It can be difficult for financial institutions to decide when it’s the right time to refresh their branch designs. We get it—it’s a big, juicy, meaningful decision. Finding the right answer for your organization begins with assessment and understanding.

With the rapid advancement of technology and changing consumer preferences, it’s important to keep up with the times and provide an up-to-date and engaging customer experience. What are the signs it’s time to update your branch design? And what are the advantages of doing so?

We’ll also take a look at the NewGround approach to branch design and highlight some successful branch design refreshes.

Signs it’s Time to Refresh Your Branch Design

Outdated Technology: If your branch’s technology is lagging behind, it can lead to a frustrating customer or member experience. Consumers expect modern conveniences and services that take advantage of the latest innovations in banking technology and their mobile devices.

Inefficient Use of Space: It’s no secret that we’ve seen more branch closures than openings over the past several years. These changes and evolving consumer trends may mean your layout isn’t right for your current amount of foot traffic. A well-designed branch should have a clear flow and make efficient use of space. If your current layout doesn’t achieve this, it’s time to make a change.

Consumer Experience is Lacking: When your branch doesn’t offer a welcoming or engaging consumer experience, it’s time to refresh your design. This is especially true if your design doesn’t reflect your current brand. A well-designed branch should be inviting and create a positive customer first impression.

Competition Has Updated Their Branches: If your competition has recently updated their branches, it’s important to keep up. An outdated branch can make your institution appear less modern and less appealing to potential customers. Consumers are going to compare their options anyway, so you might as well come out on top!

Need for Rebranding: If your institution has undergone a rebranding or shift in focus, your branch design should reflect your current brand. Beyond design, consider how your brand values are represented in your physical spaces.

Advantages of Refreshing Your Branch Design

Increased Foot Traffic: A well-designed branch can attract more foot traffic and create a positive first impression for potential customers.

Enhanced Consumer Experience: A refreshed branch design can provide a more engaging and welcoming customer or member experience, leading to increased consumer loyalty and satisfaction.

Increased Sales: The right design and layout can lead to increased sales and revenue for your institution.

More Efficient Use of Space: A space that is laid out well will help you make more efficient use of space, leading to cost savings and flexibility for your institution.

More Cohesive Brand Image: A refreshed branch design can create a more cohesive and unified brand image across all touchpoints.

Factors to Consider When Updating Your Branch Design

Budget: It’s important to consider your budget when updating your branch design. A refresh or redesign doesn’t have to break the bank, but it’s important to have a realistic understanding of what you can afford and how best to spend your money.

Timeframe: Time is of the essence for any branch updates you engage in. A well-planned and well-executed project can help ensure your refresh is completed on time and on budget.

Target Audience: Who is your consumer and what do they care about? Your branch should appeal to your target audience, create a positive first impression, and drive them to make repeat visits.

Brand Image: A refresh or redesign is an amazing opportunity to strengthen your brand image. A well-designed branch offers a branded space that reflects and reinforces your brand values.

Location: Of course, your branch’s location is a key factor. A well-designed branch should fit in with the surrounding area and create a positive first impression for potential customers.

The NewGround Approach to Branch Design

At NewGround, we approach each branch design project as a collaboration with our clients. Our team of experts works with each institution to create customized design solutions that meet their unique needs and goals. We use cutting-edge technology and project management expertise to ensure that each project is completed on time and on budget.

Examples of Successful Branch Design Refreshes by NewGround

For direct examples of the branch design refreshes NewGround has done, take a look at ABCU Credit Union or Neighborhood Credit Union, each branch designs that highlighted the brand’s commitment to their members and the effect the branch can have on overall financial institution performance. Each of these branches highlights NewGround’s ability to customize our approach depending on our client’s needs.

Partner with NewGround to Refresh Your Perspective and Your Physical Space

If you’re considering refreshing your branch design, you have to consider your budget, desired timeframe, target audience, brand image, and location. Working with an experienced strategic design partner like NewGround can help you achieve your goals and ensure your project is completed on time, on budget, and according to your organizational goals.

At NewGround, we approach each branch design project as a collaboration with our clients. Our customized design solutions, cutting-edge technology, and project management expertise can help you achieve your goals and stand out in a crowded marketplace.

So, is it time to refresh your branch design? If you’re seeing any of the signs we’ve discussed, it may be time to make a change. Don’t hesitate to reach out to NewGround to learn more about how we can help you achieve your goals and refresh your branch design.

Connect with us to learn more!