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January 28, 2008

Not that Determined to be Different

With the new Gooby Commbank ad now out and everyone talking about the ad, I thought I might focus on the new tag line "Determined to be Different".

I would have preferred "Determined to be better" as I don't want my bank to be "different" I just want them to be better.

Check out the website for the campaign. It hardly goes into explaining how "different" the bank will be and has me thinking that nothing much has changed. The section titled "Determined to be Different in action is hardly going to make the CBA stand out.

dtermined_tobe_different.jpg

It seems CBA is just repackaging the same old shit. Which is sad, as for me all the big banks in Australia are essentially the same and they could have really made an effort to be "different". In addition to hiring Gooby they could have also had a cold hard look at themselves and launched a new ad campaign and a new direction for the bank. Instead it's just like Coca-Cola launching with a new summer campaign. Same brown fizzy drink only this time it's all about love.

Pops on Expert Hat
I'm no expert and also have no idea on the financial implications but here's a few ideas that would have made the CBA different from every other bank in Australia.

Open All Branches 7 days a week 8-7pm.
It's a crazy notion but people who work full time jobs don't have time to go to the bank. So why do banks require you to take a long lunch break just to sort out your banking? The CBA is opening up their "busiest" branches on weekends but they are still limited hours and open from 9.30-1pm.

Reward Customer Loyalty
Banks seem to focus on attracting new customers and forget the ones they have. I've been with my bank 12 years and receive nothing more than a customer who signed up last week. Why not offer incentives and rewards for customers who stay with your bank every year. It could be as simple as extra free transactions or increase in repayment times.

No ATM fees
Crazy as it sounds I doubt the ATM fees the banks charge really go to help their $3B profits.

Go Green
While other banks have made gestures towards going green or carbon neutral by a certain date why not get on top and be the most green bank in Australia?

They can start by reviewing their paper policy which in my experience with a home loan with them is outrageous.

Below is all the junk I received when I got my home loan, including multiple copies of the same brochures 3 times.

Commbank Homeloan Docs Junk

Lastly here's one idea I saw in the USA, a hot pot a coffee in the branch! You wait in line 15 minutes why not get a free coffee while you wait.

I hope that the CBA has more in store for us with their campaign and it starts a real competition between the banks in Australia to really lift their game instead of just lifting their profits.




 

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