Let’s face it, the mortgage and lending industry is changing. So, everyone in the industry that wants to be successful has to change, as well. It just has to happen. So, where does that change start? Several vendors are changing their brand identity to reflect the evolving nature of our industry.
For example, one month after being recognized as one of the fastest-growing private companies in the country, Land Gorilla has launched a new brand identity designed to carry its mission of making construction lending safe for all stakeholders far into the future.
The new brand was unveiled Sept. 26, 2016, linking the idea of a gorilla’s natural strength and solidity to the business that has quickly made a name for itself as a foundation for successful construction projects through safe, reliable lending practices.
While gorillas are often portrayed as majestic and solitary creatures, their rugged endurance is only possible due to their membership in a tight-knit group known as a troop or a band. Similarly, Land Gorilla knows that while a construction project may seem to stand alone, its transition from idea to plan to physical creation can only happen if a team of people work together in confidence and trust.
“We wanted a brand that is iconic, memorable, trustworthy, and timeless,” said Sean Faries, CEO of Land Gorilla. “If you encounter a gorilla, you know what you’re going to get: dignity, strength, a depth of intelligence, and a fierce devotion to anyone in its circle. Since we already operate on those same principles and with those same characteristics, it’s time that we acknowledged them in our brand identity.”
The re-branding also plays off of the concept that a gorilla is “built to protect,” using its physical, mental, and social resources to safeguard its territory and those who call that area home. From the Land Gorilla angle, the company is built to help protect anyone involved in the construction process by making lending a secure and efficient endeavor. Stakeholders will also have confidence that properly financed projects, once completed, have been built to physically protect the people who will be using them and interacting with them every day.
Land Gorilla’s troop is made up of members who can collectively claim more than 90 years in the business of construction risk management. Not content to use standard practices for projects being built with ever-improving technologies and new business models, the company has pioneered an advanced cloud-based loan management system. The system is well built, uncomplicated, and powerful, just like the king of the jungle.
Available construction-lending software and services include appraisal management, progress inspection, project and builder acceptance reviews, construction underwriting, post-closing administration, and program development.
Land Gorilla ranked 230 out of the United States’ top 500 fastest-growing businesses as reported in August 2016 by Inc. Magazine, posting 1,726-percent growth. The company is headquartered in San Luis Obispo on California’s beautiful Central Coast. For more information, call Land Gorilla at 1-855-887-3800 or visit landgorilla.com.
Similarly, LoanScorecard, a provider of automated underwriting, compliance and distribution solutions, unveiled its new brand identity and corporate website.
The new brand identity centers on the theme of “Solutions for Intelligent Lending,” the company’s new tagline, and better conveys the evolution and expansion of LoanScorecard’s solution-focused technologies. The new imagery and redesigned website suggest how the company helps its clients grow and features a more intuitive, engaging format that allows lenders and investors to shop for solutions based on their needs.
“Our company and our broad set of product offerings have significantly evolved over the past few years in order to meet the changing needs of our clients,” said Ben Wu, executive director at LoanScorecard. “Today, we offer banks, credit unions, TPOs, wholesalers and investors the solutions they need to not only meet today’s regulatory challenges, but also expand their businesses. We’re excited to have a brand that reflects how our intelligent solutions can help them grow.”
Branding is very important. According to marketing company Deluxe Corp., your brand impacts your business in these key ways:
Branding Improves Recognition
One of major components of your brand is your logo. Think of how we instantly recognize the golden arches of McDonalds or the simple, but powerful eagle of the USPS. As the “face” of a company, logo design is critical because that simple graphic will be on every piece of correspondence and advertising. A professional logo design is simple enough to be memorable, but powerful enough to give the desired impression of your company.
Branding Creates Trust
A professional appearance builds credibility and trust. People are more likely to purchase from a business that appears polished and legitimate. Emotional reactions are hardwired into our brains, and those reactions are very real influencers.
Branding Supports Advertising
Advertising is another component of your brand. Both the medium chosen and demographic targeted for advertisements builds a brand. Too narrow an advertising focus, and a company risks being “pigeon holed” and losing their ability to expand into new markets. Too broad a focus, and the company fails to create a definable impression of the company in the minds of would be customers.
Branding Builds Financial Value
Companies who publicly trade on a stock exchange are valued at many times the actual hard assets of the company. Much of this value is due to the branding of the company. A strong brand usually guarantees future business. Whether a company is in the position to borrow funds for expansion or rolling out to an IPO, being perceived as more valuable will make the process advantageous for the owner of the company. The greater a company’s devotion to build its brand value, the better the financial return from its efforts.
Branding Inspires Employees
Many employees need more than just work— they need something to work toward. When employees understand your mission and reason for being, they are more likely to feel that same pride and work in the same direction to achieve the goals you have set. Having a strong brand is like turning the company logo into a flag the rest of the company can rally around.
Branding Generates New Customers
Branding enables your company to get referral business. Would it be possible for you to tell a friend about the new shoes you love if you couldn’t remember the brand? A large reason ‘brand’ is the word used for this concept is that the goal is an indelible impression. As the most profitable advertising source, word of mouth referrals are only possible in a situation where your company has delivered a memorable experience with your customer.
The most profitable companies, small and large, have a single thing in common. They have established themselves as a leader in their particular industry by building a strong brand.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.