Corporate Digital Communication (2305) 40068636 DEC-20

1
Corporate Digital Communication (2305) 40068636 DEC-20

Table of Contents
Task 1
1.1 Organizational Background .................................................................................................................... 6
Key customer Segment ................................................................................................................... 6
Social Media Presence ..................................................................................................................... 6
Stakeholders of NTB (in order of impact on CR) ............................................................................ 6
Size of the Organization................................................................................................................... 6
Type of the Organization ................................................................................................................ 6
Products and Services ..................................................................................................................... 6
Organization name ........................................................................................................................... 6
Competition .................................................................................................................................... 7
1.1.9 Theme Chosen and the Rationale For the chosen theme ..................................................................... 7
1.2 Critical Evaluation of Corporate Reputation, Image and identity in terms of support towards achieving
Customer Loyalty.......................................................................................................................................... 8
1.2.1 Importance of Managing Corporate Reputation to improve Customer Loyalty .............................. 8
1.2.2 Critical Evaluation of corporate Identity, Image and reputation ...................................................... 8

Task 2
2.1 Critical Evaluation of current corporate strategy, structure, systems and culture in relation to
positioning and reputations while assessing the gaps and providing recommendations to minimize gaps 16
2.2 Outline strategy for developing corporate reputation to brand equity of NTB to gain customer loyalty.
.................................................................................................................................................................... 19
2.2.1 Strategies to develop CR to BE...................................................................................................... 20
2.2.2 Employees Role ............................................................................................................................. 21
2.3 Approaches to Measure and Monitor Brand Equity ............................................................................. 23

Task 3
3.1 Assessing Environmental trends and its effect on stakeholders Digital Behavior and providing suitable
suggestions to align digital communications to achieve organizational goals ............................................ 27
3.2Critical appraisal of available digital channels and advancements in digital tools to enhance Customer
Loyalty and Corporate Reputation .............................................................................................................. 29
3.3 Recommending and Justifying a Digital communication Strategy for NTB and outlining two
Measuring instruments for Organizational Reputation ............................................................................... 31
3.3.1 Recommendation for a Digital Strategy......................................................................................... 31

2
Corporate Digital Communication (2305) 40068636 DEC-20

3.3.2 Outlining digital technology suites to monitor and Manage NTB Corporate Reputation.............. 32

Annexures
Annexure 1: PESTEL Analysis
Annexure 2: Drivers of Corporate Reputation
Annexure 3: ACI2D Test
Annexure 4: Character traits in corporate personality model
Annexure 5: RepTrack Model
Annexure 6: Digital Audit
Annexure 7: NTB Vision and Mission
Annexure 8: NTB Customer Segmentation
References ................................................................................................................................................... 50

List of Abbreviations
Term Abbreviation
Corporate Reputation CR
Brand Equity BR
Nations Trust Bank NTB
Corporate Social Responsibility CSR
Digital Strategy DS
Google Display Networks GDN
Return on Investment ROI
Brand Asset Valuator BAV
Word of Mouth WOM

3
Corporate Digital Communication (2305) 40068636 DEC-20

1248(excluding 1A)

4
Corporate Digital Communication (2305) 40068636 DEC-20

Task Brief

To: Corporate Management Team

From: DGM – Marketing

Date: 27th November 2020

The Task evaluates the Nations Trust Bank (NTB) Corporate identity, Image and the Corporate
Reputation which has the ability to influence Consumer Loyalty. Task outlines a stakeholder
influence on NTB’s Corporate Reputation

5
Corporate Digital Communication (2305) 40068636 DEC-20

1.1 Organizational Background

1.1.1Organization name 1.1.3 Size of the Organization

Nations Trust Bank PLC (NTB)

1.1.2 Type of the Organization

Nations Trust Bank Plc. is a listed financial organization (Bank) in
Sri Lanka. NTB was established in 1999 and is currently listed in the
Colombo stock exchange (NationsTrust, 2020). Constantly perceived
as a digital centric bank where most of the banking functions were
converted to contactless digital processes. Although market presence
is only 21 years NTB has shown significant growth within the youth
market segment.

1.1.4 Products and Services

NTB caters to both B2B and B2C sectors, depending on the sectors
NTB provides specialized services targeted at specific subsegments

• Consumer Banking • Leasing • Insurance Brokering

• Corporate Banking • Credit Cards • SME Banking
• Treasury Functions • Frimi • Property Management
• E-Wallet • Investment Banking

1.1.6 Stakeholders of NTB (in order of impact on CR)

Internal External Connected Above information as per Oct 2020.
Front office Emp. Government/CBSL Customers
Executives Media Shareholders 1.1.5 Social Media Presence
Management Society Suppliers/Partners

1.1.7 Key customer Segment

Profile Mass-Affluent
Geographic Urban
Demographic >24
Income >75,000
Level
Occupation Executives
Psychographic Upper Middle
class Figure 2: Transaction modes
Lifestyle Value for money Source: Annual Report 19
Behavioral
Sought Convenience
after Refer Annexure 8 for
Awareness High detailed consumer
Figure 1: Operating Income, Source
Annual Report 19 Brand Moderate/High segmentation.
Loyalty

6
Corporate Digital Communication (2305) 40068636 DEC-20

1.1.8 Competition
Financial Industry is highly saturated in Sri lanka as
Banks and Non- Banking Financial Organizations
(NBFC) are competing in the same arena, Although
banks are holding the majority of Market share when it
comes to deposit volumes Leasing and Credit card
facilities are dominated by NBFC’s Due to lower interest
rates compared to banks (LankaBusiness Online, 2020).
Leading competitors in the sector are Bank of Ceylon,
Peoples Bank and Commercial Bank accounting for the
highest composition of the market share (KPMG,
2020).
Competitor analysis based on PAT
Figure 3: Market Share
PAT (2019) – Profit After Tax (LKR) Source: KPMG
Bank of Ceylon 5.70 Bn
Sampath Bank 3.97 Bn When compared with the
Commercial Bank 6.80 Bn competitors of NTB, its clear
Hatton National Bank 4.80 Bn and evident that the performance
Nations Trust Bank 1.87 Bn of NTB is below par in terms of
PAT and the Market share

1.1.9 Theme Chosen and the Rationale For the chosen theme
Theme chosen: Customer Loyalty
Theoretical background:
Customer Loyalty Ladder (Payne et al,1999)

Customer Loyalty ladder visualizes the customer journey through

brand association beginning from a prospect to an advocate (Mutyala,
2017) Customer loyalty can be defined as the act of choosing a product
or a service offering of an organization over a prolonged period of time
(Beyondphilosophy, 2018).
Rationale: A loyal customer is harder to be lost and low cost to be managed (Chambers, 2020).Given
the current situation and the market position of NTB the key strategy is to develop customer Loyalty
and make as much as customers climb the ladder of Loyalty. Attracting new customers towards NTB
will be a costly endeavor, however once the customer loyalty is increased within existing customers
they will turn to advocates and will play a key role in attracting potential customers towards NTB.an
advocate refers you to others thereby creating organic communication towards potential customers. A
study conducted by Al Nsour suggests that consumers tend to trust WOM more than paid forms of
advertising.
Hence, Developing Customer Loyalty will aid in increasing profits. However, to achieve this NTB must
ensure to follow CL centric strategies by effectively allocating necessary resources towards effective
and meaningful brand building and communication.

