investment banking reputation market research - restoring trust in the financial services sector - a...
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Shareholders, Investors
Essential to have good relations at all times
“stake”: mostly financial
Stakeholder ReputationResearch
April 2014Proposal for Research
George Tsakraklides
Investment Banking
What is Trust?Ethics Behaviour
…There are many layers to trust
vs
Investors
Can I Trust you with my money?
Regulators
Can I Trust you are complying?
Media
Can I Trust your information?
Analysts
Do I Trust your figures?
Lobbying groups
Can I Trust you with the environment / community?
Can I Trust that my job and future are
safe?
Employees
What is Trust?
…and there are different types of trust
Shareholders, Investors,
Private/ corporate clients
Essential to have good relations at all times
“stake”: mostly financial
Regulatory bodies,Government/IGOs,
Politicians/LegislatorsTrade Associations
They set the policy
“stake”: legal compliance
Audiences
Media,Journalists
Ratings agencies
Key influencers of Public opinion
“stake”: Public and private interest
Financial Analysts, Think tanks, Academics
Experts and KOLs with gravitas in the industry“stake”: academic interst, financial, their
own reputation
NGOsCSR Affiliates
Local CommunitiesLobbying groups
Maintain your link to community, society“stake”: protect the community
internal Reputation Stakeholders
Employees by Division, Grade,
Front/Middle/Office, Territory etc.
Who?
Why?
Who you interact with Who you are accountable toWho the key influencers are
Stakeholder 360
• Main presence / revenue-generation territories• Strategic markets e.g. emerging economies• Important investment banking centres• Ad-hoc locations of individual experts
Terri
tories
USEuropeMiddle E. / AfricaAsia
New YorkCity of LondonFrankfurtHong KongTokyo
• Short 15 min Online quantitative survey - 1000 respondents across markets and audiences
• Statistically robust subgroups TBC
Approach
• Mix of contacts supplied by <client> (e.g. investors/clients/shareholders) and supplied/recruited by MB (e.g. media, journalists)
Sample SourceOverview
1. Reputation Health-Check and Benchmarking
What is driving your Reputation?
How strong is your reputation?How does it compare to competition?
How has it changed / why?Which audiences are most challenging?
Hygiene Factors
Selling Points
Additional DriversLow Yield
Measuring: Reputation and Brand Strength metrics
What are strengths / weaknesses of the brand?Where does trust sit within the brand?
What drives current opinion?What drives trust?
Understanding: Derived Importance / Brand Mapping/ KDA
trust and confidence will be much stronger if inspired
through leveraging existing brand strengths rather than re-
inventing from zero
Ease of doing businessTransparencyTimeliness of responseCompetencyFlexibilityTrustReliabilityFriendliness of staffHelpfulnessInnovationCSR
How well are you communicating?
Where do you score on specific issues?How about on-going initiatives?
Are there specific “thorny” issues for some audiences?
Communications effectivenesse.g. F2F vs. Social Media
Awareness, appeal, impactLevel of engagement
Very well
1 2 3 4 5 6 7 8 9 10
CSR
Trans-parency
Reliability
Credibility
Investors
Analysts
Local Gov
Media
Regulators
Not well at all
Quite well
About average
Not so well
Is the communications machine “well oiled” ?
Q How well, in your opinion, does the Investor Relations team engage with you regarding…
Q To what extent do you agree that <XX> is committed to providing you with accurate information regarding your investment?
WHAT HOW
• Short 15 min Online quantitative survey - 1000 respondents across markets and audiences
• Statistically robust subgroups TBC
Approach
Overview
1. Reputation Health-Check and Benchmarking
2. Quantitative Insights Discussion and Planning
• Selection or respondents for next stage of research, topic guide development
3. Qualitative Research – Bolstering Reputation
• What is trust? What breaks trust? What can restore it?
“Your reputation is what people say about you when you’re not in
the room”
Relationship Talk - What breaks trust?
What comes to mind…brand associationsEmotional associations
Nature of their relationship day-to-dayGood/bad experiences
Are their needs being met?
Revisiting the Trauma - What breaks trust?
LETS TALK ABOUT TRUSTe.g. pre-post Lehman
How did the relationship change?What was the decisive factor/trigger?
What is the relationship like now?
Completely spontaneousThey set the agenda
More honest Only important issues come out Is it systemic or isolated?
Is it the service, the product, the brand values?
What does trust mean to them?
How are they talking about it?What is important to them?What else are they thinking?
Define the context around Trust
What words are they using?What do these words mean to them?
What are they feeling?How can they emotionally re-engage
…seeking to “reframe” the conversation around trust based on their terms, their agenda, their
priorities. What does real trust look like, feel like, to them?
…seeking to identify the visual, emotional and other language by which trust can be
communicated back to them through the coms, the brand values and various vehicles
reliabilitytrust
safetycredibilityfear
Anger
Understand the semiotics involved
confidencerisk
transparency
• Short 15 min Online quantitative survey - 1000 respondents across markets and audiences
• Statistically robust subgroups TBC
Approach
Overview
1. Reputation Health-Check and Benchmarking
2. Quantitative Insights Discussion and Planning
• Selection or respondents for next stage of research, topic guide development
3. Qualitative Research – Bolstering Reputation
• What is trust? What breaks trust? What can restore it?
4. Coms strategy development
• Making the best out of the insights
5. Monitoring
Making the Research
COUNT
Planning and coordination of insights dissemination within the organisation in order to raise the profile of the research and get internal stakeholders on-board
Working with the coms teams, marketing heads, brand strategy and creative agencies to develop coms content based on the insights
Message testing / copy testing if further evidence is needed
Thank You
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