The Trust Deficit — When Your Banker is No Longer a Neighbor.
A generation ago, our bankers were neighbors. While banks periodically had communications challenges, there was also a locally-based relationship that bought time and trust. While the merger of banks has provided great efficiencies it has also made them strangers in their own neighborhoods. Advertising and CSR alone cannot bridge that trust gap.
Banks and non-banks now face unprecedented challenges in the marketplace. Scrutiny by state, federal and global regulators has led to negative media attention, fueling the anger of an untrusting public that is quick to place blame. The resulting trust deficit has created an adversarial relationship between banks and non-banks, the regulators that oversee them and even their own customers, leading to a highly regulated and volatile environment.
A Dynamic Strategy that Addresses All Audiences.
For your bank or non-bank survive a crisis, it’s important that you control the narrative, guiding online and offline conversations in the direction that suits your needs. Much more than a simple PR communication plan, you need a multifaceted strategy that considers the points of view of investors, regulators, consumers and other stakeholders so that you can fully address their concerns and begin to rebuild trust.
Working with you and your counsel, LEVICK will coordinate the resources necessary to create a dynamic communications strategy that focuses on what you’re doing right and prepares a strong defense in case things go awry. From strategic planning to risk management and business oversight, we can create and flawlessly execute on a plan to influence the conversation at all levels.
Experience:
- Bank and non-bank brand building.
- Bank and non-bank failures
- Bank and non-bank mergers
- Bank and non-bank regulation
- Bank runs
- Customer communication
- Cyber-security issues
- Financial crisis management
- Investor relations
- Media relations
- Peacetime communications strategy