7
Corporate Digital Communication (2305) 40068636 DEC-20

1.2 Critical Evaluation of Corporate Reputation, Image and identity in terms of support
towards achieving Customer Loyalty

1.2.1 Importance of Managing Corporate Reputation to improve Customer Loyalty

Considering the prevailing pandemic situation globally it is essential for NTB to focus on corporate
reputation management as consumers are especially sensitive during trying times, Negative impacts on
corporate reputation will lead to drastic situations if not managed strategically. As identified by Fombrun
and Van Riel in 2004 a positive reputation is a key factor in enhancing stability and resilience by generating
trust and support towards the brand and the organization during difficult times.
Hence the key focusing area for NTB should be identifying consumer purpose and requirements in banking
and fintech to provide satisfactory solutions that enhances Consumer Loyalty
Long term Goals Short Term Goals
Creating an international Footprint for NTB Expanding the Digital Footprint
Expanding to foreign Markets Increase digital banking transaction volumes and
introduce the public to convenient banking
Gain 15% Market share Improving Consumer queries solving time
Increase the Market share from 3% to 15%
Be the best CSR Focused Corporate citizen Focus on SME customers
Promote fintech to SME customers for added
convenience and transaction flexibility

1.2.2 Critical Evaluation of corporate Identity, Image and reputation

Fombrun identifies the corporate reputation as the sum perception carried by internal and external audiences
based on current past and expected actions of an organization in relation to its competitors (Fombrun, 1996).
In addition to the view point of Fombrun, Kent Campbell presents that corporate reputation depends on the
loyalty or the bond towards the organization or the enterprise (Campbell, 2018).
Fombrun further outlines the relationship between corporate image, corporate identity and how it impacts
the corporate reputation.

Corporate Identity Corporate Image Corporate Reputation

• Symbolism • Image retained by • Credibility
• Communication both internal and • Trustworthiness
• Behavior external stakeholders • Reliability
• Responsibility

Figure 4: Source: Fombrun

8
Corporate Digital Communication (2305) 40068636 DEC-20

Critical Evaluation Assessment of impact on customer Loyalty Rating

Symbolism Low
• The brand symbol depicts agility, use of the
symbol gives out the idea to all the
stakeholders that NTB as a brand is agile
towards the consumer needs and will change
according to the need of the hour to cater to
the consumers.

• The use of the brand colors Light blue and

Pink reinforces the symbolism by portraying
NTB as a youthful and trustworthy bank.

• However, the symbolism is well placed with

the right idea behind it but NTB has failed to
properly communicate the values embedded
in the corporate symbolism.

Figure 4: Brand Symbolism

*Author generated
Key elements are broken down within
the image
How the consumers differentiate you from the competitors (Olins, 1989)

Communication
• NTBs approach for communication • Lack of properly coordinated communication High
is a multichannel approach, both can result in impact on losing credibility
internal and external stakeholders are
communicated using multiple • Pertaining to the Annexure 3, AC2ID Test
communication techniques (Nations NTB has a swell established corporate identity
Trust Bank, 2020). (Actual Identity) but where it lacks is the
communicated identity. Communicated
• Even though multiple faceted identity is rated at 5/10 where drastic
communication occurs the improvements can be made.
coordination between message
delivery and the coherence is
suboptimal

• Additionally, majority of NTB

communication is English based
therefore the reach of the message to
Corporate Identity

potential customers is low within the

Sri Lankan context

9
Corporate Digital Communication (2305) 40068636 DEC-20

Behavior
• NTB aspires for an open culture • Younger customer segments who are tech High
with strong two-way savvy will be attracted towards the NTB
communication, however currently behavior and the loyalty will be positively
communication is top to bottom. affected
Overall organizational behavior takes
a tech savvy approach appealing to
young consumer segments (DailyFT,
2019)
• Corporate image portrayed by NTB • Current preposition has reached a 92% High
heavily implies modernity, customer satisfaction (NationsTrust, 2020).
Digitalization and innovation.
• However, consumers feeling alienated will
• NTB reinforces the above with a affect adversely on the customer loyalty
young workforce and a management
(NationsTrust, 2020)

• However, consumers are alienated

due to using English primarily in
Corporate Image

communication

Figure 5: digitalization
/innovation centered
communication
Annexure 2 describes in detail the High
drivers of corporate Reputation • High credibility enables to attract and retain
• High credibility due to the targeted consumer segments towards the
performance and constant organization
recognition (high rating)
• Trust by employees towards the • Boosted trust and from stakeholders both
organization is at a healthy level due internal and external enable the organization
to training and bonuses provided to navigate tough periods (Current pandemic
• Reliability rating high due to situation)
stability of services provided
however some situations where the • Improved reliability, trust, credibility results
applications have failed can be in building Customer Loyalty
observed through ratings on
application stores
Corporate Reputation

• Responsibility towards the society Figure 6: Negative reviews affecting

is highlighted in CSR initiatives and
reputation
sharing a percentage of profit
towards national causes

10
Corporate Digital Communication (2305) 40068636 DEC-20

1.3 Critical Evaluation of Stakeholders and how they can influence the corporate
reputation of the organization
Caputo and Andrea reiterated the idea put forth by Johnson and Scholes and identifies stakeholders as
individuals or groups that depend on a particular organization to full fill its needs and vice versa (Caputo
& Andrea, 2013).The stakeholder relationships are deemed codependent in its nature. Managing the
perceptions of key stakeholders are vital to maintain and increase corporate reputation and it directly affects
the customer loyalty (when addressed in terms of customer perception). However due to the codependent
nature of the relationship the stakeholders carry a significant ability to influence the corporate reputation.
Below table identifies each stakeholder and their ability to influence the corporate reputation along with
their needs and expectations.
There are three types of stakeholders, Namely Internal, Connected and External (Worthington & Bitton,
2003).

Figure 7: Types of Stakeholders /Source: Writepass.com

Stakeholder Needs and Expectations influence on CR Impact

rating
Internal Stakeholders
Executives • Favorable working environment • Employee reviews of the High
• Inclusivity in decision making organization can impact
• To feel heard within the organization corporate image (negative and
• Valued and fair compensation positive)
• Career progression and training
Management • Fair compensation • Demotivated employees may
• Favorable work environment render poor service quality
• Training and validation
• Included in key decision-making • Unprofessional/Unethical acts
processes by top management and board
members can damage brand
name and reputation

BOD • Actions taken to be supported and

backed by the lower tiers

11
Corporate Digital Communication (2305) 40068636 DEC-20

Figure 7: positive reviews by past employees

• Connected Stakeholders
Shareholders • Consistent growth of the organization • Shareholders with voting power High
• Value for their investments can push the bank to doing
• To be kept up to date regarding harmful activities to the brand
developments
• Maintaining good returns on
investments can lead to high
corporate reputation and result
in high investments in the
organization
Suppliers • On time payments • Lawsuits and action against Medium
(Tech) unfair practices can harm the
corporate reputation
Central Bank • To adhere to the guidelines • Can issue warnings that may High
(CBSL) • Ethical corporate practices alert the public including
shareholders.
• External Stakeholders
Customers • Good service standards • Negative word of mouth will High
• Listen to customer suggestions (Fast lead to extensive damage on the
turnaround times) corporate reputation
• Resolve customer queries • Customer retention will be
• High interest rates difficult therefore will increase
• Convenience the costs incurred to attract new
• Promotions/Offers customers
• Transparency • Negative customer experiences
can demotivate investors

Figure 8: Negative reviews by Customers

12
Corporate Digital Communication (2305) 40068636 DEC-20

Government • Adhering to laws and regulations. • Can impose sanctions on High

• In case of emergencies to follow operations
government relief programs for
citizens (Covid-19)
• Job creation
Rating Bodies • Disclosing data regarding the • Downgrading in ratings will High
financial performance damage the corporate reputation
• Transparency and discourage new investments
and force customers to withdraw
money
Media • Transparency in practices • Negative reports regarding the Medium
• Allowing media to cover events by organization can bring harm to
the bank the brand as media reaches wide
audiences
Community • Transparency • CSR initiatives create positive Low
• Creation of Jobs impact on CR. However, NTB
has failed to leverage it.
The below image visualizes the factors depicted above using the Mendelow’s power and interest Matrix.

