Mergers, Acquisitions and Conversions
While most bank marketers are challenged each day to determine the right frequency and level of communication to their customers, this is never truer than when faced with a disruptive event like a merger or system conversion. Success lies not only with seamless transition in order to limit negative impact to customers - but also in what they know and when they know it. This is the responsibility of the bank marketer.
While recent years have yielded moderate merger activity and lower valuations among banks following peak activity in 2007, industry followers have noted signs that activity is poised to pick up fairly significantly in 2016 and beyond. Among the drivers for bank merger activity, issues like regulatory changes, potential rising interest rates and technology and data have joined the traditional drivers of deposit growth and geographic expansion for banks.
In addition, the call for updating legacy technology and migrating customers to new platforms has not ceased and is not likely to do so for the foreseeable future, regardless of the logic behind it. However, with the increase in technology spend, challenged only by investments in risk and compliance, effective communications strategies are critical for any migration of customers from one system to another.
Developing a proactive set of communication strategies is critical in order to successfully meet the inevitably short timeframes that come with the process. As a result, BKM Marketing has developed a turnkey model to help your bank address these critical events.
We understand the challenges that exist to develop and execute a successful merger and conversion communications program and have many clients that have discovered the true value of a marketing partner that has delivered successful programs over many years. Click on the links above to learn more or contact us directly to learn more about how we can help you with your merger and conversion communications program.