We live in Angel Fire, New Mexico most of the year, a small resort town of about 2000 in off-season, which mushrooms to 10,000 at peak season. It's a small community with a handful of banks and retail shops and a few good restaurants. We have become active in several community groups, and I noticed recently while making arrangements for another group meeting, that there is ONE place in town that is used over and over again for meetings by EVERYONE in town --- the community room at the local Bank of America branch. In talking with one of the branch managers, they are well aware of the fact that this alone brings in MANY new customers for them, because of the proximity and people walking in their doors for meetings. The cost of adding this extra room has been paid for by the new business and community awareness of their branch and brand. So this set me to thinking about banks and how they can and SHOULD become a part of the community, which pays off in lots of ways. Community relationships must be a major part of any marketing plan for banks wanting to conserve advertising dollars, and yet get their name recognition boosted and out there so people will recognize it.
Community relations is the art of becoming an insider in the community. This requires three important stepping stones:
* dialogue - establishing two-way communication.
* integrity - being what you say you are.
* credibility - you are believable and believed.
It is worth noting that the words community and communications have the same Latin root - communitas - meaning shared. Community relations is the practice of communicating with the community to establish and maintain mutually good relationships. Good community relations is about being a good corporate citizen. A good neighbor. A wise neighbor. And most banks know this. Most banks even designate a specific employee to oversee their relationship with their community.
SOME IDEAS FOR COMMUNITY ENGAGEMENT:
• Community Rooms offering meeting free meeting space for community groups and organizations.
• Braille bank statements made available for visually-handicapped people.
• Free space and publicity provided for weekend farmers' markets, school car washes, garage sales and flea markets.
• Employees should be encouraged to engage in volunteer community work and join local non-profit organizations in an effort to get to know their membership and participate in their local activities and events.
• Sponsor local events to maximize name recognition by signage, program listings, etc.
• Join local school booster clubs and set aside budgeted amounts for yearly donations, etc.
• Offer regular free blood pressure checks and hearing tests at branches.
• Offer informational meetings for community members in areas of interest to them -- for example, identity theft issues for senior adults.
• Put all the local business people and Chamber of Commerce members on permanent subscriptions to their newsletters and by doing this they can increase the exposure to their efforts.
Community relations works best where the organization identifies itself with the broader community and sees itself as part of that community. To aspire to be part of a community is to aspire to be recognized by it and invited to join it. The primary goal of community relations is to gain understanding and support for what you are doing - so maintaining and improving your position in the marketplace, your closeness to customers and your freedom to operate.
Effective community relations can provide substantial rewards in terms of:
* creating excellent marketing opportunities.
* providing a reservoir of good will for the future.
* reinforcing relationships with employees.
* building a leadership position for an organization.
Local Community Banks must support the community that supports them and remain a strong partner in economic redevelopment and down town revitalization, as well as help up and coming entrepreneurs and business people. If the bank can do this then they are well on their way to becoming successful in their area. Public relations for a local community bank are paramount if the bank is to grow in size. Failure to participate in the community at this level will cause a slower growth rates and the local community bank will be overtaken in the marketplace by larger banks with bigger marketing budgets, more advertising and a free guess for opening new accounts.
Whether the bank is located in a small or large community, I believe these are valid points that will result in the bank truly becoming an integral part of their community.