Figure 9: Mendelow’s Matrix -Author Generated

13
Corporate Digital Communication (2305) 40068636 DEC-20

1998

14
Corporate Digital Communication (2305) 40068636 DEC-20

Task Brief

To: Corporate Management Team

From: DGM – Marketing

Date: 27th November 2020

The Task evaluates the Nations Trust Bank (NTB) Corporate strategy, Structure, System and the
corporate culture. The task identifies the existing gaps between NTB’s Corporate Image and the
identity. Task outlines a strategy to develop Nations Trust Banks corporate reputation in order to
uplift brand equity to gain Customer Loyalty

15
Corporate Digital Communication (2305) 40068636 DEC-20

2.1 Critical Evaluation of current corporate strategy, structure, systems and culture in
relation to positioning and reputations while assessing the gaps and providing
recommendations to minimize gaps

The corporate finance institute outlines positioning as the ability to influence the perception of the
consumer towards a brand or a product consumer relative to the competitors (The Corporate Finance
Institute, 2018).This refers to creating a unique preposition that the customers will remember a particular
brand by.
Currently the Nations Trust Bank is positioned as a tech savvy and a youthful financial organization,
the corporate strategy aligns towards creating product and services that are in line with the positioning.
Hence the majority of products and services that are offered by NTB is tech savvy and youthful. Corporate
positioning for NTB can be identified as “Most Innovative and the leader of Digital transformation
within the financial Industry in Sri Lanka”
Below Diagram captures the Corporate personality of NTB referring to the annexure 4: Character traits
in corporate personality model

Agreeable
10
8
Informality 6 Enterprise

4
2
0

Machismo Competance

Ruthlessness Chic

Figure 10: Corporate Personality Radar

The Following Table Critically evaluates the Current NTB Strategy, Current Structure, Systems and Culture
in relating to its impact on customer loyalty, Corporate reputation and the overall positioning of NTB.
Dimension Critical Evaluation Impact on CL, CP and positioning Impact
Rating
Corporate NTB follows an Execution Core values of NTB aligns with the High
Strategy excellence approach in Strategy corporate strategy and positioning.
formulation. This enables a greater With the targeted youth customer
agility and adaptability segment where the response for digital
(NationsTrust, 2020). products is high NTB has a good
chance of attracting early adopters
NTB’s Strategic Intent can be and developing customer Loyalty in
outlined as customer centric service youth segments

16
Corporate Digital Communication (2305) 40068636 DEC-20

and digital empowerment.

(Annexure 7)

Structure NTB has a tall structure with Separation and grouping may occur Moderate
multiple layers of decision makers complexities in cross functioning and
and support staff may create delays in getting problems
sorted for customers. This may result
Moderate specialization can be in creating pain for customer and
observed throughout the structure therefore adversely affecting the
and Grouping is highly enforced. customer loyalty

Communication gaps are Additionally, complexities in

apparent due to tall structure and cooperative work will affect decision
availability of multiple layers (both making and agility outlined
Horizontal and Vertical contradicting the positioning. Will
Communication) result in damage to reputation.

Divisional structure due to service

segments and branch networks,
however control over all business
functions are centralized at the head
office

Culture Harvard business review identifies Communication issues within the High
organizational culture through organize will frustrate employees and
Michael Watkins as the shared cause them to lose employee loyalty
values and believes within an towards the organization
organization (Watkins, 2013)
Due to multilayered communication
NTB’s Culture is based on familial some employees may feel unheard t
believed within the organization and
and will be frustrated towards the
practices the mantra “Simple, Smartorganization. This contradicts the
and Inclusive” inclusivity in NTB mantra and poor
service quality rendered by frustrated
Overall Workforce age average is employees will directly affect CL and
between 30-33 years for the past 5 CR
years. Hence a youthful workforce

While comparing to cultural ice burg

theory by Hall certain contradictions
arise when it comes to agility and
collaboration due to departmental
segregation (Hall, 1976)
Systems NTB utilizes multiple systems to Adoption of modern and UpToDate Moderate
accommodate various tasks. Below systems reinforce the positioning of
mentioned are the vital systems being tech savvy (KPMG, 2020)
• HRMS
• Customer Feedback survey Advanced systems aid in solving
system customer queries and capturing
feedback better resulting in customer
satisfaction

17
Corporate Digital Communication (2305) 40068636 DEC-20

• Key Risk Indicators

(KRI)System Customer satisfaction raises corporate
• Reporting Systems reputation and in turn the customer
• Firewall System loyalty
• SAP
NTB constantly upgrades core
systems for the latest as evident by
investing 567Mn during 19/20 FY
for core system infrastructure
upgrades (Nations Trust Bank,
2020).

Identified Gaps and Recommendations to overcome the gaps

Annexure 3 contains a detailed outlook on current NTB gaps between the corporate identity and the image
using ACID test model by Balmer and Greyser. Vital gaps identified are highlighted below and
recommendations are provided on how as to overcome them.
Gap Explanation Recommendation to overcome the Impact
gap on CR
Corporate Even though NTB dedicates a larger Strengthening external corporate High
communica effort towards the CSR and communications by enabling
tion mis sustainability, communications have dedicated communications to CSR
align with been unable to leverage the fact that functions and Sustainability
the desired NTB is pioneering a sustainable measures. Stakeholder perception
positioning finance movement is currently missing towards the organization will be
out on positive PR positively reinforced and CR will
increase.

Unilever has leveraged its CSR

functions well to create awareness
as to what they are doing to conserve
forests throughout the impactful
campaign of “Farewell to the
Forest” (BrandMinds, 2020),NTB
can adopt similar techniques to
bring out CSR and leverage for CR
Desired Even though equality is desired within Attracting suitable female talent Moder
values the organization the top level (BOD) towards the organization by ate
contradict contains a very low percentage of promoting diversity. Train and
the current female participation (3 Female groom females for top level
,10Male) positions. Vodafone has initiated
ReConnect project to make female
employees rejoin after taking breaks
due to pregnancies to ensure career
progressions despite of long breaks
(VerdictUK, 2018).

18
Corporate Digital Communication (2305) 40068636 DEC-20

Structural Even though agility is strongly Introducing a Matrix style High

Gap emphasized in the positioning for NTB organizational structure to the
the tall organizational structure organization (Mintzberg, 1992)
currently available creates
communication gaps. Encouraging more two-way
communication within the
organization by enabling cross
functional teams and enabling task
cultures
Communic Majority of current communications of Execution of Tri lingual High
ation gap NTB is only in English, hence certain communication. Fredriksson et al
towards groups of customers develop alienated highlights that in a multicultural
customers feelings towards the bank since the society an organization must
majority of Sri Lanka speaks Sinhala as communicate in such a way that all
the only language consumer groups feel important
(Fredriksson, et al., 2006).

2.2 Outline strategy for developing corporate reputation to brand equity of NTB to gain
customer loyalty.

Brand Equity (BE) has been defined in multiple ways. Leone et al identifies brand equity as the power
that a brand has on the consumers mindset (Leone, et al., 2006).However Simon and Sullivan takes a
financial approach in defining BE and stats that it’s the monetary value of the brand to the firm (Simon
& Sullivan, 1993).
Positive brand equity enables organizations to charge premium pricing, attract talented employees and
appeal better to customers by standing out from the competition (Marketing Evolution, 2018)
Outlined below are two strategies that can be utilized by NTB to develop corporate reputation (CR) into
brand equity and then create customer loyalty

19
Corporate Digital Communication (2305) 40068636 DEC-20

2.2.1 Strategies to develop CR to BE

Description Driving BE and customer Loyalty Relation to outlined
Objectives
According to psychology Through a loyalty program the consumer • Expanding the digital
today humans get bored association with the brand can be increased. footprint through
easily due to monotony, The targeted Mass Affluent customer increased online platform
when it comes to brands segment is susceptible to adopt such users
context the monotony of programs as well as Gen Z and Gen Y
brands drives away segments. As the brand association gets • Additional transaction
customers increased the brand recall is increased
volumes and customers to
(PsychologyToday, 2012). creating a growth to Brand Equity
gain more market share
Introduction of a loyalty
program with Frimi and
NTB will enable NTB to • Brand • International footprint
carry out differentiated and Association/Brand though foreign
novel executions Recall transactions
consistently to keep the
Introducing a cross platform loyalty program through (NTB and Frimi)

consumer engaged. • Brand Equity

E.g.-: Points collected
when making
transactions, deposits
and retentions
Figure 11: Brand Association brand Equity
Reinforcing the strategy
with attractive visuals will By providing numerous conveniences and
aid in gaining the customer rewards through the program NTB will
attraction towards the gather new and existing customers around
program the brand NTB and they will stick with the
program due to innovation and benefits
Advantages gained increasing customer loyalty
• Frimi and NTB has
established 3rd party
partnerships already,
joining in a reward
program will increase
the customer and partner
base. Enabling more
options
• NTB and Frimi has the
attention of the youth
crowd who is more
likely to embrace
loyalty programs (Gen Z
and Gen Y)

