The role of public relations on bank performance?

Answer 1

Public relations is another word for marketing. As communications grew from word of mouth to fast reporting of corporate and government ills and skills, so marketing kept pace. With banks and other organizations now acutely aware of the speed of public and media communication we are experiencing unprecedented levels of good service from these organizations owing to good training and monitoring of staff and facilities. There will always be bad experiences, rude or apathetic staff, arrogant management, and so on, but this is becoming more and more confined to small business. Where once people retired and baked or went fishing, now people retire earlier with quite a lot of money, and, having sat behind a desk for a few decades, decide the time is right to realise their dream of being the boss. Many don't do their research, have no idea of managing a business, and haven't a clue about public relations. This is why such a large percentage of small businesses fail. The problem with larger organizations is that with the wrong people or persons running the show, whether a bank or a government department, problems don't show up at the front counter, except to the experienced observer (it is easy to analyse the health of any business from staff attitudes), and even serious problems can be hidden from top management until a disaster happens. When analysing banks' procedures, try to think of them as just any other business. They charge more than in the past, but offer services our grandparents could never have dreamt of. Incidentally, my only connection with banks is to let them keep my meagre amount of money safe.