NAB taps social media to 'break up' with rivals

NAB taps social media to 'break up' with rivals

National Australian Bank (NAB) has tapped Twitter, Facebook and Youtube to launch an extraordinary attack on its rivals, "breaking up" with them over home-loan interest rates.

Last week, in the run up to Valentine's Day, the bank posted a mysterious tweet - spotted by blogger and former staffer Monty Hamilton - declaring: "Sooooo stressed out. Have to make a tough decision and I know I'll probably hurt someone's feelings! Arrggghhh."

The message was the opening salvo in a huge marketing push designed to attract ANZ, CBA and WestPac mortgage customers, offering to pay some of the exit fees its rivals charge.

NAB is declaring on the front page of its Web site "sorry CommBank, ANZ, WestPac, but it's over between us" and linking to a dedicated micro-site called "the break up".

This contains a Youtube video showing the bank writing a letter dumping its rivals and explaining why.

Other videos show various marketing stunts such as the flying of a 100ft banner from helicopters telling competitors "you're dumped":

And CommBank executives interrupted at lunch by singing waiters:

Comments: (1)

A Finextra member
A Finextra member 17 February, 2011, 02:56Be the first to give this comment the thumbs up 0 likes

One has to admit this is done in good taste. Certainly the singing cake I suppose takes the cake.

It has the same sentiment back in the days when the banks used to raid auctions with their logo umbrellas raised.

There will of course be retaliation I hope from ANZ and CBA ...