20
Corporate Digital Communication (2305) 40068636 DEC-20

One of the previously Social Activities has a positive influence • Aid in achieving the best
identified gaps for NTB in driving brand equity (Hur, et al., 2013) corporate citizen interms
Leveraging the CSR initiatives to support the Corporate brandings to enhance
during the report was the of CSR title
lack of exterior Additionally CSR initiatives enable both • Create awareness on a
communication provided customers and Employees to build a trust global level to enhance the
for CSR activities done by towards the brand and n turn gain Brand international footprint
NTB. Equity and Corporate Reputation

By providing a prominent
place within the corporate CSR
branding for the CSR
activities of NTB the
sustainability message of

Reputation
Corporate
NTB will be better

Equity
Trust

Brand
communicate to the
stakeholders

Figure 12: Relationship between Trust and CSR for

CR and BE
the appeal to stakeholders

By creating trust towards the brand through

communicating the CSR aspect to
stakeholders, the corporate image will be
enhanced and in turn the reputation of the
organization and the customer loyalty will
be positively influenced

2.2.2 Employees Role

Reichheld outlines a correlation between the employee loyalty and the customer value (Reichheld, 1996),
the relationship depicts how the employee loyalty derives increased customer value to the consumers and
how it affects in developing customer
loyalty.
Hence the Employees play a key role in
increasing the Brand Equity and the
corporate reputation for NTB.
Since banking is a service-oriented industry
the main customer touchpoint is the
customer care executives of the
organization, the way they treat and interact
with the customers directly affects the
corporate reputation of NTB.

Figure 13: Loyalty based growth cycle (Reichheld,1996)

21
Corporate Digital Communication (2305) 40068636 DEC-20

To be aligned with the outlined objectives and goals the entire workforce needs to approach a digital
first approach and actively promote using the digital facilities. Often the existing customers will face
difficulties in transitioning therefore special training needs to be provided for staff to help ease the
customers into digital transformation. The customer service quality during the transition will play a key
role in customer loyalty.
By Implementing the Loyalty based growth cycle NTB can increase the Employee loyalty. Herzberg puts
forwards the two factor theory to increase the Employee Loyalty, The theory contains the idea that to
achieve Employee Loyalty both motivational factors should be increased while taking efforts to reduce the
dissatisfying / Demotivating factors from the work Environment (Herzberg, 1974).
Motivational Factors Demotivating Factors
Increase Motivational Factors Decrease Demotivating Factors
(Improve Job Satisfaction)

• Achievement and recognition through • Constant upgrades to company infra structure

employee performance rewards programs • Providing modern work environments since the
• Establish Succession plans and progressions majority of employees are young and informed
with training and development to display about modern work environments
promising career paths to employees • Increased transparency in Administration
• Encouraging Idea generation of employees and activities (Promotions and Raises)
rewarding for them • Improving internal communication within the
• Bonuses and Special promotions for employees organization
through NTB products

22
Corporate Digital Communication (2305) 40068636 DEC-20

2.3 Approaches to Measure and Monitor Brand Equity

To track progress and keep measuring the brand equity multiples models and parameters are used by various
organizations. For NTB corporate reputation management its essential and vital to identify a suitable
framework to measure and monitor the brand equity of NTB to achieve desired targets and goals. As general
practices common to most organizations, stock prices, Shareholder value and ROI (return on investment)
are considered as universal measures of brand equity (Na, et al., 1999).
Below outlined are two approaches that can be adopted my NTB to measure and monitor Brand Equity
1. RepTrack Method

Description Measuring brand equity and its effectiveness

RepTrack system is a standardized method to • Annexure 5 discusses in detail a RepTrack model
monitor BE, it utilizes multiple stakeholders’ formulated for NTB
perceptions in to a quantifiable scale and
benchmarks the organizations reputation • For NTB Reporting structure, Growth rate and
globally (Forbes, 2007). workplace are key areas for improvement, even
though substantial improvement has been observed
compared to competition the growth is low

• NTB shows strength in various dimensions as per the

annexure 5, those strengths can be further leveraged
to gain accelerated growth to brand equity

Advantages
• Reputation can be tracked using various
dimensions providing a very comprehensive
outlook in assessing the situation

• Ability to distinctively identify areas of

improvement

Figure 14: RepTrack System Disadvantages

1. Generalized views towards aspect can induce
short-term measures and decisions to manage
CR

Relevance to the theme – Accurate track of current state of BE and bridging the gap between the
expected state is needed for NTB to achieve the outlined objectives and goals to sustain and develop
customer loyalty. the RepTrack model enables NTB to accurately track BE

23
Corporate Digital Communication (2305) 40068636 DEC-20

2. Brand Asset Valuator Model (BAV)

Description Measuring Brand Equity and effectiveness
BAV model aids in measuring the strength and Features
growth potential of the NTB brand via two aspects, 1. Relevance of brand and Differentiation
Brand Vitality and Brand Stature (Srivastava, o Allowed NTB to update as per the
2015). customer requirements and wishes.
Parallelly BAV will identify
differentiable points to create a
unique proposition for customer.
2. Brand Knowledge and Esteem
o Measures and keeps track of the
consumer awareness towards NTB
offerings and how well NTB has done
in fulfilling the brand promise
Advantages
• Clear outlook on current status and
outline improvements
• Reinforcing information regarding
measuring ROI in future marketing
Figure 15: BAV model
programs

Relevance to the theme – Assessing the growth potential and making sure NTB achieve the highest
possible result is essential in climbing up the market share ladder in a highly competitive atmosphere
model is ideal in assessing growth potential for NTB with outlined theme

Conclusion
Currently NTB has outlined a clear strategic intent for the organization. But often NTB finds itself in
situations where the strategic intent faces mismatches with the current organizational structure and
limitations in internal communications. In order to achieve the desired results of being an agile organization
improvement to the above-mentioned mismatches need to be performed. Along with improvements the
employee’s role needs to be clearly defined and steps must me taken to increase the employee loyalty
towards NTB.

24
Corporate Digital Communication (2305) 40068636 DEC-20

1503

25
Corporate Digital Communication (2305) 40068636 DEC-20

Task Brief

To: Corporate Management Team

From: DGM – Marketing

Date: 27th November 2020

The Task measures and assesses the Nations Trust Bank (NTB) stakeholder digital behavior and
the effectivity of the available digital channels in the market. Task further outlines a digital
communication strategy for NTB and recommends measuring tools to measure and manage NTB
corporate reputation across digital platforms to achieve Customer Loyalty.

