CorpComms Magazine

An innovative viral campaign launched just three months ago by National Australia Bank, one of Australia's largest financial institutions, has sparked a 50 per cent rise in credit card applications, a 20 per cent increase in mortgage applications and a 35 per cent increase in customers looking to switch from other retail banks.

The two day multi-media platform 'break up' campaign, which launched on Valentine's Day, focused on a 'Dear John' letter to National Australia Bank's three competitors - Commercial Bank of Australia, ANZ and Westpac.

National Australia Bank took full page advertisements declaring 'It's over between us' as it attempted to differentiate itself from its competitors.

The letter said: 'I've decided I need to break up with you. I think you all know this has been coming...deep down, though, I really feel we've just grown apart'. Billboards declared 'It's not you, it's me...I've moved on' and 'We've broken up with the other banks, be gentle with them.'

National Australia Bank also used Twitter, Facebook and YouTube, filming more than 60 'break up' scenes at well known landmarks, in restaurants and on trains. Staff also stood outside branches of its competitors handing out tissues to passers by.

In the run up to Valentine's Day, the bank had started tweeting about a 'break up' with mysterious tweets such as 'Sooooo stressed out. Have to make a tough decision and I know I'll probably hurt someone's feelings. Arrggghhh.'  Customers were directed to breakup.nab.com.au to interact with the campaign.

Chris Smith, general manager of digital personal banking, told attendees at the CeBIT business technology conference that the initial break up campaign attracted young customers. 'The overall big takeaway was a one per cent increase in our share of the mortgage business,' he said.

The bank also gained 225,000 new customers in the three months, against just 90,000 in the same period last year.

Smith added: 'If you look at social media metrics, we boosted our Twitter and Facebook follower and fans - that was a big gain. The other one was awareness of our message, that we're cutting all the fees, helping people switch banks and having the lowest standard variable rate of the big four.'

Between ten and 20 staff within the corporate affairs team are currently involved with social media and associated strategies. 'Our first piece of advice is to listen and understand how the social media environment works. There are great examples of how some companies have got it wrong, and still get it wrong. Right now we're at the stage of getting that social media policy rolled out. We're a big company, and this is a big journey.'

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