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Workshop E

Driving the Future: Reputation

in the Banking Industry

Workshop Day Sponsor

Presenters

• Enrique Johnson, Director Spain & Latam, Reputation Institute

• Iñigo Roy, Head of Communication, Brand, and Reputation Metrics,

CaixaBank

• Patricia Junyent, Chief Product Officer, Acceso

Moderator

• Ángel Alloza, CEO, Corporate Excellence – Centre for Reputation

Leadership & former Global Director of Communications Strategy,

Brand, Reputation and Metrics, BBVA

Ángel Alloza

CEO, Corporate Excellence – Centre for Reputation

Leadership

@aalloza

@CE4reputation

www.corporateexcellence.org

Corporate Excellence - Centre for Reputation Leadership

A Think Tank of applied research and knowledge in intangible assets measurement and management

Working together

Navigating in the Intangible & Reputation´s

Economy Half of the value of Companies is based in its intangible assets

Intangible

assets(52%)

Tangible assets(48%)

Source: 2017 BrandFinance® Global Intangible Finance Tracker (GIFT™)

Global Enterprise Value 2001 – 2016 (%)

Source: Brand Finance, 2017

Roadmap for integrated management of intangibles

Source: Corporate Excellence – Centre for Reputation Leadership,

STEP 1

Corporate Purpose

Identify keystakeholders, contactpoints and importanttasks. Diagnosis of theidentity (mission and vision), positioning(brand and communication) and reputation: risks and opportunities.

Initial Stage Control Stage Advanced Stage

STEP 2

Advanced

Measurement

Regularly evaluatecommunication, reputation, brand and experience of keystakeholders in connection withimportant tasks as wellas key markets and operations.

STEP 3

Breaking Silos

Structured process(firmwide committeedriven by the CEO) tocut through divisional barriers and involvekey directors intomanagement of intangibles and internal control.

STEP 4

Key Intangibles´sKPY

Link non-financialindicators with businessresults in order tointroduce them into theagenda of theManagement Committee.*Reputation, brand, experience, customersatisfaction, commitment of the employees and thepropensity to recommend.

STEP 5

Differentiaton &

Reputation

Development of a sustainabledifferentiation strategyintegrated in business: reputation, brand, communication, publicaffairs and measurement tools.

Know-How developed over 15 years of business practice for efficient implementation of intangible assets management.

Source:Corporate Excellence – Centrefor Reputation Leadership,2018Source:Corporate Excellence – Centrefor Reputation Leadership,2018Source:Corporate Excellence – Centrefor Reputation Leadership,2018Source:Corporate Excellence – Centrefor Reputation Leadership,2018

ReputationIdentity,

Aligment & Brand

Sustainability,

CSR & Governance

Communication Prospective &

Public AffairsTalent

Advanced

Metrics

Corporate Excellence

Academy

Communication, Brand & Reputation Scorecard demonstrating brand & reputation impact on

business

Advertising & Sponsorship

Processes

Products

Experience

Reputation

Recommendati

Consideration

Purchase

Invest in

Work for

Advocate

Perceptions Attitudes Behaviours

CAUSES CONSEQUENCES

TO COMMUNICATE

Employee

Social media

Source: Corporate Excellence – Centre for Reputation Leadership, 2018

Methodoly for measuring and managing reputation RepTrak® system

Source: Reputation Institute

PRODUCTS & SERVICES

INNOVATION

WORKPLACE

GOVERNANCE

CITIZENSHIP

LEADERSHIP

PERFORMANCE

REPTRAK® DIMENSIONS

Rational Drivers

REPTRAK® PULSE

Overall Reputation

SUPPORTIVE BEHAVIOURS

Outcomes

PURCHASE

ADVOCATE FOR

ACCEPT

DEFEND

WORK FOR

INVEST IN

Business Impact

RETENTION

RENTABILITY

SATISFACTION

MARLET SHARE

LOYALTY

Measuring Reputation The banking sector ranks last in the reputation industries ranking in

Source: Reputation Institute

Retail-Varios(9)

Tecnología(15)

Alimentación(14)

Automoción(12)

Bebidas(3)

ProductosdeConsumo(9)

Textil(8)

Retail-Alimentación(8)

Transporteylogística(6)

Farma(1)

Informaciónymedios(6)

Seguros(8)

Aerolíneas(4)

Hostelería/Restauración(4)

Energía(8)

Construcción(3)

Telecomunicaciones(7)

Banca(12)

Vs‘17

Retail-Varios(9)