26
Corporate Digital Communication (2305) 40068636 DEC-20

3.1 Assessing Environmental trends and its effect on stakeholders Digital Behavior and
providing suitable suggestions to align digital communications to achieve organizational
goals

With the rapid adaptation of smart devices among populations organizations are shifting their entire
communication models to accommodate digital communications for better targeted reach (Tractivity,
2018).The upsurge in digital communications has enabled to communicate to stakeholders with a never
before accuracy. However, for an organization to thrive with Digital Communications it needs to carefully
asses the current situations and curate strategies that are suited for the organization.
With NTB carrying a brand promise of tech savviness and convenience orientation NTB needs to have a
Digital First approach when it comes to communications in order to maintain the corporate image.
Utilization of correct tools and strategies will enable NTB to build brand awareness as well as ensuring
real-time engagement with stakeholders that will lead to customer loyalty
Critical evaluation of trends that Advantages/Disadvantages Recommended Strategy to
impact the digital behavior enhance Customer Loyalty
and justification
Fintech Innovations Advantages • Release the Open
Increasing adoption rate of fintech • Cost of servicing can be banking API
solutions relating to banking. scientifically cut down due Seamless integration of
Customers are opting to use digital to automation NTB with day-to-day
wallets and online payments for • Attract Gen Z and GenY payments.
day today spending. However, due to their inherent
within Sri Lanka the options are attraction towards Justification
limited technology (Annexure 1) Ability to make payments
• Suited for the Brand Image across platforms will
of NTB generate a level of
Disadvantages unmatched convenience
• Older customers may feel for customers. Hence, by
alienated and disregarded increasing convenience
• Additional Attention NTB will be able to Drive
Customer

towards security customer loyalty

Media Consumption Habits and Advantages • Constant engagement

Social Media • Low cost and high yield with customers through
Annexure 1 Outlines how much medium for social media, and real-
the social media has influenced the communication time solution providing
modern consumer, therefore • Accurate targeting of
majority of organizations are consumers Justification
leveraging social media for • Realtime engagement Sri Lankan Consumer is
corporate communications Disadvantages highly active on social
• Outdated /inappropriate media, even the rural
information customers and it’s the most
communicated will cause convenient way to reach
mistrust and mass interested audiences
dissatisfaction

27
Corporate Digital Communication (2305) 40068636 DEC-20

Personalized Service Advantages Providing an AI powered

Due to the highly competitive • Providing a truly customer Chatbot via website and
nature of the industry and minimal centric and highly app
switching cost customers are convenient service Enabling a chatbot to solve
expecting high level of offering to each consumer. common consumer
personalized service problems with reduced
waiting times

Justification
According to a study by
Retail Dive 70% of Gen Z
and Gen Y are happy to
Customer

interact with a chatbot to

solve their issues (Retail
Dive, 2017)
Preference of Self Care Advantages Enhancing the NTB app
Millennial and Gen Z consumers • Reduce waiting times with more features
opt to use self-servicing • Cut down operating cost Enhancing the NTB app
through automation with features like
managing standing orders
etc.
Justification
With consumer preference
to added convenience and
tech savviness they dislike
traditional practice
Preference of Self Care Advantages Implement Self HR
Similarly, to the customers even • Reduce Effort by the HR platform such as HCM
employees prefer to get things function in employee Enable employees to
done quickly and conveniently. management manage and track leaves
• Cost Effective and requests from HR
Employees

through a web portal .

Justification
Will provide a sense of
control and transparency
for the employees and give
them confidence
Upsurge of Social Media Advantages Establishing a separate
Changes in media consumption • Larger Audience and presence for CSR
has brough the public to social measurable results functions of NTB
media creating a wider platform
for communication Justification
Public

Ability to leverage the

CSR functions of the
organizations to affect the
perception of the public
thereby attracting new
customers and creating
loyalty towards the brand

28
Corporate Digital Communication (2305) 40068636 DEC-20

3.2Critical appraisal of available digital channels and advancements in digital tools to

enhance Customer Loyalty and Corporate Reputation

Corporate website is an organizations primary digital outlet where new and existing stakeholders engage
with the organization (Scholes, et al., 1998).supplementing the website support digital outlets exist in
Social Platform, Mobile Applications etc. Annexure 6 Outlines all the paid earned and the owned media
of NTB.
Below table critically asses the existing Digital channels in the market and its key developments that will
impact the organizations corporate reputation and customer loyalty.

Channel Audience Tools Purpose Evaluation of Impact

Effectiveness and Rating
impact on Corporate
reputation
Corporate Prospective Website • Disclose company • 140K+ Monthly 4/5
Website clients details visitors to NTB
Existing clients • Update on • Effective method of
Employees products and displaying products
Investors services and services to the
Community • Public Reporting consumer
• Well maintained up to
date information on
websites lead to
increasing corporate
reputation
(RecoverReputation,
2019)
Advancements that aid in enhancing corporate Reputation
• Capture customer feedback, suggestions and product/service ratings via the website using tools
such as Opinion Labs, Survey monkey.
• Facilitate two-way communication via chatbots and assistants within the website to answer
customer queries
• Web optimizing by utilizing tools such as Google mobile website speed test. important as the
majority >60% web traffic is generated through mobile devices (Satatista,2020)
Social Prospective Facebook • Reach a Mass • Two-way 5/5
Media and existing Instagram market communication
clients LinkedIn • Reinforcing brand enables t interact with
Community YouTube image of the the consumer in a
Competitors TikTok company highly effective way
Employees • Create Awareness and provide
• Two-way responses. Well
communication managed social media
with Consumers queries will result in
elevated Brand
reputation

29
Corporate Digital Communication (2305) 40068636 DEC-20

• Effective in
communicating CSR
and social activities
conducted by the
brand and achieve
emotions from
consumers
• Resolving customer
complaints swiftly
increases and
reinforces consumer
loyalty
Advancements that aid in enhancing corporate Reputation
• Leveraging Facebook algorithm to make specific posts visible only to specific customers to
draw traffic and business towards the organization. Enables higher accurate targeting and
increased ROI (WordStream, 2020)
• LinkedIn to be used to promote ideologies of the corporate to attract talent and create a
unique name for an organization at a professional’s level
• YouTube – informative video tutorials on familiarizing with products and services and
introductions of new products and services.
• Leverage functions such as Social Mention (#) to monitor what’s been discussed regarding
the brand /Organization on social media platforms (Can utilize social listening tools such as
BrandWatch to monitor customer sentiments (BrandWatch,2020)
• Instagram to drive campaigns based on CSR activities and employee life as separate
channels to reach wider audiences

30
Corporate Digital Communication (2305) 40068636 DEC-20

3.3 Recommending and Justifying a Digital communication Strategy for NTB and outlining
two Measuring instruments for Organizational Reputation
3.3.1 Recommendation for a Digital Strategy
A digital strategy based on the 5D model to overall improve the overall digital presence of NTB is
outlined below
Justification for the strategy

Since NTB is positioned as a Tec savvy, Digital oriented and convenience centric service organization its
vital to have a distinctive presence in the digital space. Due to the high market saturation and the
competition, competitors are also heavily pushing digital communication strategies to the market needs to
reinvent the digital strategy based on the outlined model to create a distinctive position.

Analysis of the current situation and the desired state

Element Current status objectives Proposed Tactics and actions KPI’s
strategy
NTB application Seamless cross Open Banking API Transaction volume to
prominence over the competition and enhancing Consumer Loyalty through better
Generate higher engagement with existing and potential customers and creating brand

can be accessed via functioning and integrating the increase by 100% after
Digital Devices

web portal ability Frimi Application releasing open

however Frimi is integration for into a Digital Wallet banking API
limited to mobile both NTB and accessible though
application Frimi (e.g.-: web platforms to be
Google Pay) used as a Digital
wallet
Currently focused Expanding the Expand to outlets Double the page reach
on Facebook, Platforms into such as TikTok and and interactions within
Digital Platforms

Instagram and youth centric YouTube to better 6 months

LinkedIn social media communicate with
Gen Z and Gen Y
communication and better service offering

Current Digital Drive towards In order to appeal to Increase follower base

Media strategy earned media youth segments and by 40% across all
focuses on Paid, and user the mast Affluent current platforms
Earned, and owned generated segment of the
media refer content targeted consumers
Annexure 6 Leverage platforms
such as Instagram,
TikTok to create
viral content that
users will give
Digital Media

organic traction to.

