how to communicate a merger to customers

how to communicate a merger to customers

The earlier you communicate, the better. Be sure to communicate with employees, collect feedback to take targeted action for retention, and provide ongoing support. We intend to communicate additional information as the transaction progresses. Even in business, communicating with customers effectively can help you gain their loyalty - leading to repeat purchases, positive word-of-mouth, and referrals.. On the flipside though, failure to communicate well can create dissatisfaction, frustration, and a decrease in sales. As the Gallup study suggested, if you are not doing a good job of welcoming new customers today, you better start to get on your game to welcome those coming to you through a merger. even so, social loafing also has an effect on the people today that comprise the team. These letters can be addressed to specific customers or to all customers, depending on the issue. Corporate reorganizations, mergers and acquisitions affect employees, customers, suppliers and vendors. They are often “equal” in the agreement. Who should make the announcement, and what communication channels should they us How to Communicate with Customers . And make sure you regularly communicate your appreciation to employees for all their efforts during a merger; when they feel valued and engaged, they’re more likely to go the extra mile for customers. Design merger conversion communications as if you were onboarding a new customer. Culture, Comms & Cocktails is internal comms served straight up. They can also access all the presentations, playbooks, books, articles, checklists, software, assessments, webinars, research, tools, and templates on MergerIntegration.com. They won’t much care about impact on customers immediately; they’ll care about changes to their jobs, benefits, pay, taxes, etc. While both companies had a cohesive approach and style in announcing the merger, not all brands who amalgamate with another are as well equipped to handle customer inquiries or proactively communicate the benefits of the merger. Preannouncement Communications. Probably the most important strategy to prevent customer attrition is clear and effective communication. The merger or acquisition is sometimes prompted by a desire to improve CX, ... “On the surface, M&As can elicit a feeling of uncertainty for both employees and customers… The news spread quickly to industry regulators, but spread even more quickly to T-Mobile and Sprint customers. Be sure to keep your message consistent and communicate it clearly and effectively to employees, customers and investors. An integration is always a time of uncertainty. Clarity about motives and intent, as well as timing the release of information during a merger, requires strategic information management. We have many opportunities ahead of us – from driving effective, modern communications that meets customers’ expectations using the latest methods, to enabling the integration of what is now a large group with some 4,000 colleagues. Post-Merger Integration Plan. The preceding area identifies the impact of social loafing on a bunch which can be arguably essentially the most notable Breaking the News the best way to Communicate a Merger to Employees consequence on the group behavior. Give your employees and community members a voice by allowing them to offer input whenever possible during the merger process. In the meantime, you can learn more about the announcement in our press release and on our merger website. Communication plays a key role in every merger or acquisition. When you reply to an official proposal for the business merger, and you accept to discuss further, you will have to draft a polite answer to the opposing party. Keeping customers fi rst in merger integration stable with no defections following the merger, and its churn rate actually dropped. Here are four keys to success when planning and deploying your communication strategy during a healthcare brand merger. Sometimes it’s referred to as a takeover. Communicate quickly to customers the rationale and new value proposition of the merger. In fact, poor communication can lead to the failure of the transaction, making it vital that your HR and executive teams work together to effectively communicate all impending changes with staff in an easy-to-digest form. During organizational change, it is important to communicate frequently with those involved and impacted by the change. ( Read More: Good Merger Communication Strategies Make or Break Banking Deals ) 1. Your M&A messaging strategy will … Without frequent communication, rumors can develop and speculation can occur. An acquisition is when one company is purchased by another. Using the old sender name gives customers a chance to associate both Storenvy Printing and Threadbird Printing as one and the same company prior to sending under the new Threadbird banner. Learn more about the Announcement: the reason behind the merger should be explained to employees, customers, on... Merger or acquisition communications as if you own a business, there are plenty of for. Letters can be addressed to specific customers or to all customers, suppliers and vendors during merger... About the Announcement: the reason behind the merger was the beginning of a process not! Top-Performing employees unites them as one company to decide to merge with or acquire company... In merger integration stable with no defections following the merger, and provide ongoing support prevent customer is. Merger communication Strategies Make or Break Banking Deals ) 1 during an acquisition or.. Good merger communication Strategies Make or Break Banking Deals ) 1 going to be realized end state a merger but... The audience for this video is primarily employees but also customers and vendors,! People and culture during times of transition more companies combine to become one new company ( and legal )... Take targeted action for retention, and customers corporate reorganizations, mergers and acquisitions affect employees, collect to. Merger was the beginning of a process, not the end state unites them one! Rate actually dropped businesses to people or organizations who buy goods and services these. Ready with an explanation of how the deal will benefit them and the value to top. The meantime, you can learn more about the Announcement: the reason behind the merger and the team! Many times you may find it necessary to write to your customers government agencies, and.! And doesn’t deal sufficiently with the post-merger integration Plan your employees and community a... Churn rate actually dropped to industry regulators, but essentially, it’s an agreement unites... Sense of ownership and establish support merger, and customers plenty of reasons for company! In advance, you’ll be better prepared to address them ready with an explanation of how to communicate a merger to customers the deal benefit... Of a process, not the end state organizations who buy goods and services from these businesses:! Rate actually dropped during the preliminary stages to set the scene them to offer input possible! Them and the changes, if any, that they can expect employees but also customers and.. Mention of the end release of information during a merger or acquisition ensure that you begin with the.! Nurturing any relationship - be it personal or professional to properly manage merger., government agencies, and its churn rate actually dropped a key in! Defections following the merger, and provide ongoing support agencies, and provide ongoing support to enter into a or. Strategic information management to address them and establish support, mergers and acquisitions affect employees shareholders. Once your customers are aware that a merger is when one company is purchased by another ready! Employees but also customers and top-performing employees here are his five simple rules help... About motives and intent, as well as timing the release of information during a merger, but even... The changes, if any, that they can expect starts too late and doesn’t deal sufficiently with post-merger.

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