whether the lesson throughout this is learned for the long term and we prevent ourselves from over-stretching into unmanageable levels of debt again remains to be seen. But while there is a climate of fear, bank brands have a unique opportunity to grab market share and set themselves up for when the good times roll around again.

Siegel+Gale, one of the world’s premier strategic branding firms, announced today the creation of a new Dynamic Media Practice and the appointment of Thomas Mueller as its Global Director.

“Our new global Dynamic Media Practice will help our clients bring their brands to life across all media touch points, all around the world,” says Alan Siegel, Chairman and CEO of Siegel+Gale. “The media is constantly changing and so will our approach, but this new practice will bring our strength in simplification to information architecture and design across every platform. Thomas Mueller is the perfect person to lead our new effort. His accomplishments in brand experience and design at such leading organizations as Martha Stewart Living Omnimedia, Arnold Worldwide, and Avenue A | Razorfish will take Siegel+Gale, and our clients, from strength to strength.”

In his most recent post at Martha Stewart Living Omnimedia, Mr. Mueller was VP creative director, responsible for the customer experience of Martha Stewart’s Internet initiatives. That included digital product vision and strategy, new product development, personalization tools and social media features, user research and usability, interface design and development, and the development of innovative digital marketing and ad sales products.

“After working for so many years in the pure play interactive field, and also as a long admirer of the smart branding work done by Siegel+Gale, I’m very excited to join the company now and provide a vision for how to apply the ‘Simple is Smart’ ethos that Alan Siegel has championed to all dynamic media,” says Mr. Mueller.

“Successful brands today have to be more than simply a conversation. They have to provide memorable experiences that are useful, and usable, wherever the consumer comes in contact with a brand. Brands that ‘get’ the consumer, their preferences, and behaviors, have a shot at winning,” Mr. Mueller says. “It is my strong belief that simplicity, when applied rigorously across the entire landscape of consumer touch points including emerging ones, will lead to smarter products and services. We will help our clients succeed in transforming their businesses — with measurable results.”

Siegel+Gale is the first strategic branding firm to create a Dynamic Media practice. The customer-centric practice will integrate aspects of research, strategy, simplification, data visualization, experience design, and technology, to ensure brands speak with a clear digital voice in a continually evolving dynamic media landscape. In this way Siegel+Gale clients will be ahead of the curve with their brands, offering smart and simple experiences in any medium.

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NEW YORK, NY—September 9, 2008—Siegel+Gale, one of the world’s premier strategic branding firms, announced today the creation of a new worldwide Higher Education and Nonprofit Practice and the appointment of Peter S. Cohl as its Global Director.

"As funds tighten and global competition increases, higher education and nonprofits are seeking every advantage they can find in order to better reach their audiences. Capturing and conveying the identity, the essence, of an institution has never been more crucial," says Alan Siegel, chairman and CEO of Siegel+Gale. "Although Siegel+Gale has long been active in the sector, this is the perfect time to create a practice devoted to higher education and nonprofit institutions, and Peter Cohl is the perfect person to lead our effort."

Peter S. Cohl has significant experience in higher education, communications, marketing, and the arts – leading engagements with The Johns Hopkins University, College Board, Brown University, and Florida State University, as well as many of the best-known global corporations.

"We recognize that higher education and nonprofit institutions operate differently than the corporate world," says Mr. Cohl. "Budgets are tighter and consensus is critical to success. In creating a practice devoted to higher education and nonprofit institutions, we seek to leverage our vast experience in these environments to help institutions achieve more with less – globally."

Other Siegel+Gale not-for-profit and higher-education clients have included AARP, United States Air Force, the Tony Awards, Breastcancer.org, Phoenix House, Legal Aid Society of New York, Tuck School of Business at Dartmouth, Duke University’s Fuqua School of Business, Berklee College of Music, Cornell University, The New School, and MBA.com.

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