31
Corporate Digital Communication (2305) 40068636 DEC-20

Currently uses Gain Leverage data from google analytics and derive re marketing
Google analytics to insights strategies to target possible customers to improve digital
track data into conversion rates. Constantly tweak the targeting mechanism on
consumer par with consumer trends to produce relatable content and
behavior generate more leads.
on digital
platforms
to better
target
Digital Data

consumer
segments
for higher
ROI
Employing measuring tools to constantly keep track of Digital activities and make improvements to
the strategy.
Technology

Proposed Measuring and corporate reputation management suits

• BrandWatch
Digital

• Google Display Network

Recommended Strategy
Prioritizing • Key priority of the outlined strategy is to expand the digital footprint
Objectives of NTB to aid in maximizing the market share
• Additionally, the strategy emphasizes on gaining higher customer
inquiries via online platforms (generating Leads online)
• Recognizing customer digital patterns to fine tune product and service
offerings to match consumer behavior
• Identify customer channels and prioritize communication efforts

Define Key activities Active Listening

• Leverage the digital tools such as BrandWatch to monitor what
consumers/public are mentioning about NTB and act to counter
negative factors
Customer Tracking
• Monitoring using Google analytics about re visiting customers and
from where the customers are directed towards the website and social
media
Chatbot
• Initiate online chatbot to answer customer queries via digital platforms
Manage Big Data
• Organize and interpret data to gather important consumer insights for
future product /service launches and predict market trends
Measure and Refine • Maintaining a scorecard to keep track of digital metrics in terms of,
Reach, Engagements, Generated Leads to monitor as per the KPIs
• Constantly refine the strategy in alignment with consumer trends till
strong desired results are achieved

32
Corporate Digital Communication (2305) 40068636 DEC-20

3.3.2 Outlining digital technology suites to monitor and Manage NTB Corporate Reputation

Below outlined are two digital technology management tools that can be utilized by NTB
Tool Description Key Features Effectiveness to measure CR
Brand BrandWatch Is a social media • Can understand • Convenience in managing data
Watch monitoring tool which in- emotes and and insights due to compact and
depth analyzes the Data interpret meanings graphical dashboards
gathered from social media • Multilingual • Since Sri Lanka is multilingual
platforms of NTB. • Customizable and the ability to monitor multiple
easy to understand languages creates an accurate
BrandWatch has the ability to dashboard image
scan social media, news • Ability to understand emotes
reports, Product review sites generate feeling translations in
comments to better understand
consumer
Google GDN allows user to accurately • Understanding • Accurately measure the user
Display track and measure consumer related Keywords volumes and internet traffic
Networks engagement matrices with • Monitoring towards the website and identify
(GDN) organizations digital media behavior within a key to create a more customer
outlets. website or an friendly digital service based on
application their own data
• Track consumer • Identify how customers reach
paths to better NTB and widening the channels
identify customer by emphasizing on key sources
journey towards of internet traffic direction
organizations • Can identify what works and
media outlets what doesn’t to create a user-
friendly web service.

33
Corporate Digital Communication (2305) 40068636 DEC-20

34
Corporate Digital Communication (2305) 40068636 DEC-20

Annexure 1: PESTEL Analysis

Factor Implication Description O/T Impact
Government When governments change the policies change T H
influence including taxes and finance ratings due to
unavailability of a national finance policy
(EconomyNext, 2020)
Political instability Due to easter bombing attacks and several drastic T H
and civil unrest decisions and power turnovers sri Lankan financial
systems faces instability, however post November 16
elections in 2019 the instability has settled to a certain
Political

extent.
Financial CBSL (Central bank of Sri Lanka) places lending caps T H
Regulations and and deposit caps on financial organizations. Also
regulatory changes places tight regulations on interest rates, capital
adequacies and maintaining liquidity ratios.
Covid -19 With economic impact from covid 19 government T H
forced financial organizations to grant moratoriums to
loans and other financial facilities.

Consumer Spending Due to the recent pandemic situation most of the T H

citizens started to lose their income hence the rate of
deposits has gone down and in the meantime the
withdrawal volumes have risen (The Island, 2020)
Unemployment Impact of the pandemic has led to severe T M
unemployment in sri Lanka (DailyFT, 2020)
Economical

GDP and the Sri Lankan GDP recorded in the year 2019 was T H
inflation rate 84.01Bn USD and the growth rate retracted to 2.3%
(Trading Economics, 2020) past year the highest
contribution for GDP was made by the services sector.

Inflation rate as at 2020 3Q is recorded to be 4.67%

(Statista, 2020)
Disposable income Disposable income has reduced due to salary cuts and T M
un employment
Socio Cultural

Gen Z and Rise of Gen Z and the millennials presents an O H

Millennials opportunity as they prefer to adopt into digital
financing solutions

35
Corporate Digital Communication (2305) 40068636 DEC-20

Diversity Special consideration is given in terms of diversity O M

and inclusion within organizational contexts

Block chain and Rate of technology diffusion into financial industry O M

Crypto currency has revealed an innovation into fintech industry.

Growing popularity into e wallets and fintech

solutions
Technological

Current pandemic situation escalated the development

of fintech solutions
Security and Data With rising digital fintech solutions the requirement to T H
protection impose up to date regulations and thorough security
measures to protect consumers

Social Media and Social media has seeped into the consumers mind as a O/T M
internet usage strong medium for advertising and promotions hence
increasingly service offerings are publicized through
social media
Eliminating paper Paper usage within the banking /Financial industry O M
usage have accounted for a larger quantity of paper wastage
Environmental

hence increase trend in adopting paper less operational

practices
Sustainability and Since financial institutions are by nature maintain O H
reducing carbon multiple branch networks the carbon footprint created
footprint by normal practices is high.

Institutions are focusing on green finance practices

Anti-Trust Laws Laws to prevent malpractice within the industry to O M
avoid monopolies and unjust rates

Employee Laws and Policies that guide the fair treatment and protection of O M
terms employees
Legal

36
Corporate Digital Communication (2305) 40068636 DEC-20

Annexure 2: Drivers of Corporate Reputation

Factor Key Attributes Rating
Credibility Performance 8/10
• 3% market share in a highly competitive industry
• Total profit for 2019/2020 FY amounts to 3.7Bn LKR
• Total Assets Belonging to NTB as of 2020 LKR 325Bn (YOY
growth of 21%)
Source: Annual Report 19/20
Recognition and Awards
• Brands Lanka identified NTB as 30th Most Valuable in Sri Lanka
• Ceylon Business Today Top 30 identified NTB as 14th top brand
Source: Daily FT
Trustworthiness Employee Focus 8/10
• Investing in employee training and development (100,000+ Man
hours in Training for FY 19/20)
• Promoting Work life balance concept within the organization
• Employee retention rate of 84%

Customer Satisfaction
• Customer development programs
• Enhanced responses for customer suggestions (e.g.-: Frimi
Updates)

Reliability Customer Convenience and enhanced experience 8/10

• 80+ % in customer satisfaction score
• Empowering digital transactions (60% of total transactions were
done via digital platforms during FY 19/20)
• Net promoter score – 60

Responsibility • Adhering to sustainable development goals of UN 7/10

• CSR Focused (23.3Mn LKR in CSR activities for FY 19/20
• Steps taken to reduce the carbon footprint of the organization
• Community empowerment programs
• Child development programs in rural communities
Source: Annual Report 19/20

37
Corporate Digital Communication (2305) 40068636 DEC-20

Annexure 3: AC2ID Test

Identity Factor Description Rating
Technology focused • Leading Digital Bank in Sri Lanka 7/10
• High tech innovative digital innovations to Sri
Lankan Banking
• Multichannel approach for digital integration of
financial service
• Multitude of Digital Products (e.g.-: CDM and ATM,
Frimi, Online banking app)
Source: www.nationstrust.com
Structure • Divisional/Tall structure emphasis on inter
departments
• Separate Entity for organization wide innovation
• Customer centric and values customer input
Actual Identity

Product Range • Specified products to cater to multiple categories

(SME, Corporate, Individual, Premier)
• Amex Credit cards agent in Sri Lanka
• Frimi, Sri Lankas first digital Bank
• ATM coverage mostly focused on Colombo and
suburbs
Source: www.nationstrust.com
Organizational Culture • Emphasis on CSR throughout the organization
• “Simple, Smart and Inclusive” tagline used within the
organization as a mantra
• Organizational belief of Banking as a facilitating
business to streamline transactions within cross
platforms
• Majority of the communications are carried out in
english
Source: Annual Report 19/20
Corporate • Re branded with a new corporate identity and visual 5/10
Communication style in 2017
Communicated

• Emphasizing on the fact that NTB is the youngest full

Identity

service providing commercial bank in Sri Lanka

• Highlighting accolades
o 30th Most Valuable Brand in Sri Lanka
o Business Today Top 30 identified NTB as 14th
top brand in SL

38
Corporate Digital Communication (2305) 40068636 DEC-20

Visual Identity • Distinctive visuals identities for NTB and Frimi even
though they are the same organization.