Tecnología(15)

Alimentación(14)

Automoción(12)

Bebidas(3)

ProductosdeConsumo(9)

Textil(8)

Retail-Alimentación(8)

Transporteylogística(6)

Farma(1)

Informaciónymedios(6)

Seguros(8)

Aerolíneas(4)

Hostelería/Restauración(4)

Energía(8)

Construcción(3)

Telecomunicaciones(7)

Banca(12)

Excellent > 80

Strong 70-79

Middle 60-69

Weak 40-59

Poor < 40

Excellence in

Performance Excellence in

Communication

Social context + Industry Reputation

Realistic

Reputation Goal

71,6% Market share

Reputation in the Banking Industry in

Spain 7 Banks are measuring reputation using the same methodology provided by

Reputation Institute and supervised by Corporate Excellence Centre for

Reputation Leadership

Enrique Johnson

Director Spain & Latam, Reputation

Institute

A difficult context

Infoxication Hyper-

transparency Trust

*Edelman TRUST Barometer 2018

Consequences…

“Commoditization”

R2 = 0,69

Starting point:

Banking

RepTrak® Model:

Participation of the 5 banks

In depth interviews with Top

Management of each bank

Focus Groups among the general

public & clients in Spain

List of attributes

Workshop with all the clients

Define the final industry model

(decision & Statistics results)

How we developed the project

R2 = 0,83

Banking

RepTrak® Model:

R2 = 0,69

Starting point:

Reputation in the Banking Industry –

How is the sector addressing this situation?

It is a sector-specific issue

New platforms

Back to Basics

Differentiation

Iñigo Roy

Head of Brand, Communication and Reputation

Metrics, CaixaBank

Reputation and Brand metrics in financial companies:

from self-justification to leading long run goals

Metrics of crisis vs metrics of achievement

Two historical examples

World War I

5 years of chaos and destruction

18 million deaths and 23 million wounded

Collective failure

The Parthenon

Finest example of Greek architecture

Finished in 9 years by 10.000 citizens

Collective success

It won´t happen again: Reputational Risk Management

The ECB, the League of Nations and mother-son relationships

Common Framework

Reputational metrics

Quarterly reporting

Promotion of World Peace 1919

Enhance cooperation

¿Historical success?

‘Behave’

‘I didn´t do it’

Aspirational approach: Reputation and Strategic Plans

The key to a successful and healthy relationship with our clients

Progress

Trust Dialogue Support

Metrics: are we getting any closer to where we want to arrive?

What about my peers?

What are we measuring and why?

Different metrics for different stories

1. PREVENTION AND CRISIS MANAGEMENT

Anticipation, detection and crisis management

• Transversal Prevention Plan

• Media & Social Media Analytics

• Crisis management in media and social media

• Measuring the impact of crises on stakeholder perception

2. REPUTATIONAL ENHACEMENT

Contribution to the strategic objective

• Promotion of key values in advertising, media and social media

• Economic calculation of contribution to the business

• Measurement of social impact (return)

• Contrast of the perception with the social expectation on the financial sector

3. EFFICIENCY OF INTANGIBLES

Profitability of diffusion channels

• Return metrics in all areas (Communication / Sponsorship / Advertising & Brand / Institutional Relations)

• Optimal mix of Owned & Paid & Earned channels

• Balancing offline and online dimensions

Supervisory approach

Customer and Social approach

Corporate Approach

1 relevant figure always better than a soup of numbers

Avoid self-referential metrics and doctoral thesis on the impact of a campaign

Customer/Society point of view Corporate self-centered point of view

Hi, I´m a bipedal hominin characterized by having higher

and vertical forehead, brain volume of about 1,400 cc, smaller

teeth and jaw, and prominent chin relative to earlier hominins. I

solve problems through sense and reasoning, use symbols and

language and create complex social structures

Hi, I´m Matt, I´m into team sports, TV

comedies and hanging around with my

friends

Speaking Reputation Language to a Financial Board

Be accurate but don´t get boring: it´s our customer’s illusions and our social impact we´re talking about

Efficiency Owned Paid Earned

Media Offline + Online

Social Media Owned/Earned

Sponsorship Soccer / Basket / Running

Brand & Advertising Tracking / Impacts / Engagement

Institutional Rel. Events / internal Consulting

Contribution

to Reputation

Reputation Brand Business

New channels

(liquidity)

values Commercial

return

Patricia Junyet

Chief Product Officer, Acceso

IMPACT OF SOCIAL, MEDIA, WOM IN REPUTATION

INDUSTRY APPROACH

OPPORTUNITIES FOR EVOLUTION

Communication is essential to influence people’s perceptions, and

these perceptions have an impact on business

COMMUNICATION REPUTATION BUSINESS

Good communication can help increase reputation

For each % point in Awareness, we could get 2,8 pp in Reputation (avg)

Top2B People that recall communication from Companies

Source: Data Reptrack 2017. Elaboration Acceso.

