What’s in an Ad?

Not bad, doesn't say why you are safe.
Better than most bank ads.

1st impression "What a W***"

Better than American hype.

Enjoyed the ad and more importantly enjoyed seeing the increase to 7.8%, though I would have preferred not reading the until 31 July 2008.

Hello Bryan,

I think the ad is too esoteric. Apart from the fact I have been involved in marketing for years I have looked at it from the point of view as a customer, which I am.

Why have I invested with Rabo after my research? Number one -your Credit Rating and reasonably conservative approach to the assets you seek. Number Two- Inteest Rate.

I would think in todays climate people want simple facts - why not tell them in plain terms without the gloss. e.g. Only a handful of banks in the world have a AAA rating-Rabo does.

Do you think "affluents anonymous" will make Bank clients warm and happy or a little irritated? will your customers be able to identify with the incident ?

David

Your NZ ones still rock the most. Particularly now we're seeing the local banks caught with their pants down with regard subprime and underworld.

Love the new ad - still laughing. Esp the woman falling over with the weight of the gold she was wearing! Bloody ripper.

Neither love it nor hate it. Found it quirky on first viewing but suspect it will tire very quickly and eventually aggravate. Definitely not one of those ads you're happy to see again and again.

Hello Bryan,

I thought the ad was good, and whilst everybody may not like it, it probably appeals to your target market, and gets your message across very effectively. I have been very impressed to date with your products and services and hope you can keep up the good work.

YUK, too yanky for me what happened to Australian language for Australians. The yanks are not rowing their tub too well these days why would we want to hear from them. Pretentious rot.

Nice vision. No sound. Probably best that way.

tacky, embarrassing,"greed is (NOT) good" in the current environment (if ever). This is not why I invest with Rabo, indeed it puts me off.

I think the concept of the ad is good. It's different and humourous.

A key component to making an advertisement campaign like this work would be to pay the highest at-call interest rate (either promotional or non-promotional). As Rabo already does this, this is OK.

The only thing different I would have done is tie in Rabo's high at-call rate more into the advert. For example, having one of the characters crying about why they're so rich because they've been using Rabo's at-call account which offers X % interest. At the moment the Rabo at-call rate is a footnote at the end of the advert and is in some ways cluttered out by the the comment about "managed funds" at the top.

With banks fighting fiercely to attract as much deposit money as possible, I'd put the at-call interest rate front-and-centre of the ad. I might even consider eliminating the quip about managed funds - yes I understand you wish to advertise this part of your business but we're in the middle of a stockmarket downturn so most people are thinking about safe places to put their money - such as an at-call account with a very high interest rate owned by the only (or one of the few?) banks in Australia with a AAA rating from S&P. You need to throw that AAA rating in as well so people feel safe putting their money at-call at Rabo. Particularly because there was media-attention previously on high-interest rates offered by mortgage holding companies that people entered into thinking that were secured against assets but in fact were mezzanine finance, so the people got burned. You wouldn't want anyone thinking Rabo was a high-interest rate, high-risk, dodgy mezzanine mortgage bond company. So play up the AAA rating.

That's about all I can think of.

I really like the ad, it is funny, and advertising a great rate!!! Thanks for the advance screening of the ad!

The ad kept breaking-up on my computer and i gave my t.v.to Vinnies years ago{i hated the adds}.My advice is KIS!Keep it simple.

I think you missed the point about the advertising industries criticism of Commbank's new campaign...its called positioning.

"Determined to be different" is an empty tagline that has no association with the bank.

Inregards to B&T's commissioned survey, it has a minor problem...in marketing research terms its called bias. Asking “which of the banks do you think has the best advertising" tips the person towards Commbank's old tagline "Which Bank."

Anyway, success of any branding campaign cannot be fully judged overnight, but if its not broken...don't fix it. Only time will tell!

Very impressed that you have asked for customer comments and are willing to have both the good and the bad available for all to read online - your customers and competitors. Very gutsy - I like it! The ads are OK. I wonder if you did pre-release consumer testing of the concept.....

"Affluents Anonymous" has a unique sense to it, an original idea. I found the advertisement to be quite humourous. As a customer, I felt Raboplus was delivering the message of its high interest savings but not its famous security rating. I mean we do live in a consumer world where good security in financing is a major "must-have", but other than that *thumbs up* from me.

