Banks are starting to roll out their ads after taking a public beating during the Royal Commission into banking.
Last week the banks were spread across the nation’s front pages for their ‘bad behaviour’ after the inquiry released its full report last week.
The last two Standard Media Index figures, which measure media spend with agencies, showed dulled media spending from the banking sector, with a 23.4% drop in spend from domestic banks in the February figures.
Now the banks are returning to the public eye with the first ad appearing to be from one of the big four, CommBank.
The brand ran a full-page spread in a campaign that ran on Sunday and Monday.
The ad had a simple design, with the CommBank logo printed without its name.
CommBank also tweeted the ad to its 87,000 followers.
CommBank's 'better for you' ads
While it doesn’t directly address the negative stories that were revealed over the months during the inquiry, it had subtle ‘better for you’ and ‘banking you deserve’ messages included.
CommBank CEO Matt Comyn says it’s ‘accelerating’ it work to be a better bank.
“While we’re making good progress, there is still more work to do,” Comyn says.
“We are determined to restore respect and trust amongst our customers and communities.
“Our customers can expect us to continue listening, making changes and providing the best possible experiences, no matter how they bank with us.”
Bank Australia rolled out its ‘Clean Money’ campaign this week. The work, created by behaviour change agency The Shannon Company, introduces the bank’s Responsible Lending Policy, which it claims is the first bank in Australia to have its deposit and home lending products certified ‘responsible’ by the Responsible Investment Association of Australasia.
Head of corporate affairs and marketing Fiona Nixon said the bank’s money is ‘clean’ because it doesn’t lend to industries that cause harm, such as coal, gambling and live animal export.
“As a customer-owned bank, we believe it’s important to use our customers’ money in responsible ways; investing in projects like community renewable energy, disability housing and safe and sustainable housing for people at risk of homelessness and domestic violence,” Nixon said.
The integrated campaign was planned and implemented by newly appointed media and connections agency Alchemy One.
Alchemy One MD Joel Trethowan said the message has the power to change the world.
“Across a powerful strategy and partnership selection process, we’ve teamed up with brave media partners to educate Australians about why where they bank matters,” Trethowan said.
“Joining the clean money movement and switching to a bank that will invest your money in good has an immediate, positive effect and is one of the simplest yet most important decisions we can make.”
The campaign is running across out of home, print, digital and broadcast.
Bank Australia
Bankwest was spotted with a front-page banner on The Sydney Morning Herald.
The bank received less attention during the inquiry compared to the big banks, and the ad makes no mention of the issue.
The campaign is running on the front page of The West Australian and The Sydney Morning Herald once every two weeks. The brand is also rolling out digital work over the fortnight, with a Home Page Takeover.
The work was created by WPP’s bespoke Union agency, with the creative developed out of The Brand Agency in Perth and overseen by VMLY&R CCO Paul Nagy in Sydney.
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Bankwest's ad in The Sydnney Morning Herald
Greater Bank has also launched its first integrated content partnerships with Pedestrian.TV, introducing its new positioning ‘simple banking in an honest way’.
The campaign ‘Great to Greater’ was created with The Story Lab and Vizeum and aims to lift brand perception and increase its awareness among students.
Greater Bank
As part of the partnership with Pedestrian.TV, three people have the chance to win $5,000 grants and mentorships with the co-founder of Unique Muscle Charlie Ercan.
Have you spotted any banking ads? Email me at mariam@yaffa.com.au
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