Paper Submission: Outlining the PR Mix and Methods for Enhancing Corporate Image and Product Awareness

To: The Managing Director
From: Head of Marketing and Corporate Affairs
Date: July 29, 2025
Subject: Public Relations (PR) Mix Elements and Techniques in the Context of Rising Advertising Costs

Dear Managing Director,

As requested, this paper outlines four key elements of the Public Relations (PR) mix and five practical methods or techniques that our bank can employ to enhance its corporate image and increase awareness of our products and services. With over 20 years in the Ghanaian banking sector, including senior roles at institutions like Ecobank Ghana and Stanbic Bank Ghana, I draw on practical experiences and regulatory insights to emphasize how PR integrates into modern banking for compliance, profitability, and ethical practices. This is particularly relevant post the 2022-2024 Domestic Debt Exchange Programmed (DDEP) and the 2017-2019 banking cleanup, where transparent communication rebuilt trust under the Bank of Ghana’s (BoG) Corporate Governance Directive 2018 and sustainable banking principles.

PR serves as a cost-effective alternative to advertising, fostering long-term relationships and credibility. In Ghana’s competitive landscape, where banks like GCB Bank have leveraged PR for community engagement amid digital shifts, our strategies must align with the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930) for transparency and the Payment Systems and Services Act, 2019 (Act 987) for fintech-related communications. Below, I detail the PR mix elements (10 marks) and techniques (10 marks), grounded in real-world applications.

Four Elements of the PR Mix

The PR mix comprises integrated components that banks use to manage public perceptions and stakeholder relationships. These elements are non-sequential and adaptable, as highlighted in frameworks for PR in Ghana’s financial services sector. Drawing from our operations, the four key elements are:

1. Media Relations 
   This involves building and maintaining positive relationships with journalists, broadcasters, and online media to secure favorable coverage. In practice, during the post-DDEP recovery in 2024-2025, banks like Access Bank Ghana used media relations to communicate recapitalization efforts under BoG Notice No. BG/GOV/SEC/2023/05, explaining how it strengthened liquidity per Basel II/III guidelines. For our bank, this element enhances corporate image by positioning us as a resilient institution, while raising product awareness through features on digital loans or savings accounts.
2. Community Relations and Corporate Social Responsibility (CSR) 
   Focused on engaging local communities through initiatives like financial literacy programs or philanthropy, this element builds goodwill. Ecobank Ghana’s sponsorship of education projects post-2019 cleanup exemplifies this, aligning with BoG’s sustainable banking principles to promote inclusion. By investing in community health or SME support, our bank can improve its image as a socially responsible entity, indirectly boosting awareness of retail products like microfinance services.
3. Investor and Stakeholder Relations 
   This entails transparent communication with shareholders, regulators, and partners to foster trust and secure funding. In Ghana, where economic volatility post-DDEP demands clear reporting, Stanbic Bank Ghana’s annual investor briefings comply with the Corporate Governance Directive 2018, detailing risk management and growth strategies. For us, this element safeguards our image during crises and highlights products like investment funds to attract capital.
4. Crisis Management and Public Affairs
   Involves proactive handling of reputational risks and lobbying for favorable policies. Historical events like the collapses of UT Bank due to governance issues underscore its importance; today, with cyber risks under BoG’s Cyber and Information Security Directive 2020, predictive analytics and real-time monitoring are key trends for 2025. Our bank can use this to mitigate issues like data breaches, maintaining image while educating on secure electronic banking products.

Five PR Methods or Techniques for Enhancing Corporate Image and Product Awareness

To implement the PR mix effectively, we select techniques that leverage communication for partnerships and customer loyalty, an untapped asset for economic development in Ghana. These must be feasible for BoG approval, emphasizing public financial education and customer alerts, as urged by BoG in 2025 dialogues. Five techniques, with day-to-day examples, are:

1. Press Releases and Conferences 
   Issuing official statements or hosting press events to announce updates or products. Barclays’ global comparisons show how GCB Bank’s press conferences on liquidity guidelines post-2025 MPC meetings communicate policy success and public trust. In application, release statements on new product launches like our mobile app, compliant with Act 987 for fintech, to gain media coverage and build awareness through BoG-approved channels.
2. Sponsorships and Partnerships 
   Aligning with community events or influencer collaborations for 2025 to open doors for partnerships and loyalty. For instance, sponsor events like the Ghana Association of Banks (GAB) 2025 Industry Outlook discussions to position our bank’s image as innovative, raising awareness of deposit products through branded seminars on financial recovery.
3. Corporate Social Responsibility (CSR) Activities and Community Involvement 
   Techniques include organizing workshops or charity drives, like public financial education on customer alerts for security features. Ecobank Ghana’s real-world CSR in rural financial inclusion programs, compliant with BoG’s inclusive directives, can enhance our image via community health fairs that showcase SME lending products for daily feasibility.
4. Press Releases 
   Releasing timely statements to media on bank activities or trends, such as our 2025 outlook on post-DDEP strategies, to secure coverage on platforms like The Business & Financial Times. This complies with BoG’s communication regime for regular dialogue. Practically, as seen in Stanbic Bank’s press on deposit growth strategies, we can highlight products like savings accounts to drive awareness ethically.
5. Social media and Digital PR 
   Utilizing platforms like X or Facebook for real-time engagement and influencer partnerships to mitigate crises and promote products. In Ghana, where digital banking risks are trends for 2025, GCB Bank’s social campaigns on cyber education align with BoG’s directive for public alerts on product security. Our bank can post on digital wallets or loans, boosting image through interactive polls on sustainable principles.
6. Events and Sponsorships (2 marks)
   Hosting or sponsoring events like seminars or sports to engage publics directly. For example, sponsoring the GAB 2025 Industry Outlook could raise awareness of core deposits via targeted sessions, similar to global banks’ deposit marketing strategies that include PR for growth in 2025. This ties to BoG’s emphasis on financial education for customer loyalty.

In conclusion, by adopting these four PR mix elements and five techniques, our bank can derive feasible, BoG-approvable strategies for resilience and compliance, positioning us profitably in Ghana’s 2025 banking laws emphasizing governance and communication. This will yield a resilient image and higher product uptake, such as through CSR-linked promotions for deposits or loans, compliant with Act 930 for ethical disclosure. I recommend allocating resources for a dedicated PR team to implement this, aiming for BoG approval in our communications regime.

Should you require further discussion or implementation budgets, I am available.

Yours sincerely,
Head of Marketing and Corporate Affairs