The ad is inane, quite demeaning. Instead,

emphasise your strengths.

Are the following statements true?

AAA - not just Australia, but worldwide ?
High interest for depositors.
What you are doing worldwide for farmers and food production ?
Low costs ?
No dividends ?
No obscene salaries or bonusses ?

Tell the truth as it is but don't exaggerate.



Low costs?
No dividends ?
Not manipulated by the share market ?
Modest exective slaries

LOL is better to have too much wealth than no wealth, regardless of what others think

Interesting.
I have a long memory of financial colapse.
It seemes to me that OST, Estate Mortgauge and Pyramid Building Society all launched agressive advertising just before they collapsed.

The more advertising I see the more nervous I get.

Good products sell themselves, bad ones have to be advertised.

The more you advertise, especially this gaudy stuff,
the less I trust you.

another round of this nonsence and I will be looking for a more conservative bank.

The USA is in trouble because of this kind of agressive borrowing and lending.

I went to Rabobank for its AAA rating and conservative strength.

You show in the ad people that seems like to spend a lot from the way they dress up. But I think people who have money to put into your deposit in the first place are people who are smart and save money. So it contradicts.

still laughing

saw it last night - I think its great !!!!

Fortunately, I've been introduced to RaboPlus during 1 day ad with some benefit. After all I made some more small contributions and now the Term Deposit. Because I'm not deeply familiar with all attributions of financial market, I'm avoiding to invest higher amount of money to on-call acc. or Managed Funds, when is so volatile world financial market and I can lose my very small savings. I (maybe others too) would appreciate founded explanation in a simple, but understandable way, how is RaboPlus strategy saved against fast deep downs of market. What is in a risk and its level?

Thank you Jaroslav

I think it is about time you put up an ad, when I told my friends about raboplus, they had never heard of it and I think they thought it wasn't a well established organisation. Now I can point to the ad. About the ad, thinking of the alternatives, such as a simple large 7.8% text with cloudy background, I mean it is all about the branding, the ad was great but I can't remember the brand, it could have been any bank.

I personally feel that the selling points of RaboPlus are its AAA rating and its high interest rates. Those facts should sell itself pretty well without any ad campaigns.

In fact, this particular TV ad is very chessy and contains very little substance. Having this ad campaign gives me an impression that RaboPlus is joining the rest of the (lesser) financial institutions in the competition for depository funds. I thought the RaboPlus was in trouble when I first saw the ad. I hope my suspicions are wrong.

If RaboPlus can continue to maintain its level of security against fraud AND financial turbulence, while offering handsome return, it should be able to attract the big investors who actually read the fine prints and do extensive research before investing.

I am getting a bit nervous with your ad. I hope your ad does not attract people with wrong ideas in their head about savings.

There are some crazy comments here. Wondering where peoples heads are at now.

I think the new campaign is kind of fun and it has some flair about it.

Importantly, its easy to find the basic product information you would normally look for in your advertisements.

Trouble with advertiseing these days is that it seems to be more about artistic or creative statement than actually advertising and informing the audience about the product (advertising seems to have lost its core function).

Your new campaign is much better than than the lame attempt at advertisaing the CBA has come up with.

As far as creative statement goes, it is hard to beat Bank West campaigns, they have always been great and "out there". Their latest is also quite fun.

After moving from The Netherlands to Sydney in January this year and therefore having to give up my spot in the Rabobank Members Committee in Nijmegen, I looked into banking with Rabobank in Australia and found that this was not possible. I have been with Rabobank from the moment I was born and I really like the fact that, in The Netherlands anyway, is not 'owned' by investors but by it's members.

After seeing the ad I looked at Rabobank again and I was pleased to see that I can now at least open a savings account. This was not clear to me before, and also the current ad doesn't reflect the fact that also 'normal' people (and not only people with businesses) can open up a savings account, so maybe you can emphasize this in the next ad.

Waiting for the moment I can also open up a daily banking account and apply for an Australian Rabo credit card!

Lovely idea. If the joke about what he was collecting had been better, and the accents pushed more, it would have been a gem. Saved by the pratt fall. Definitely refreshing in too-try-hard market.

