communicate magazine - matthew young
TRANSCRIPT
Together. We are Santander
Together. We are Santander
Engaging managers across the company
Aligning internal and external messages about the
brand and strategy
Making sure every employee believes in and acts on
the new brand
Measuring the effectiveness of the communication
strategy
3Re-brands: tricky things to get right
4Re-brands: tricky things to get right
5 5A brief history of Santander in the UK (Nov 2004)
Spanish ArmadaHALIFAX parent HBOS has warned
ABBEY's new Spanish owner: We're
gunning for you.
Abbey, the number two mortgage
lender after Halifax, agreed to an
Pounds 8.5billion takeover on
Monday by BANCO SANTANDER.
But HBOS chief executive James
Crosby told Sun City: "The one thing
we won't do is to sit back and make
it easy for them”.
Hola Abbey!IT WAS the news Santander executives
had been hoping for. On Tuesday night, the
chief executive of HBOS, James Crosby,
got into a cab at Heathrow airport and made
the call that ended weeks of speculation
that he was not going to counter bid
Santander's approach for Abbey National.
Hasta la vista AbbeyTakeover by Spanish gets si senor
ABBEY NATIONAL will soon be in
Spanish hands after an £ 8.9billion bid
from BANCO SANTANDER was
approved yesterday.
Angry investors
protest British
developer Abbey's sale
to Spanish bank
It was never going to be a quiet
event. But yesterday's meeting for
shareholders in Abbey to vote on its
9 billion pounds takeover by
Spain's Banco Santander set a new
standard for investor rebellion.
Two years to
turn around
AbbeyAbbey National will take two
years to turn around, its Spanish
owners warned yesterday as
they insisted they were making
progress…
El of a blow for
Abbey Brits ABBEY National will have a Spanish
chief executive once the £9 billion
takeover by Banco Santander Central
Hispano is completed, it was announced
yesterday.
The Spanish bidder's chairman Emilio
Botin squashed expectations that a Brit
would be appointed to the post.
Investor tries to block Abbey dealAbbey National faces a high court challenge to its £9bn takeover
by Banco Santander Central Hispano because of concerns
about criminal charges faced by executives of the Spanish bank.
The Sun
The SunDaily Telegraph
The Daily Mail
The Daily Star
Express on Sunday
Independent on Sunday
Abbey bids adios as listing
goes to Madrid SHARES in Abbey National, Britain's second-biggest
mortgage lender, traded for the last time yesterday ahead
of the completion of its Pounds 9.6 billion acquisition by
Banco Santander Central Hispano, Spain's biggest bank.
The Times
Benchmark Employee Opinion
We launched our first Employee Opinion Survey (EOS)
It wasn‟t great – we were c.20 points below the sector
average in most areas
Staff said we were particularly bad in the following areas:
– Making Abbey a rewarding place to work
– Delivering for customers
– Senior leadership visibility
Undeterred, we carried on…
7 7Communication channels open…
8 8Business begins to turn around…
Daily Telegraph
The Independent
City AM
Reuters
The Times
The Sunday Times
Yorkshire Post
The Independent
9 9Corporate profile improves…
Financial Times
The Times
As Abbey chief executive Antonio Horta-Osorio told Gordon Brown at
last month's meeting at 10 Downing Street, there is a real threat that
high funding costs will result in smaller building societies being priced
out of the market.
Mr Darling met representatives from the six biggest clearing banks
yesterday, Lloyds, Barclays, RBS, HBOS, Abbey and HSBC, to agree
measures to help home owners before they get into debt.
“Antonio Horta-Osorio, the chief executive of Abbey, then left Brown
with some stark choices. If you want the big banks to end up with
100% of the UK mortgage market, the straight-talking Spaniard said,
then do nothing. If you want choice in the market – and for building
societies to survive – then the government would have to do
something.”
FINANCIAL TIMES“The chief executive knew that he faced a serious challenge and
decided, as he had when creating Santander's Brazilian business and
running its Portuguese operations, to move quickly. “
“Among those attending Downing Street with Gordon Brown on
Tuesday were Sir Fred Goodwin of Royal Bank of Scotland, John
Varley of Barclays, Andy Hornby of HBOS, Michael Geoghegan of
HSBC, and Antonio Horta-Osorio of Abbey. “
10 10Consumer media onside…
Savings
Credit Cards
Mortgages
11 11Employees told us “you need to do more”
We repeated the survey a saw a slight improvement, but not
significant.
Building on the three themes we added two more:
Making Abbey a rewarding place to work
– Delivering for customers
– Senior leadership visibility
– Communications
– Improving how we work together
We engaged our senior leadership population to manage
this
12 12New communications channels…
QuickTime™ and a decompressor
are needed to see this picture.
13 15Nothing like a crisis…
14Corporate Press Score
45 05 -40 -95
-235
-695
-700
-600
-500
-400
-300
-200
-100
00
100
18
Further UK acquisitions
Awareness building...
Awareness of Santander has increased considerably
– Over 90% of consumers recognise the brand
Customers value and appreciate the strength and financial security that being part of a global bank offers
Customers will have the advantage of greater access to Santander through more than 1,300 branches
For employees, greater career opportunities, more development
A strong commercial rationale for the change…
18 19“Three into one” - introducing Santander‟s values and brand
A new brand promise…. “ We want your business. So we’re always
looking to make banking work better for you and we’ll never take you for
granted”
Introducing the Group values – leadership, dynamism, commercial
drive, innovation, strength and professional ethics
Introducing the worldwide employee brand “Santander is you”
– a global initiative that aims to build engagement with our employees
and reinforces the advantages of working for a successful global
company.
– The key focus of the 2009 campaign is that Santander is a close, strong
and solid company, which is why it is the best place to work.
19Rebrand as part of a new strategy
20The rebrand - reception 20
21 18“We are Santander”
“You speak, we act”
A more rewarding place to work – up 22%
Delivering for customers – up 22%
Senior Leadership visibility – up 9%
Communications – up 17%
Working Together – up 10%
Moving us from below the average of the sector to being above
average in most areas
Understanding of our vision – stands at 84%
96% of staff understood why we were rebranding
Pride in the Santander brand stands at 91%
22 21What have we learnt?
A rebranding has to be led by the employees
Rebrands should not be attempted with:
– High-levels of internal disengagement / disengagement
– Limited or no understanding of the rationale
Business success is only one driver of engagement – it is also a
relative measure
Rebrands have to be perceived as a „step change‟ – with benefits
for employees and customers
Timing is everything
Don‟t use an electric blind to reveal your new brand