What began as a seemingly harmless tweet from NAB just before Valentine Day has escalated into a war as Westpac, Bank SA and Newcastle Permanent also run ads in newspapers to promote their home loan products.
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Battle of the Banks
The Up with Your Bank campaign began with a teaser on the Friday night before Valentine Day. NAB twitter account appeared to have accidentally broadcasted a personal tweet saying, stressed out. Have to make a tough decision and I know I probably hurt someone feelings! Arrggghhh. following Saturday NAB revealed all with a PR release and a newspaper front page article explaining their move to start paying early exit fees to lure CBA and Westpac mortgage holders.
Newcastle Permanent fought back with a strong piece of communication picking holes in NAB argument to break up with the other banks by stating that it still married to its shareholders. New Adidas High Tops Pink Newcastle Permanent used that point to differentiate their financial products and practices by saying they exist for their customers.
The weekend saw smaller lenders roll out creatively engaging newspaper ads to tempt consumers with their own compelling offer.
Bank SA ran a full page ad in an Adelaide metropolitan newspaper to target the local market. The communication used rational messaging to highlight the Human Race Nmd Retail
Both campaigns received plenty of attention in the general media, social websites and trade blogs.
The campaign was stylistically different from other advertising communication NAB has run in newspapers, effectively achieving disruption and cut through enticing consumers to read the long copy ad.
Westpac fought back by running high impact double page spreads immediately after NAB break up newspaper ads. Westpac campaign provided consumers with a competitive counter offer, promoting their best selling Premier Advantage Package accompanied with a special limited time discount for new customers.
On February 15, NAB advanced the campaign and the relationship analogy with full page letter ads in both national and metropolitan newspapers criticising the other banks for their mortgage exit fees and other unfair practices.
The campaign was sparked by an insight that people tended to re appraise staying in unhappy relationships come Valentine Day. NAB applied this as an analogy of people unsatisfactory relationship with banks.
cost advantage of switching to their bank.
ads targeting both Westpac and Commonwealth Bank customers, perpetuating the break up messaging. The advertisement reverted back to the original template to reinforce the connection between the communication and brand.
The following week, Westpac and NAB escalated their campaign in newspapers. NAB ran Adidas Energy Boost 2 Esm Women's Running Shoes
NAB launched their national Valentine Day campaign in a bid to tempt customers from ANZ, Westpac and Commonwealth Bank into switching financial institutions.
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