BANK AND FINANCIAL SERVICES SOLUTIONS

Perspectives: Marketing Insights You Can Use Right Now

Bank mergers: Key activities to make the deal successful.

Posted by Rick Hall on Jul 27, 2016

One of the areas that we noted in our annual outlook in January was the fact that all signs were pointing to an anticipated increase in the number of bank mergers in 2016. While most of the deals announced to date have been relatively small due to increased regulatory scrutiny on readiness in larger institutions, there does seem to be a growing undercurrent of activity. This arguably is driven more on seller motivation than buyer strategy. Regardless of the drivers, it appears to be a good opportunity for smaller buyers to make hay while their much larger competitors deal with meeting the demands of regulators in preparation for their next move.

So the mixed environment (which seems to have a few years of runway left) creates the need for those who are in the position to buy to take stock of some internal factors prior to jumping on the merger bandwagon. Here are a few thoughts to consider going forward.

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Topics: Bank Marketing, Banks, Banking and Financial Services, Bank Merger Communications

Bank Merger Marketing: Why aren’t acquired customers always considered NEW customers?

Posted by Bruce McMeekin on Jun 08, 2015

Directing a bank merger is a tremendous undertaking. Between consolidating systems, reviewing brand implications, evaluating locations, assessing operational impact and reassuring employees, there are countless decisions to make every day. 

With executives focusing so much energy on operational details, existing customers are often overlooked. The mom, dad, business owner, student, not for profit group...all are people who chose to bank with a specific institution for very real and personal reasons. Was it the ease of the location or the branch manager or teller? Was it the interest rate or products and services being offered? Does it really matter?

The answer is YES, and understanding what motivates these new customers is critical in keeping them as customers for years to come.

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Topics: Bank Marketing, Bank Merger Communications

How can you reduce customer attrition in your upcoming bank merger?

Posted by Bruce McMeekin on May 20, 2015

The most critical factor and thus the most important part of a bank merger is making sure the value of the merger doesn’t walk out the door. Literally, preventing customers from leaving the bank you just acquired is by far the most important thought on everyone’s mind involved in leading a bank merger. Customers will react in funny ways after a bank merger announcement  - including wandering across the street to the competition for the most basic of offers and for promises that are short-lived.

So why do 17% of customers leave or ‘attrite’ during and after a merger anyway?

According to Deloitte Center for Banking, there are two top reasons why customers switch banks after a merger: purely emotional reasons and a competitor’s offer.

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Topics: Bank Marketing, Bank Merger Communications

What are the critical steps to leading a successful bank merger?

Posted by Laura Costello on May 11, 2015

Few business challenges require more forethought than merging two financial institutions. Between consolidating systems, reviewing brand implications, evaluating locations, assessing operational impact, reassuring employees and the hundreds of other details that can arise, it's no wonder that research reveals 11% of customers attrite in the first month following a merger. 

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Topics: Bank Marketing, Bank Merger Communications

Bank Merger Communications: Printing and Mailing

Posted by Sam Ricco on Nov 05, 2013

As with any bank merger communication plan, hard copy printed and mailed communications are critical elements to the overall campaign. Not only are hard copy communications necessary for legal reasons, but they are also a great opportunity to develop a relationship and paint a positive image of your institution for your new customers. 

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Topics: direct mail, Bank Marketing, Financial Marketing, Banks, printing, print, Bank Merger Communications, Printing and Mailing

Bank Merger Communications: Creative Development

Posted by Laura Costello on Oct 25, 2013

Creative development is a part of any major communications process. Image, text, and video elements can all play a role in marketing programs, but in bank merger communications it's especially important to keep your goals and purpose in sight at all times.

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Topics: Bank Marketing, Financial Marketing, creative, design, Bank Merger Communications, strategy, Creative Development

Bank Merger Communications: Strategy and Process Design

Posted by Laura Costello on Oct 22, 2013

Mergers can be complex, but the best bank merger communications are simple and transparent. It's essential to understand when to communicate, what to communicate, and to whom you should communicate.

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Topics: Bank Marketing, Financial Marketing, Banks, Bank Merger Communications, strategy