Reputation can help increase recommendation.

Source: US Reptrack 2017

Reputation +5 points -> Recommendation + 7.4% Reputation +5 points -> Recommendation + 6.2%

Why is recommendation important?

Source: Acceso Owned Studies.

It plays a central role in today’s communication to change perceptions.

WOM, Trial/Experience, Social, and Expert endorsements have a

significant impact on perceptions and business results (sales)

Source: Acceso Proprietary Studies. Survey Consumers. Modelling for contribution according to Survey & Investment

Wom CONTRIBUTION to Brand Perception: 8.7% INFLUENCE of Touchpoints to … be aware, form an opinion, or choose a brand

Illustrative Data

INDUSTRY APPROACH

Reputation Pulse by Industry

Source: RepTrack 2017 (Mar)

Reputation of the banking industry has not yet recovered as a consequence

of the financial crisis, later scandals, and the political situation

There is an opportunity to address new targets, citizens

It is no longer sufficient to understand and address technical stakeholders.

CITIZENS became KEY PLAYERS in building brand reputation.

24% of Social Media users follow influencers, 23% follow brands, and

12% are talking about products they’ve buyed or want to buy.

Source: IAB – Estudio anual RRSS 2017. Muestra 1.068 individuos.

After academic and technical experts, “A person like yourself” is the

most credible spokesperson when forming the opinion of a brand

Source: Merco 2017 (800 empresas españolas de mejor

reputación) Posición en el Ranking Reputación.

Ranking in Reputation for the Banking Industry.

Evaluation from different Stakeholders

And an opportunity to better adjust the messages to their needs

Source: Havas. Meaningul brands. 2017

84% OF CONSUMERS

EXPECT BRANDS TO PROVIDE CONTENT

60% OF CONTENT IS

IRRELEVANT

60% of all content produced by

brands is declared as poor,

irrelevant or failing to deliver

To: Inspire / Educate / To

reward/ Inform / Help/ Entertain

Source: Reptrack Bank Industry 2017.

Acceso Monitoring Mentions per Territory.

Illustrative Data

Awareness per channel, and Reputation per Channel (T2)

We could also improve the effectiveness of investments by channel

Illustrative - Fake Data

OPPORTUNITES TO EVOLVE

HOW TO BUILD REPUTATION?

WE NEED TO EARN IT, WE CANNOT BUY IT

UNDER NEW RULES

TRANSPARENT, CLOSE LANGUAGE

“WHAT DOES IT MEAN FOR THEM?”

CONTENT VS ADVERTISING

“WHICH FORMATS, PLATFORMS, CHANNELS”

INFLUENCERS IN ADDITION TO MEDIA

“NEW WAYS FOR PERSUASION”

INCREASED CRISIS RISK

“ALLOW FOR ANSWERS.. & MANAGE THEM”

DATA & INTELLIGENCE TO DECIDE

“OPPORTUNITIES ON PLANNING & IMPACT”

CITIZENS DECIDE

“AND THERE IS NO WAY BACK”

GAFA: MAKE IT EASY, USER EXPERIENCE, TRANSPARENCY

ING Direct, Bankinter, EvoBank, mejores valorados

por consumidores. ¿why?

Que es lo que más valoran los consumidores de los

bancos?

1. Transparencia 2. Comisiones para él, no

para el banco 3. Hacerlo fácil, oficina en el

bolsillo

A CLEAR CHALLENGE. ASK THEM ! OWN CHANNELS, CLIENT SERVICE CHANNELS

NEW ALLIES THAT NEED TO BE ADDRESSED BETTER TO PREVENT THAN TO RECOVER

CITIZENS

UNDERSTAND

CITIZENS

UNDERSTAND

KEY PLAYERS

STRATEGIC

PLANNING

MEASURE

IMPACT

CONTENT

PLANNING

REVIEW

OBJECTIVES

CITIZENS

AND … MAKE IT SIMPLE

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Our passion, as non-profit organization, is sharing

knowledge on intangible assets measurement and

management!

Driving the Future: Reputation

in the Banking Industry

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