If someone fucked you, why would you trust them again after 30 seconds?

Satirist Dan Ilic has a thing or two to say about the Australian Banking Association's 'Australian banks belong to you' campaign, which launched back in November.

With record profits that look greedy and facing down the barrel of a Royal Commission that fielded so many complaints of misconduct, they missed a reporting deadline.

There’s no doubt about it – Australians have a feeling they are being screwed by the banks.

In terms of a BS detector, there’s none better than the Australian general public.

So knowing this, back in November, the Australian Banking Association tried to placate the BS sniffing Australian general public in the most old-school way possible. A television commercial.

Hooray. Lol.

The message is “Hey we’re banks, and we’re owned by shareholders, and shareholders are Australians. SO LAY OFF US OKAY? WE’RE ONLY SCREWING THE PEOPLE WHO CAN’T PAY US BACK—CAPICE?”

It’s a nice message on a quaint medium, television, which I’m sure is still watched by the baby boomers and older, who, if they have done well in their lives, could very well hold shares in your bank – that is before a Royal Commission.

For young people who may not own shares, the message will never reach them.

Yet the banks will spend all of this money on television campaigns (production and media buy) that only an older generation will ever see when they could channel some of that money into platforms and other media that actually provide value for audiences.

It’s like the idea of soft power, a term used in international relations where countries exert influence and persuasion of other countries using their cultural assets like the US does with movies and or Germany does with Eurovision.

I find it baffling, that the banks with their record billion-dollar profits don’t invest in creating meaningful and useful culture for their own customers.

One of the simple things that a bank could do is build trust by creating podcasts.

The special thing about audio as a medium is that an enormous trust develops between the listener and the broadcaster.

If trust is your problem, then developing a special relationship with your audience, an intimate relationship, seems to be a much better way of communicating with them rather than spamming their televisions with 30-second ads proclaiming how just like me you are.

I also had a $6.1 billion EBITDA result this quarter!

It’s not a quick fix like a television campaign — it’s a long relationship you have to build from scratch. But done right, a podcast that is informative, instructional and provides a backchannel for customers to discuss their problems too would be an incredible product that is not only a potent marketing tool for the financial institution who does it first, and does it right in this country but also fill a huge gap in the Australian podcast market out there.

Dan Ilic is an Australian presenter, comedian and filmmaker. This post originally appeared on LinkedIn. 


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