How to Perform a Communications Audit for a Bank or Credit Union
Communications involves much more than telephones and emails. Every written or spoken word delivered internally, to management and staff, and externally, to customers and other third parties, reflects the mission and professionalism of your financial institution. It is critical to maximize the positive results of every communication. The best way to achieve this goal is to perform a "communications audit" of your institution. Here's how to do it.
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Things You'll Need
- Understanding of your communications program.
- Clear idea of your goals and objectives.
- Precise picture of your branding strategy.
Instructions
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Components of a Communications Audit for a Bank or Credit Union
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Make a checklist of ALL communications from your institution. List every internal and external message sent, be it oral or written. At a minimum, your list should include organizational and operational communication, email and Internet messages, customer service-related messages, marketing and sales communications, required communications like monthly statements, privacy notices, product or loan disclosures, and regulatory notices, telephone and memo messages, window and lobby displays, media communications, Internet banking and web marketing copy.
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Evaluate how each communications component relates to and represents your branding image objectives. Any elements, even if they appear to be effective, that deviate from your brand messages should probably be modified to exhibit more consistency with your overall brand strategy.
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Evaluate each component in your communications program, much as your CPA firm evaluates all accounting and control functions during your annual corporate audit. Look for individual strengths and weaknesses, while considering the overall effectiveness of each component. For example, a spectacular lobby display that does little to send the desired message to customers, although wonderful art, may need improvement to stay on focus.
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Rank (or rate) the effectiveness, professionalism and consistency of your communications components. Use any format that makes sense to you and your team. You might use a numeric rating, possibly from one to five, or a text-based system (excellent, good, fair, and poor). Are your communications clear, honest, positive, useful, tasteful, and professional? The key to effective rankings is "honesty". Your evaluation of each communications element should be based on an objective evaluation of the quality of your corporate messages.
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Address all deficiencies noted, just as you do after your annual financial audit report, which highlights all areas that need improvement. Your top goals should be to - - Upgrade any communication components that display deficiency, and - Coordinate all communication elements with your brand strategy.The key objective will all levels and types of communication is to improve the quality of your brand integrity. The result of this audit, if areas are addressed effectively, will be to differentiate your institution from your competition by ensuring your communications are clear, precise, and effective.
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Tips & Warnings
In addition to the communications components noted, be sure to include areas specific to your institution. Things like supported charities, community specific activities, and youth, high school, and/or college sports teams you support.
You may or may not need outside professional assistance to evaluate and upgrade your communications program. Once again, be honest to achieve the best result for your institution.
Don't assume that, because you have some graphically stunning window displays, an exciting website, or expensive media advertising programs, you're achieving your communications goals. Evaluate these seemingly wonderful components with gusto. Are they delivering the message clearly and in concert with your overall branding strategy? If not, modify them.
Don't overlook all feedback your institution has received from customers and the communities you serve. This is the only true test of the success or mediocrity of your communications program.
