Well-established relationships between business owners and their lenders are part of what makes a bank so attractive to an acquirer. When the lending relationship changes, the acquiring bank needs to reassure legacy clients that they value their partnership through merger communications.
With very few exceptions, businesses require different messaging than retail customers. And organizations that use treasury management services need more hand-holding than less sophisticated relationships.
Bank Merger Marketing’s leadership team started their careers as commercial bankers. This first-hand experience provides the perspective needed to empathize with the uncertainty a merger creates for acquired bankers and their clients.
DEVELOP A BUSINESS-SPECIFIC MERGER COMMUNICATIONS STRATEGY
1. Assume that some acquired business clients made a choice NOT to bank with the acquiring institution.
2. Communicate with acquired relationship officers frequently so they can set appropriate expectations for their clients.
3. Examine acquired client relationships with exception pricing, covenants, funds availability, grandfathered products, or other situations requiring special attention.
4. Prioritizecustomermapping overproductmapping. It’s often a mistake to assume that your acquired customer currently use the right products for their needs. Examine average balances and transaction volume and use that information to map customers to new products.
Bank Merger Marketingby BKM Marketingis best known for its deep expertise in banking and financial services marketing. However, our broader BKM team also helps leading firms in other industries build their brands and revenues through action-driven communications. VisitBKMMarketing.comto learn more.
