BBVA has a wide collection of tools for communication and dialog with its stakeholders. These tools guarantee two things: that stakeholders have the appropriate channels available to be listened to, and that BBVA has adequate sources of information to understand their priorities and expectations and, therefore, meet their needs.
The tools for communication and dialog ensure that stakeholders have appropriate channels to be listened to by the Bank and that BBVA has the sources of information needed to meet their needs
BBVA has five main ways of analyzing and integrating stakeholder expectations:
- First, there is the specific work of each area and/or unit in its day-to-day relationship with each stakeholder group. This includes specific communication tools, such as the employee satisfaction survey, managed by Human Resources or the customer satisfaction/recommendation surveys and the mechanisms for dealing with complaints, coordinated by the Customer Experience teams.
- Second, the work carried out by the Customer Management unit, which involves listening to our customers and integrating their opinions into the processes for developing new solutions for all the segments. This is done by using multidisciplinary methodologies, such as solution co-creation, ethnography and netnography or big data.
- Third, the work conducted by the Brand and Communication area, which has global, consolidated communication tools in place that serve a twofold purpose:
- To enable better management of BBVA’s brand and reputation.
- To gain a deeper knowledge of the social contexts in which the Bank operates so the Group is able to incorporate a vision more focused on people into its business decisions.
The tools used by Brand and Communication include: the annual internal reputation survey (among employees) the on-going external reputation and brand surveys (trackings) for customers and the community in general; the measuring of online reputation and on-going communication and dialog via social networks (customers and the community in general) and the analysis of the expectations and priorities of specific groups, such as sustainability analysts, for example.
This year we have supplemented these tools with specific global research to better understand what a bank that conducts responsible business means to people who use banking services. The goal is to be able to better focus the Bank’s responsible business strategy in order to win back the trust of society.
- Fourth, the Bank has several channels for dialog with social organizations particularly concerned about certain controversial issues for the financial industry, such as financing of the defense industry, large investment projects and housing in Spain.
- Lastly, it should be mentioned that there is the permanent analytical work, the reports and working documents of the BBVA Research unit, which are very important to have a macro and overall view of what is happening in the communities where BBVA operates.
