The Brexit offers the financial center Frankfurt an enormous opportunity. The key to success is a communication strategy that enabled proactive action from the start. This is how Frankfurt continues to distinguish itself as an international financial center of the first order.entrum ersten Ranges.
The UK exit plan from the EU shocked the world. And it has brought with it drastic political and economic consequences. Not only the British economy was hit hard. There are negative effects on the economy and political stability in the whole of Europe.
On the other hand, this European tragedy has brought Frankfurt into focus after the Brexit referendum. For Frankfurt as one of the most important financial centers in Europe, just after London, this was on the one hand a communicative challenge and on the other a historical opportunity. This was and still applies.
As a financial communications consulting firm, NewMark prepared a timely set of communication strategies for various Brexit scenarios. This has made it possible for Frankfurt to become the first financial center in the world to bring media into the game – right on the morning after Brexit. Immediately after the official announcement of the result of the Brexit vote on June 24, 2016, the Frankfurt-City-Initiative (FMF) published an online statement on the possible consequences of the vote for the Frankfurt financial center. At the same time, an information hotline and website were activated. This early communication as a result of thorough preparation gave Frankfurt a great and lasting advantage over other European financial centers.
In order to provide the right message to the right people in the right form, NewMark anticipated the following three key questions:
- How is Frankfurt different from other financial centers?
- What message should be conveyed to Frankfurt?
- Who are the addressees?
Starting from these questions, since the result of the vote we have been communicating successfully and with publicity with strong and convincing arguments. “Germany offers the best conditions for international business”, “Rhein-Main is a great talent pool” and “Frankfurt is Europe’s first choice for a relocation as a regulatory center” – such messages are concise, catchy and hearken, with financial institutions in London the main target group, where the key messages are conveyed through various communication channels.
The media response since March 2016, when the Brexit arose in the media, is something to be proud of: Since then Frankfurt Main Finance has been mentioned in more than 2,323 different media in 96 countries. Thus, the site initiative reached about 10 billion potential recipients. At the same time, FMF gave around 850 interviews and representatives of the initiative took part in relevant events to represent the position of the financial center – not only in London, Berlin and Brussels, but also in the US, Japan, Korea and the Middle East.
The enormous media response is just one side of this successful communication strategy. In addition, almost 50 financial institutions have decided to establish or expand Frankfurt as a European location. Thus, Frankfurt consolidates its position as the international financial center of the first order.