NTB visual Identity Frimi Visual Identity

• Frimi has penetrated into top 30 Digital banks in the

APAC region

Customer Views • Famously catering for modern tech savy market 5/10
segment
• Popular among the youth segment
Conceived Identity

• Percieved as a digital heavy institution

Employee view • Dynamic work environment

Other stakeholders • CSR focused

• Multilingual communication
Core Competencies/Key • Piorneer in Digital Banking for Sri Lanka 7/10
resources • First organization in Sri Lanka to enable Open
Ideal Identity

banking Access point Interfaces(APIs)

Positioning • Most Innovative bank in Sri Lanka

• Most convienennt bank in Sri Lanka
• Best Cross platform Payment experience
Future Direction • Digitalization of Banking Processes 7/10
• Minimalizing paper usage within the banking system
Desired Identity

• Inclusion and Diversity (Decreasing gender gap

within the organization in all layers of management
including director level)
• Emphasis on Environmental Sustainablity
• Penetraion into all consumer segments and increasing
Digital wallet volumes

39
Corporate Digital Communication (2305) 40068636 DEC-20

Annexure 4: Character traits in corporate personality model

Critical evaluation in relation to the NTB positioning and Impact
impact on customer loyalty rating
Warmth Customer centric and special attention towards friendliness of 6/10
the service, quick and helpful responses for customer queries.
Such practices will result in increased satisfaction and
ultimately customer loyalty
Empathy Listening to customer suggestions and adding, removing and
Agreeable

improving certain features and mechanisms listening to

customer feedback. Such practices will result in increased
satisfaction and ultimately customer loyalty
Integrity CSR focus and being a responsible corporate citizen through
relief measures during trying times and pandemic situations,
such practices will aid in developing a positive corporate
personality in the society
Source: Annual Report 19/20
Modernity Early adoption of revolutionary fintech technologies and 5/10
mechanisms to lead the industry will encourage modernized
Enterprise

customers to embrace NTB

Adventure Introduction of Sri Lankas first Digital bank and digital wallet
Source: Annual Report 19/20
Boldness Promoting digitalized branches by going against banking
Dimensions

tradition. Investing in government securities

Drive and Entering top brand classification within sri lanka within a 5/10
Ambition short period of time by surpassing long standing brands
Competence

Conscientious Reliable service provider, notifications prior to system

maintenances and robust digital infrastructure for stable and
reliable service. Service reliability is directly proportional to
customer loyalty and customer retention
Source: Annual Report 19/20
Elegance After total rebranding in 2017 entire branding for branch 5/10
network and communications took a minimalist look to appeal
to the modernity and sleekness and elegance
Prestige 30th Most Valuable Brand in Sri Lanka
Business Today Top 30 identified NTB as 14th top brand in
SL
Chic

Customers will feel privileged and be loyal to such an

accredited brand
Source: www.nationstrust.com
Snobbery Inner circle and the private banking services are more
sophisticated and personalized to match the caliber of the
customers. Personalized service will result in higher customer
satisfaction and retention

40
Corporate Digital Communication (2305) 40068636 DEC-20

Technocracy Deep integration with technology in service delivery will

appeal to the technocratic consumer segments, usually
technocratic consumers are more business volume generators
Source: www.nationstrust.com
Dominance Leader in Digital FinTech solutions and banking with 20 years 4/10
Ruthlessness

of expertise.
Egotism With rising competition NTB has failed to leverage the USP
properly with a clear message hence even the interested
consumers may be drawn to competitors
Masculine Communication gaps rise due to language usages, since local 4/10
Machismo

society is trilingual yet NTB gives more weight to English

creating communication gaps and resulting in consumer
dissatisfaction and awareness. Consumers may feel alienated
casualty Customers can request credit debit cards via app where as 6/10
Informality

usually this requires physical visitation, this added

convenience results in customer satisfaction and delight
ultimately increasing customer loyalty
Source: www.nationstrust.com

41
Corporate Digital Communication (2305) 40068636 DEC-20

Annexure 5: RepTrack Model

Dimension Attribute Description Impact Impact
on CR Rating
Leadership Skilled Management All top-level managers and middle + 6/10
Team management are highly qualified in
both academic and professional
qualifications
Reporting structure Tall hierarchy, therefor long reporting - 7/10
structure may subject to approval
delays and solution delays
Risk Taking/Brave Experiments with new technology has + 6/10
reaped befits by taking the risk of
digital banking to Sri Lanka
visionary Visionary leadership towards + 6/10
providing creative digital solutions for
mundane banking activities
Performance Growth Growth rate of 7% and a record 3.7Bn - 8/10
Profit after tax in FY 2019/2020.But
compared to other financial
institutions its low
Source: Annual Report 19/20
High return for Dividend value of LKR 2.1 per share - 7/10
shareholders and rise of voting share by 14.4%
Source: Annual Report 19/20
Products Innovative Products Introduction of innovative products + 6/10
and Services such as e wallet, e savings pots
Catering to a wide Specific product categories to cater to + 6/10
audience each market segment (SME, Personal
Banking, Corporate Accounts etc.)
Digital Enabling and Constant intent to digitalize the + 7/10
adoption manual function to add convenience
to consumer
Innovation Market Leader in Digital Frimi has the highest volumes in + 7/10
Banking digital banking in Sri Lanka and as
well as the first of its kind service to
Sri Lanka, however competition is
catching up soon leaving minimal
differentiation
Workplace Values Familial belief, pursuing Excellence, + 6/10
Trustworthiness and excellent
customer service are shared values
within the organization
Fair pay and Rewards for Performance rewards culture has - 7/10
performance started taking a toll on employees as
the pressure keeps building up and
may result in damage to corporate
reputation from an employer
perspective
Governance Ethical practices Emphasis on adhering to government + 6/10
regulations and rules.

42
Corporate Digital Communication (2305) 40068636 DEC-20

Citizenship CSR focus Encouraging CSR initiatives within + 6/10

the organization and allocating special
funds annually to fund CSR
campaigns

Also, NTB has recorded in

conducting impromptu relief
campaigns during national
emergencies

1% of profit after tax is pledged to

child education each year
Source: www.nationstrust.com

43
Corporate Digital Communication (2305) 40068636 DEC-20

Annexure 6: Digital Audit

Type Description How NTB Utilizes
Paid Media Includes Paid search, Display • Sponsored Ads/Targeted Ads
ads, Affiliate marketing. Digital • Web Banners of NTB and Frimi
signage Etc. • Brand Ambassadors
Social Media Ads

Earned Media Includes Word of Mouth Social • Re-Sharing of posts by followers

Networks etc. • Brand mentioned by third parties
• Partner organizations

44
Corporate Digital Communication (2305) 40068636 DEC-20

Owned Media Digital properties that are owned • Corporate website

and controlled by the • NTB mobile APP
organization • Frimi APP
• Social media channels /Pages

45
Corporate Digital Communication (2305) 40068636 DEC-20

Website Performance (Performance metrics derived using Similarweb.com)

Overview of the performance

Traffic Overview

46
Corporate Digital Communication (2305) 40068636 DEC-20

Geographical traffic percentages

Traffic Sources

Traffic generated via Social Media

47
Corporate Digital Communication (2305) 40068636 DEC-20

Annexure 7: Vision and Mission

Vision
We help people and businesses by providing Financial services and information to achieve their goals and
aspirations in a sustainable way

Mission
We will work SMART to be the most respected financial service provider.