Love the ad. Very funny! The characters are great. Perfectly cast. I can see the campaign having great potential. Can't wait to see what else you have lined up.

Thanks Peter, 30 seconds goes fast. Credibility messages will be expanded in other mediums.

Thanks Peter, 30 seconds goes fast. Credibility messages will be expanded in other mediums.

Enjoy it while it lasts, tell all your friends

Thanks for your comment Elly, laughing is good for the soul! Enjoy

Thanks Tony

I hadn't seen it as American myself. Sorry about that. Thanks for your views.

Thanks Mo, I like your thinking. We will put increasing focus on our credibility aspects, safety, AAA etc as the campaign rolls forward. Point taken on the managed funds, thanks.

Yes Michelle, we did run a number of focus groups, both with existing and potential customers. Maybe someone on the focus groups may come online and comment?

Thanks David

Keith, yes appreciate your comments. However, for people who don't do their research as well as you obviously do, we need to develop a brand and attract them to our site. Thanks for your comment.

Billy, thanks for your support. Keep telling your friends

Without doubt, this is the best bank I have ever dealt with. It has the safest online transactions - hands down (probably even safer than the RSA i use with work). It has one of the best if not the best interest rates around. Its AAA rated - check it out if you dont believe me.

To put it simply, rabobank kicks a**. I love the look and the layout. Its so easy to use compared to dragondirect and NAB and comsec!

As to the ad, it looks classy but doesnt really appeal to me. Does the logo appear anywhere?
In the current environment i would focus on the Brand the AAA rating and the very secure online banking rather than the interest rate.

THE ADDS NEED TO BE MORE HARD HITTING. LOOK TO THE ING ADS AS A GUIDE WITHOUT COPYING THEM TOO CLOSELY. MOST OF YOUR PREVIOUS RESPONDENTS HAVE MENTIONED THESE ASPECTS SUCH AS ITS AAA RATING, ZERO BANK FEES, AND THE SUPERB INTEREST RATES FOR THE SAVINGS AND TERM ACCOUNTS.

As an ex-worker to Rabobank I have to say that I know that Rabobank is the world's safest Bank, but I had to watch the ad twice to see which bank was trying to claim the tag world's safest bank. It's only written on the screen not spoken, which with TV ads most viewers don't watch ads they just listen (while doing other things) and if it gets their attention they'll watch.
I'm happy that Rabo is finally taken to the TV so that people will know what and who Rabobank is.
No longer will I have to repeat myself saying "Rabobank, now at Darling park".

Rabo has the best banking website & products on offer at present - but I believe the ad is way off the mark in presenting Raboplus in a positive manner. Australian households have to contend with the high cost of living & many are in financial stress. The makers of Affluents Anonymous are out of touch with the general public who want to know about goods products in a more 'down-to-earth' format.

I definately agree that you have to advertise on TV and then have more information on line but I want to know what makes your bank the safest. I was told at the commonwealth bank the other day when I invested a very large sum at 8.4% for 6 months ( which makes you not the best interest rate and false advertising strike one) but I could sleep at night because the if the Commonwealth bank went broke it would pay term depositors befoe anyone else but I cannot find anywhere where this is stated.Clearly APRA regulates the banks with an Australian banking licence and I presume Raboplus is a wholeowned subsidery of some foreign bank which plays buy different rules. The Reserve Bank only regulates the Stability of the money supply ie is lender of last resort if no other bank will lend to it. I believe we are seeing the start of the financial tusnami that peter costallo predicted was coming in early 2007. I believe ASIC had to shutdown some unlisted property trusts especially those with TV advertisements with mezzenie financing believing that the property values could not be sustained as the credit crunch hit.If I invest with you I want to be assured that my money is safer with you than with the commonwealth bank because the banking licence you have in America is worth more than the Australian banking licence which could be withdrawn at anytime from any bank if it has overextended itself with overseas corperate borrowings as overseas rates will eventually rise.I hope that Rabo does not become an other Barrings or BearStern or NorthernRock or AMP with pearles in England or the miss adventures of NAB in England.Is Rabo here as Bankwest is here being really HBOS with there problems in London. I like the Reserve bank worry that the banking system has changed dramatically since deregulation of the bank in 1998 where our term deposits are nolonger guaranted by APRA or the Reserve bank or any Australian Government department. Again what makes your bank the safest and forget Standard and Poors Rating as they were possible paid by the banks in America to rate mortgages as AAA when they have been shown to be Junk bonds. Remember when it comes to the banks I believe the sky is falling so prove me wrong and donot treat me with contempt as your adds shown these rich people in need of therapy. All the ACR Westpoint Fincorp etc are all in need of thearapy for the stress this financial Tsunami is causing as we are all to old to fight the corupt PDS statements of this world. Perhaps the minister for industry Nick Sherry can read every PDS and post it on TV on Lateline or the Jim Learay hour

