Wednesday, June 4, 2008

Social media shouldn't only be about bank bashing

What do beer ads, rejuvenating face cream and bank managers all have in common?

They’re all the subject of some entertaining spoof ads, created by users of the ABC’s website for new TV program the Gruen Transfer.

It’s another case of social media related to banking that is more about bank bashing than anything else.

Some of the titles of the many videos put together by consumers on the site include:
“We don’t care about anyone”, “Bad bank” and “Bullsh*t is our business.”

The site is getting some strong traffic with viewings of the spoof ads also high for user-generated content.

One contribution titled “A bank that tells it like it is” reflects the overall theme of the videos with lines including “At Gruen bank our queues are short because most of our customers have given up trying.”
“Take out one of our low interest high risk loans today. You’ll be paying it off until you die. And then it will be your children’s problem.”
“Gruen Bank – Bleeding you dry for 25 years.”

The site is an interesting research vehicle for bank marketers.

Instead of believing that consumers care about the latest product feature or promotional offer perhaps financial services marketers should be working out better ways to connect with customers, to generate a laugh, or alter perceptions that the bank only cares about the bank/shareholders and not its customers.

Good examples of institutions doing this include Raboplus, Community First Credit Union, and Savings & Loans.

Isn’t it time a major bank started using social media to connect with customers?

2 comments:

Transcend said...

Great post, social media can be a huge payoff for a business if its done right, will save and share post website seo company

Anonymous said...

you are totally right, in this moment if you look carefully, the marketing is going in the wrong way, all the time that you see a commercial about Generic Viagra or something like that, you can observe the work of many people, trying to make a better work.