Hi Rebecca, thank you for clarifying the buyer and seller roles in this communication process with customers. Understanding those roles are so important as part of getting the word out to customers effectively.
Original Message:
Sent: 2024-01-18 14:50
From: Rebecca Mox-Persak
Subject: What about the customer?
Hi Dawn, Great question! And Gloria, I love your response. Our standard communications practice when we acquire others is exactly as you described. The buy side will own this, but it should be in partnership with the sell side. The sell side should be waving their hands asking for participation if not automatically being brought in. Transparency is key, as others stated too. There is a story to be told - there should be a positive impact for clients of the acquired organization. Message those front and center, and deliver that message with leadership from the buyer.
------------------------------
Becky Persak
Aon
Head of M&A - Leadership, Culture & Change
Original Message:
Sent: 2024-01-18 11:09
From: Gloria Archer
Subject: What about the customer?
Hi Dawn,
This is a great question, with some valid points on preserving the customer relationship.
As part of preserving the customer relationship while complying with the company's Confidentiality and Non-Disclosure policies, I would first ensure the following as part of the Stakeholder Engagement Plan:
- Key messages have been pre-identified and developed for the customer stakeholder group in relation to the M&A (What information do our customers need to know, when, and why).
- Senders of the information and communication vehicles have been pre-identified for communicating the key messages to the customer stakeholder group. (Who and how clients hear about the information is essential for credibility and legal compliance).
- Most importantly, prior to disseminating information with customers (public and non-public), I would ensure that all messages have been formally reviewed and approved by the company's Corporate Communications, Public Relations, and Legal Groups (and any other function that is part of the M&A Communications Approval Framework). Failure to do so could lead to unintended impacts with adverse outcomes.
I'm confident that you and your team have this covered and wish you all the best in this M&A transformation journey.
Warmest Regards,
Gloria Archer, MBA, CCMP, PMP, Prosci
gloria@evolvsysllc.com
------------------------------
Gloria Archer
Original Message:
Sent: 2024-01-17 14:38
From: Dawn Feltner
Subject: What about the customer?
Hey Folks,
Word on the street is your company is merging or being acquired, and you have some loyal and now very curious customers (rightfully so). How do you preserve and enhance the customer experience and loyalty during a merger or acquisition? What are some ways to communicate the benefits and value proposition of the new company to your customers?
We tend to focus on a successful merger/acquisition at the company level - but neither company exists without its customers!
------------------------------
Dawn Feltner
------------------------------