nab.com.au/breakup Join The NAB Breakup Discussion On The Blog
nab.com.au/breakup Voice Your Opinion of the NAB Bank Breakup
The recent break up of http://www.nab.com.au from the other 3 major banks has definitely got people talking. It started with a huge marketing campaign that saw helicopters carrying mock break up banners, a twitter announcement, an article in the Daily Times and various stunts throughout Australia.
NAB has been somewhat ruthless with their approach. However, this new marketing strategy has been very clever. More people are likely to trust the company now than they did before. Advertisements showing why NAB is better than Westpac and CAB, are gaining consumer attention. In the Age of the Australian on page 4, an advertisement for the company states that NAB consumers have saved $115 million by having a better rate than CommBank.
It is now thought that the advertising campaign is set to have started a full blown war between the banks. However for the consumers this is only a good thing as they are set to save on millions of dollars worth of fees.
Outside the ANZ headquarters, a man on a piano sang mock break up songs. However, ANZ are claiming that they were never truly “going out” with NAB and the company is now starting to behave a little like a stalker.
At the moment NAB has the lowest home loan rate out of the top four banks. It’s rate currently falls at 7.67% whereas ANZ who are next down on the list offer a rate of 7.80%. Westpac can be found at the bottom of the table offering 7.86%.
Many experts are pleased to see that this new campaign has made the borrowers the ones who make a profit. In a slight twist it is the banks that are the victims, not the borrowers.
The company placed advertisements in national newspapers which explained why the bank was splitting up from the others.
They were set out like a break up letter and they included the line “it’s not you; it’s me I’ve changed”. NAB has increased their rate discounts and have scrapped the home loan fee. The campaign certainly shows how far the company will go to steal customers.
Some Consumers Not Happy with Recent Stunts
While the stunts that were made were designed to poke fun at the break away from the other 3 major banks in Australia, there are some consumers who are not happy. The blog found at http://www.nab.com.au has been fairly active over the past few weeks.
One customer complains that instead of spending all of their money on publicity stunts, more should be put towards customer service. Of course, you can never please everybody. There are always going to be some consumers who are not happy with your services. The blog has found much more support than ridicule. Most people find the advertisements entertaining. They like the fact that a bank can make fun of itself and its rivals.
On the other hand some people are arguing whether this new campaign is truly professional. NAB are still a huge bank and they are all in it to make money. The stunts and advertisements have caused some people to question whether the bank is trustworthy and professional enough. There is also some speculation as to whether the bank was actually in a relationship with any of the other power 3.
One thing is for certain – this new campaign and separation from the power 3 banks has definitely caught consumer attention. Whether it was for real or whether it was a hoax, there is no doubt that NAB will receive a lot of new customers from the campaign. With the lowest rates currently available, it has yet to be beaten for affordability and service.
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