Challenge:
South Shore Bank (SSB) announced intent to merge with Braintree Cooperative Bank (BCB) in 2017. With BCB clients being extremely loyal to the Bank and to the Bank’s employees, communicating the merger in an honest and positive way - ensuring their concerns were addressed clearly and directly - was critical to retain clients post-conversion.
Solution:
BKM worked with SSB and BCB employees as part of a Core Communications team, determining key concerns to address for both employees and customers . BKM created a full communications plan around these key messages, providing multiple channels for employees, clients, and the general market to gain access to information about the merger.
Program Elements:
At the center of the conversion communications was an Online Hub, togetherasonebank.com, designed to provide customers and employees of BCB with the most up to date information about the merger. The Online Hub also included a video from the Presidents at SBS and BCB reinforcing their commitment to customers, employees, and the community. Communications driving to the Online Hub included:
- Direct mail to BCB customers
- Digital ad campaign
- Social Media outreach
- In-branch posters and ATM signage
- Out of Home advertising within local malls and shopping centers
- Print advertising in local newspapers
Results:
As of March 19, 2018, South Shore Bank had retained 99% of Braintree Cooperative Bank customers. In addition, the Bank received positive feedback from both customers and employees.