• SMART
• Speed
• More with less
• Adaptable
• Responsible
• Tech-savvy

48
Corporate Digital Communication (2305) 40068636 DEC-20

Annexure 8: Customer Segmentation

49
Corporate Digital Communication (2305) 40068636 DEC-20

References
1. Bain and Company, 2018. Customer Loyalty in Banking. [Online]
Available at: https://www.bain.com/insights/topics/customer-loyalty-in-banking/
[Accessed 24 10 2020].
2. Beyondphilosophy, 2018. WHAT IS CUSTOMER LOYALTY?. [Online]
Available at: https://beyondphilosophy.com/customer-experience/customer-loyalty/
[Accessed 5 11 2020].
3. BrandMinds, 2020. The Best 10 CSR Campaigns Of The Last Years. [Online]
Available at: https://brandminds.live/the-best-10-csr-campaigns-of-the-last-years/
[Accessed 14 11 2020].
4. Campbell, K., 2018. Corporate Reputation: What, How, and Why. [Online]
Available at: https://www.business2community.com/public-relations/corporate-reputation-what-
how-and-why-02091720
[Accessed 23 10 2020].
5. Caputo & Andrea, 2013. Systemic Stakeholders’ Management for Real Estate Development
Projects. Global Business and Management Research: An International Journal., Volume 5, pp.
66-82.
6. Chambers, S., 2020. The Importance of Customer Loyalty. [Online]
Available at: https://www.nicereply.com/blog/the-importance-of-customer-loyalty/
[Accessed 08 11 2020].
7. DailyFT, 2019. NTB marks two decades of innovation and trust. [Online]
Available at: http://www.ft.lk/Financial-Services/NTB-marks-two-decades-of-innovation-and-
trust/42-680983
[Accessed 06 11 2020].
8. DailyFT, 2020. COVID-19 and labour shifts. [Online]
Available at: http://www.ft.lk/ft_view__editorial/COVID-19-and-labour-shifts/58-707853
[Accessed 23 10 2020].
9. EconomyNext, 2020. Sri Lanka delays tax and debt collections, state to intervene in financial
markets. [Online]
Available at: https://economynext.com/sri-lanka-delays-tax-and-debt-collections-state-to-
intervene-in-financial-markets-61499/
[Accessed 21 10 2020].
10. Fombrun, C. J., 1996. Reputation: Realizing Value from the Corporate Image. Harvard Business
School Press.
11. Forbes, 2007. RepTrack-Company Methodology. [Online]
Available at: https://www.forbes.com/2007/05/21/reputation-institute-survey-lead-citizen-
cx_sm_0521methodology.html?sh=369caa3d48c9
[Accessed 01 11 2020].

50
Corporate Digital Communication (2305) 40068636 DEC-20

12. Fredriksson, R., Rasmussen, W. & Piekkari, R., 2006. The multinational corporation as a
multilingual organization-The notion of a common corporate language. corporate Communications
- An internatiional Journal, 11(4), pp. 206-423.
13. Hall, E. T., 1976. Beyond Culture. s.l.:s.n.
14. Herzberg, F., 1974. Motivation-hygiene profiles: Pinpointing what ails the organization..
Organizational Dynamics, 3(2), pp. 18-29.
15. Hur, M. W., Kim, H. & Woo, J., 2013. How CSR Leads to Corporate Brand Equity: Mediating
Mechanisms of Corporate Brand Credibility and Reputation. Journal of Business Ethics.
16. KPMG, 2020. Sri Lanka Banking Report - Issue 5 (May 2020), Colombo: KPMG.
17. LankaBusiness Online, 2020. Banking and Frinance in Sri Lanka. [Online]
Available at: https://www.lankabusinessonline.com/category/industry/banking-and-finance/
[Accessed 23 10 2020].
18. Leone, R. P., Keller, V. R., Mc Alister, A. M. & SriVastava, R., 2006. Linking brand equity to
Customer Equity. Journal of Service Research, 9(2), pp. 125-138.
19. Marketing Evolution, 2018. What is Brand Equity? How to Build and Measure It. [Online]
Available at: https://www.marketingevolution.com/marketing-essentials/what-is-brand-equity-
marketing-
evolution#:~:text=For%20example%2C%20positive%20brand%20equity,to%20purchase%20fro
m%20that%20brand.
[Accessed 25 10 2020].
20. Mintzberg, 1992. Structure in Five,Designing Effective Organizations. s.l.:Prentice Hall.
21. Mutyala, S., 2017. The Loyalty Ladder: A Sideways Look. [Online]
Available at: https://eightleaves.com/2010/04/the-loyalty-ladder-a-sideways-look
[Accessed 6 11 2020].
22. Nations Trust Bank, 2020. Annual Report 19/20, Colombo: Nations Trsut Bank.
23. NationsTrust, 2020. Nations Trust Bank. [Online]
Available at: https://www.nationstrust.com/personal
[Accessed 23 10 2020].
24. Na, W. B., Marshall, R. & Keller, K. L., 1999. Measuring brand power: validating a model for
optimizing brand equity. Journal of Product and Brand Management, 8(3), pp. 170-184.
25. Olins, W., 1989. Corporate Identity and the BEHAVIORAL DIMENSION. Design Management
Journal (Former Series).
26. PsychologyToday, 2012. Why People Get Bored-A tendency to boredom is somewhat hard-wired.
Fight it.. [Online]
Available at: https://www.psychologytoday.com/intl/blog/open-gently/201212/why-people-get-
bored
[Accessed 30 10 2020].

51
Corporate Digital Communication (2305) 40068636 DEC-20

27. RecoverReputation, 2019. Improve Your Business Reputation With A Strong Web Presence.
[Online]
Available at: http://www.recoverreputation.info/improve-your-business-reputation-with-a-strong-
web-presence/
[Accessed 03 11 2020].
28. Reichheld, F. F., 1996. The Loyalty Effect: The Hidden Force behind Growth, Profits and Lasting.
Boston: Harvard Business School Press.
29. Retail Dive, 2017. Millennials more accepting of chatbots than previously thought: report. [Online]
Available at: https://www.retaildive.com/ex/mobilecommercedaily/millennials-more-accepting-
of-chatbots-than-previously-thought-report
[Accessed 02 11 2020].
30. Scholes, K., Johnson, G. & Whittington, R., 1998. Exploring Corporate Strategy. 8 ed. England:
Prentice Hall.
31. Simon, C. & Sullivan, N., 1993. The measurement and determinants of brand equity: a financial
approach. Marketing Science, Volume 12, pp. 28-52.
32. Srivastava, A., 2015. Brand Asset Valuator Model – BAV Model to measure Brand Equity (Philip
Kotler Summary). [Online]
Available at: https://marketinglessons.in/brand-asset-valuator-model-bav-model-to-measure-
brand-equity/
[Accessed 02 11 2020].
33. Statista, 2020. Statista. [Online]
Available at: https://www.statista.com/statistics/728516/inflation-rate-in-sri-lanka/
[Accessed 06 10 2020].
34. The Corporate Finance Institute, 2018. What is Market Positioning?. [Online]
Available at: https://corporatefinanceinstitute.com/resources/knowledge/strategy/market-
positioning/
[Accessed 25 10 2020].
35. The Island, 2020. Finance Capital after COVID-19. [Online]
Available at: https://island.lk/finance-capital-after-covid-19/
[Accessed 19 10 2020].
36. Tractivity, 2018. Stakeholder management: using digital tools to engage with stakeholders.
[Online]
Available at: https://www.tractivity.co.uk/blog/stakeholder-management-digital-tools/
[Accessed 02 11 2020].
37. Trading Economics, 2020. Sri Lanka GDP. [Online]
Available at: https://tradingeconomics.com/sri-lanka/gdp
[Accessed 06 10 2020].
38. VerdictUK, 2018. 9 ways companies around the world are empowering female employees. [Online]
Available at: https://www.verdict.co.uk/9-ways-companies-around-the-world-women-
empowerment/
[Accessed 14 11 2020].

52
Corporate Digital Communication (2305) 40068636 DEC-20

39. Watkins, M., 2013. What Is Organizational Culture? And Why Should We Care?. [Online]
Available at: https://hbr.org/2013/05/what-is-organizational-culture
[Accessed 28 10 2020].
40. WordStream, 2020. 5 Ridiculously Powerful Facebook Ad Targeting Strategies. [Online]
Available at: https://www.wordstream.com/blog/ws/2015/01/28/facebook-ad-targeting
[Accessed 14 11 2020].
41. Worthington & Bitton, 2003. The Business Environment. s.l.:Prentice Hall.

53