Social shows its clout
Submitted by Standard Bank Team on Fri, 2012/02/24 - 13:02At Standard Bank we are encouraged, but not surprised, to see how passionately the social media community has responded to our impending complaint to the ASA (Advertising Standard Authority).
The announcement was made in social media because we value our online communities and felt that they should hear it first hand from us. We respect our community’s views and value the transparent relationship we share with them.
Competition is healthy and we admire any well-executed marketing strategy. However, some of the facts in FNB’s print advert that appeared in the Sunday Times are simply incorrect.
False claims of any sort by a competitive organisation are not fair to the public and it flies in the face of free, fair and accurate advertising. We are proud of the services we offer South Africans and stand behind our integrity.
As always, we listen and take note of our community’s comments and concerns. Delivering excellent service remains a key focus and we continue to use your feedback to build on it.
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Makes sense..
Hi there,
I've been privy to the whole thing, and as much as I get where Standard Bank is coming from, with valid reason, I do think the whole situation was handled a bit carelessly..
In terms of PR, FNB came out tops.
I am and will remain an Standard Banker.. I trust the bank, but now, we need a campaign that shuns the competition.
So please regard this as my formal application to be a part of your Public Relations team.
Zama
Valid Point
Valid Point, but your social media team are absolutely to blame. Don't start a fight on Twitter, the first failing was to keep tweeting over and over, FNB stayed quiet, other tweeps saw and bashed you on the bad service issues. Horribly played and in better terms "goed soe".
If you value competition, compete
I've been a Standard Bank customer for many years, and there are many things I like about the bank. But the way this matter been handled leaves me with a sour taste. It's churlish to run to the ASA to resolve a dispute, when you could simply have seized the opportunity to beat FNB at their own game. As a customer, I couldn't care less about which bank was first at launching which product. That's for you and your attorneys and your agencies to squabble over. If a rival bank is offering worthwhile perks and rewards, such as free online banking, to all their customers, why don't you offer better, more valuable perks and rewards? That's what healthy competition is really all about.
Standard Bank and FNB
I was a Standard Bank client for over 35 years, including 2 Bonds, a Gold Card, SBIB and STANNIC/Asset and Vehicle Finance but eventually changed my account to FNB because of all the problems and total lack of interest to my complaints by Standard Bank. On closing all of my accounts I notified each and every division why I was closing the account and paying up all my loans, I still had a sizeable credit balance buy to this day I have not received any communication from the bank asking for the reasons. Since then I have actively advised friends and family of my Standard Bank experience and slowly but surely they have moved their business to other banks but mainly to FNB. It is still early days but the difference between the service and bank charges I got from Standard and those I now get from FNB are beyond compare. I would gladly discuss my experiences with a bank executive if they were at all interested.
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