Independent Banker - March 2023 - 57
" It's really critical that
what [employees] see
from the very beginning
is that your brand stands
for something and has a
clear belief system. "
-Tim Pannell, FMS Consulting
prepare Glasford Bank customers for the changes
coming and to help their employees
feel comfortable with the changes and also
excited about the new products and services
being offered, " says Elizabeth Allen, marketing
director at $500 million-asset Better Banks.
Marketing focused on making customers aware
of things such as the additional branch and ATM
locations, as well as keeping employees of both
banks up to date with the progress of the merger.
" We focused on the benefits and made it clear
that they would be working with the same
people and would get the same level of service, "
Allen says.
She says the key marketing theme was " Same
People. Same Service. More Products. More
Technology. " Marketing efforts started
with a letter from the
president of Glasford
Bank announcing the
merger, followed by
a letter from the president
of Better Banks welcoming
Glasford customers to the
family. Additionally, a press
release was distributed to all
local media. Emails and
social posts were also
included throughout the
merger process, and
a welcome book
was created and
mailed to all
of Glasford
Bank's
customers with details about
the merger and what they
could expect.
Another cornerstone to a good
communications strategy is having a very
definitive and clear communication timeline.
Pannell advises developing a communications
flow chart to organize communications and
marketing. The starting point may begin with a
welcome letter to customers on " legal day one "
of a merger or acquisition and end months
later when the conversion is fully executed.
" You're putting these pieces together in your
flow chart and then you're building some of
your other communication around that 'anchor
communication,' which is communication
required by compliance, " he says.
Employees also need to be trained on
questions from customers, such as what
changes will occur immediately. Will my
debit card work? Will my account numbers
change? Will there be ATM fees? In
addition, it's important to share external
communications and marketing pieces with
employees before they're sent to customers,
such as a press release on the merger or a new
customer brochure.
It's important to have a strategy and a
checklist, but one of the most important
aspects is to listen to customers and to
employees. As Maher says, " What works in one
environment with one group of employees and
customers may not work in another. "
Beth Mattson-Teig is a writer in Minnesota.
independentbanker.org // 57
http://www.independentbanker.org
Independent Banker - March 2023
Table of Contents for the Digital Edition of Independent Banker - March 2023
Table of Contents
Independent Banker - March 2023 - Intro
Independent Banker - March 2023 - Cover1
Independent Banker - March 2023 - Cover2
Independent Banker - March 2023 - Table of Contents
Independent Banker - March 2023 - 2
Independent Banker - March 2023 - 3
Independent Banker - March 2023 - 4
Independent Banker - March 2023 - 5
Independent Banker - March 2023 - 6
Independent Banker - March 2023 - 7
Independent Banker - March 2023 - 8
Independent Banker - March 2023 - 9
Independent Banker - March 2023 - 10
Independent Banker - March 2023 - 11
Independent Banker - March 2023 - 12
Independent Banker - March 2023 - 13
Independent Banker - March 2023 - 14
Independent Banker - March 2023 - 15
Independent Banker - March 2023 - 16
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Independent Banker - March 2023 - 18
Independent Banker - March 2023 - 19
Independent Banker - March 2023 - 20
Independent Banker - March 2023 - 21
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Independent Banker - March 2023 - 23
Independent Banker - March 2023 - 24
Independent Banker - March 2023 - 25
Independent Banker - March 2023 - 26
Independent Banker - March 2023 - 27
Independent Banker - March 2023 - 28
Independent Banker - March 2023 - 29
Independent Banker - March 2023 - 30
Independent Banker - March 2023 - 31
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Independent Banker - March 2023 - 33
Independent Banker - March 2023 - 34
Independent Banker - March 2023 - 35
Independent Banker - March 2023 - 36
Independent Banker - March 2023 - 37
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Independent Banker - March 2023 - 42
Independent Banker - March 2023 - 43
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Independent Banker - March 2023 - 45
Independent Banker - March 2023 - 46
Independent Banker - March 2023 - 47
Independent Banker - March 2023 - 48
Independent Banker - March 2023 - 49
Independent Banker - March 2023 - 50
Independent Banker - March 2023 - 51
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Independent Banker - March 2023 - 53
Independent Banker - March 2023 - 54
Independent Banker - March 2023 - 55
Independent Banker - March 2023 - 56
Independent Banker - March 2023 - 57
Independent Banker - March 2023 - 58
Independent Banker - March 2023 - 59
Independent Banker - March 2023 - 60
Independent Banker - March 2023 - 61
Independent Banker - March 2023 - 62
Independent Banker - March 2023 - 63
Independent Banker - March 2023 - 64
Independent Banker - March 2023 - 65
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Independent Banker - March 2023 - 67
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Independent Banker - March 2023 - 79
Independent Banker - March 2023 - 80
Independent Banker - March 2023 - Cover3
Independent Banker - March 2023 - Cover4
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