Have you seen Nat West’s latest ads?
In these days of austerity when the credit crunch, caused by the reckless behaviour and greed of City bankers, it is refreshing to see a financial institution going to great lengths to win back public trust and confidence.
Nat West has set itself a strategic aim of being Britain’s most helpful bank.
It’s recent TV commercials have clearly tried to position the bank as being helpful – Saturday opening and mobile banking (both via phone and its branches on wheels) being good examples. The bank appears to be confident in its ability to live up to the promises it makes, so much so that it shouts them out.
A noble quest, bound to fail?
By placing its customer pledges at the heart of its marketing communications strategy Nat West stands to prosper, if it gets things right, from being seen as the consumer’s champion, making strides to improve banking services for everyone.
However, the risks couldn’t be higher. Before rolling out such an ambitious campaign, I imagine (and hope) that Nat West will have invested considerable time and energy in changing the inner culture of the organisation, renewing its focus to a more customer-centric position. Essentially, putting the customer back at the heart of everything it does with a genuine attempt to be more helpful.
I really like the campaign. I think it is bold, ambitious and timely to restore public trust and confidence in the banking sector.
I wish Nat West every success.