Great ad. Funny and gets the point across. Creating a partnership with a bank and making money with them is something I'm not used to in Australia. Look forward to this relationship with Rabobank. No more paying $5 a month fees for 0.05 interest. Ps, the Bankwest ad doesn't compare.....it's just stupid!

My PaboPlus online account is opening next week but the advertisements are NOT the reason i was attracted - simply, it was both interest rate and ease of opening.

But having viewed all the ads here i do recall seeing them on TV and both times they have turned me off. They don't appeal to me to be in any way an Australian 'ting' in either content or sense - house, car, dog, people, decor, and so on - just pretentious.

i'm not and i suspect most aren't either.

The reason to open an a/c with you is the interest rate not some sort of association with being an anonymous member of alcoholics anon, or drug addicts anon, or snobs anon; most people wouldn't aspire to those dubious badges of honour.

Lastly, if i hadn't been to your website and looked into the managed funds side of things i would never have recognised your m.f. logos at the end of each adv - these are far, far too small and for me in no way connect to what came before.

Still, positioning is what you're after but these ads don't position me to you - it's the rate stupid (sorry, tongue in cheek that was)

Well done asking for feedback and even higher marks for responding - that certainly is a first for this consumer!

I had never heard of Rabobank until i did a web search tonight "safest banks" & saw Rabo & wondered if you were in Aust. Another search & there you were. Click then i realised that ad that i mute every time it starts is yours! What a shock. Not a good one unfortunately. I had no idea it was even a bank ad. I have still gone through & read a lot from your site re history, AAA, values etc to see whether i would invest with you. Still the ad is a barrier to me. That smart aleck ad style that is becoming common & i find a pretty poor reflection of society. I'm a lawyer and have been involved in marketing some pretty groundbreaking "brands" (social justice type for police) with great success. Smart & funny can make an impact but i really cringe when they have that disdainful sneering edge with a slapstick (with violent connotations image) poke - well it does put me off for one. I would still contemplate investing with you despite your ad not because of it. And i can't quickly find your "legal section" that you suggest reading for more on how your AAA operates in other countries. Your site mentions it - it should then be easy to find. You do look intersting though. How are you placed for "global warming" with your rural approach - still safe with major climate issues. I hope so. THank you for being open to ask - great approach

Love your Blog

Thanks Terry, as you know being a marketing man, it is important to get brand recognition. This first stage of our relaunch is about branding. We will expand on our credibility messages over the coming months. You are quite right about the current climate though and we are the safest bank in the country with a leading rate.

George, even good products need some exposure to get noticed. Rabobank is in quite a different league to the other names you mentioned. We are the safest bank in the country with a leading rate.

Jaroslav, RaboPlus is issued by Australia’s safest bank, Rabobank Australia Limited which has a AAA rating from Standards & Poor’s. This is higher than any Australian owned or foreign subsidiary bank in Australia. Deposits with RaboPlus are guaranteed by its ultimate parent, the international Rabobank which has been ranked the world’s safest non-government owned bank by Global Finance magazine in 2005, 2006 and 2007. I leave it to you to judge.

I’m glad our ads are working!

Im not a big fan of the ads. Too much bull. Keep it simple and tell the people what they want to know. Interest rate is king, then you need to show that your well founded and that people dont need to worry about you closing up shop and forgetting to give their money back...

I enjoyed the ad! It was funny, entertaining and the word's "Australia's safest bank" were very reassuring. I think we can all relate to the squeaky chair during the meeting feeling -LOL!

