Opportunity Alert: Transparency Drives Conversions and Merger Success

When a financial institution announces a product conversion (or change) or a merger with another company, customers can often experience confusion, anxiety, stress, and even anger.

In these situations, the key to success is transparency, timely communication, and providing clear and understandable information about the change that is taking place and how it might impact them.

Usually, a product conversion or merger is driven by a financial institution’s effort to better serve customers and their needs. While change is not easy for many people, we can help customers see the benefit of these changes by explaining their purpose and value through clear communications. This is also an opportunity to build credibility and trust with customers.

So, what do product conversion or merger communications look like?

These communications can include informing customers of changes early on through multiple channels (social media, email, website, etc.), assisting them through the transition (ex. providing product conversion guides, creating FAQ pages on your website), and making yourself available to answer questions.

Communicating about product conversions, mergers, and other changes are a tremendous opportunity to demonstrate an institution’s ongoing effort to better serve customer’s changing financial needs. Timely and effective communication is key to successfully retaining happy customers.

In fact, successful transitions can actually makes your customers more loyal and aligned with your products and brand. In the end, all this outreach is designed to retain customers and help them strengthen their relationships with you.

Interested in learning more about how your company can drive success amidst change? Contact us here today.