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.