CHALLENGE
Hemispheres Bank, fresh from the acquisition of another banking firms’ assets, sought to re-introduce itself to the marketplace as Republic Federal Bank. The Conroy Martinez Group, experts in banking PR, developed and coordinated the overall rebranding communications strategy and campaign to announce the name change, the new facets of the bank’s operations and reassure existing customers of both previous entities about the positives for their banking needs.
The bank sought to maintain its strong mortgage profile, while steadily building its commercial loan business, with close ties to Latin American businesses expanding into the US market.
The challenge included retaining the customer base during this time of transition, reassuring customers that we are still the same great bank that they do business with day in and day out.
An additional challenge involved announcing new executives in key departments and recommending unique community involvement opportunities for each one of them.
STRATEGY
We planned a series of events at all branches in the state. Tied to these ‘re-opening’ celebrations, we would announce a host of new and important banking services as a result of the new strength of the institution. All of the new customer-focused services were highlighted that could enhance the bank’s market positioning.
The media and community introductions of new executives required more than job announcements to customers and the media. We brought the CEO to the media in deskside chats so they could be interviewed on a host of banking topics. This occurred following carefully crafted media training. We sought to establish meaningful community involvement volunteer opportunities to establish each executive in their respective communities.
In addition to traditional new position announcements, the business events and community volunteer opportunities would provide high-level visibility for each of those executives as well as establishing the bank’s new name as Republic Federal Bank.
The agency met with individual branch managers to seek out story opportunities related to their market areas. We wrote press releases and secured several neighborhood stories on the bank and its people. Additionally, several new convenient services gave the agency additional story opportunities.
RESULTS
More than a dozen stories statewide announced the new name. Additional stories announced renaming of branches in all community newspapers and online. Profiles on the CEO and other key executive established the renewed credibility of the institution under its new name. The Miami Herald and other statewide dailies, The South Florida Business Journal, Miami Today, The Daily Business Review and local regional consumer publications all wrote about and applauded the new entity’s entrance into the marketplace.
And to make certain that all employees, new and old, were kept in the loop of activities, a new employee newsletter was developed and published by the agency.
The high visibility of the volunteer and speaking opportunities we arranged, such as the World City Business Roundtable, Habitat for Humanity participation, along with broader involvement with the greater Miami Chamber of Commerce, put the bank front and center in the media and the business community.
Additionally, we positioned Republic Federal Bank’s CEO as an expert for the media in investing, banking regulation and the South Florida banking industry establishing our CEO as a ready, willing and credible source for finance reporters throughout the region. The agency also provided by-lined articles by bank executives for various local and regional publications.
To give top loan executives new international and local business opportunities, the agency created case studies to all Import/Export Trade publications including The Exporter, Inside US Trade, Export America and World Trade. Sponsorship opportunities were also researched and recommended for local bi-cultural chambers of commerce, providing new promotional and networking opportunities for the bank. The Republic website was furnished with published articles to post on their website throughout the introduction.