Improving a financial software company’s recognition and corporate image to achieve growth by acquisition
Home Account

Goal:
To improve Home Account's recognition and corporate image as an Internet banking provider, allowing Home Account to grow by capital infusion or acquisition.

Approach:
As a provider of Internet banking software, Home Account (HA) found itself in a marketplace that was quickly becoming saturated. Stephenson Group (SG) determined that a critical element in making HA a preferred provider in a crowded marketplace was to position the company as a partner to the financial services organizations it was courting. Since the benefits of HA's software solutions were understood and acknowledged by the technologists within the organizations they were selling to, SG's PR strategy included reaching out to the business executives in functional areas such as sales, marketing, and finance. The goal was to position HA not only as a software vendor, but as a software vendor providing real bottom line benefits to financial institutions in the form of increased revenues and lowered costs.

SG identified the most appropriate new target audiences, defined key messages to serve those audiences, and determined the best channels though which to reach and influence them. For example, prior to retaining SG, mentions of HA appeared almost solely in technology publications. While continued coverage in technology publications remained important, SG instituted a media outreach program to include publications such as American Banker that are read by C-level executives. SG also worked to educate the analyst community about the benefits of HA, understanding that the media often interview analysts for their insights into best technology and business practices for financial organizations.

To support SG's PR strategy, SG tactics included issuing a series of news releases announcing customer implementations and stressing benefits realized by these customers, placement of case studies and bylined articles, and an aggressive speakers bureau program.

Results:
HA was recognized as a strong contender in the Internet banking arena and was acquired by Intellidata for more than $36 million. As part of Intellidata, HA received the influx of capital they needed to fuel their continued growth.

In the one year prior to the acquisition, SG secured coverage of HA in 135 stories, including prominent placement in target publications such as American Banker, Bank Systems + Technology, Bank Director, and Financial Service Online.

Due to SG's efforts, HA executives were invited to speak at key events hosted by America's Community Bankers, Robertson Stephens, Miller Freeman, Bank Administration Institute, Strategic Research Institute, American Bankers Association, and National Association of Federal Credit Unions.