Commonwealth Bank's customer satisfaction levels have surged from the bottom of the Big Four to second behind National Australia Bank (NAB), in a direct correlation with the bank's multimillion dollar 'Can' campaign.
According to financial comparison site Mozo.com.au, the bank's customer approval began to surge in June, immediately after the launch of the branding campaign in late May.
According to Mozo, the bank's overall rating jumped from 6.78 in 2011 – the lowest of the Big Four – to 7.18 in 2012, the second highest behind NAB.
All four banks saw their overall ratings increase from 2011 to 2012, but none as much as Commonwealth Bank.
Mozo managing director Rohan Gamble said: “The Commonwealth Bank has gone from villain to hero in just twelve months. Our data shows a clear link between the Commonwealth Bank's 'Can' campaign and its return to popularity and customer trust.
"Importantly, the Commonwealth Bank has also put its money where its mouth is and been the most generous of all the big banks in passing through recent RBA rate cuts. Customers have rewarded the bank by giving it the highest home loans satisfaction rating of any of the Big Four.”
The 'Can' campaign was launched earlier in the year to a great deal of industry hype, after CommBank dropped its 'Determined To Be Different' positioning.
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