The reality of addressing all of the moving parts needed to effectively communicate a pending bank merger can be daunting. The fact is that most banks don’t have the resources to dedicate to this “one-time project.”
BKM Marketing's Bank Merger Communications - Excelling Through Change is more than a how-to guide for navigating checklists of do’s and don’ts for merger communication.
This ebook is intended as a resource for bank executives to think strategically about how to effectively plan and execute high impact communications to an array of audiences using all of the key elements of the two bank brands – acquirer and acquired – and build a solid foundation for post-conversion alignment focusing around our Key Takeaways:
1. Focus on Employees
2. Build an Iterative Communication Plan and Manage to it
3. Understand Your Audiences and Focus on What They Need to Know
4. Think Beyond the Merger
5. Conduct a Formal Post Mortem
Communication and transition activities just get added to daily activities of existing marketing, business-line, and operational staff. Add to this that each merger contains different success factors and it is no wonder the change presented by mergers requires overcoming real challenges.
Learn the steps of effective merger communications from Employees and Account Holders to the Community, Prospects and Marketplace at large - evolve from surviving the merger to leveraging it as a launching pad for all of the new customers you will now be able to build banking relationships with over time.
While learnings from past mergers are certainly helpful and there are many aspects that can be standardized to become more efficient over time, the fact remains that mergers are often more about the bank being acquired than the bank doing the acquiring. There are a number of reasons behind this statement – ownership structure, organizational culture, employee base, customer base and market presence among them.
If mergers were just a formal box-checking exercise, they may be more prevalent. Banks need to move beyond financial metrics to define success for each merger. The financials are critical, but the financials can’t be met without due consideration of at least three other aspects as well:
1. Conveying Your Brand and Your Values
2. Going Beyond Data and Managing the Customer Experience
3. Focus on Post-Merger Communications before the Conversion
Learn how to make your next merger a success HERE