Thanks for your support David. You can see our AAA credit rating in our print advertising.

Hi Bryan & The Rabobank Team,

I think while the advertisement is a bit of a change to the usual bank garbage (Hint: NAB). I think it is the interest rate which definately draws people to a banking product. Personally i choose Rabobank because of the security which is provided to every customer - not at a substantial and optional charge as with other banks.

I know Rabobank to be a leading commercial banking corporation, also with the highest possible (AAA) Credit Rating. For me, these two things alone are enough to sell me on an investment product. The 7.8% is great too..

I think the ad really does cater for the Joe Average who just wants to know how much interest they are going to get and it does so quite well.

I have substantial funds invested with Rabobank and it definately beats the 6.4% i was getting with the NAB. It makes a huge difference to my wine cellar at the end of the year. Beautiful. Thanks

I find myself in almost complete agreement with Tery Kelly. You should be emphasizing your AAA rating and your market leading interest rate. In my opinion the current add is appalling and does nothing to add value to the RABO brand. By the way I am a very satisfied customer of RABO and would recommend RABO to my friends.

Former employee of Rabobank.

I'm not too impressed with the OZ TV ads. The NZ (and Dutch) ads are so much better and I think better reflect the way Rabobank looks after its customers compared with the big banks.

I suggest more visible branding and interest rate figures on the ads (I, like many others, press Mute during the ad breaks).

I guess it's good in raising general brand awareness but like a few people have said doesn't really emphasise the security and AAA rating.

I guess this helps raise general awareness, and when people follow up they'll find that stuff out as well.

Nice work on the blog!

Hi Trevor, you’ll see mention of our AAA credit rating and other credibility messages in our press and online advertising. The TV ads are really about breaking through existing clutter and they seem to be doing it quite well. Glad you are enjoying RaboPlus products.

Andrew, great to have you as a customer – hope you’re enjoying your wine!

Glad you liked the ads Gaynor.

Hi Pam, the purpose of our campaign was to use a fictitious setting with fictitious characters to draw attention and gain cut through in a very cluttered market. At this stage the ads seem to be working for us, we have noticed a significant increase in the amount of traffic to our website.

This purpose of this campaign was also to launch our brand, give it a personality and encourage people to visit our website to learn more about RaboPlus and our products.

Nice to see Rabo is on TV. The ad i a little quirky. Emphasise on yr security and interests- money talks. Wasnt yr ad that made me bank with you :)

The TV ad is OK, but the voice of the "male" doing it is very strange. We think it is the same person who used to do voice work for SBS and who also does ads for "gay" services on late night TV (Channel 7). We suggest you pick a more suitable and gender specific voice to replace the one you have ASAP!! It is a turnoff!

You’ve hit the nail on the head John – the TV ads are all about creating brand awareness.

Thanks for your comment Leighton. Glad you like our ads, we too look forward to a relationship with you.

If advertising is about getting noticed, then this could be said to be effective, however I believe advertising is more about resonance between your customers and your brand. Why do people invest with Rabobank?
1) Best interest rate.
2) Great security.

I think this "funny noticeable' ad says all the wrong things about your brand, and as a customer I know that. Does abnyone really relate to the characatures in your ad? Does anyone want to?

You have a great story, and you are trying FAR too hard to keep up with the Jones'.

Welcome to Australia Kim, and thanks for your comment. We have many Dutch people banking with us, and the Dutch community is quite large in Australia. Unlike The Netherlands, but consistent with most of its overseas operations, Rabobank in Australia does not operate as a general retail bank. Its focus is the rural and agribusiness sector. However, RaboPlus does offer products such as its savings account to retail clients for personal use. The RaboPlus products are only accessible by the internet, so, unfortunately, we cannot offer you a credit card. With regard to Rabobank’s ownership, the Rabobank companies which operate in Australia are ultimately owned by the same entity which oversees the operations of Rabobank in The Netherlands. As such, the same cooperative principles guide the bank’s operations in Australia as in The Netherlands.

I am aware that Rabo specialises in the Agricultural sector. A recent article in the AFR mentioned how well the agricultural sector has done. Do you recommend any 'agricultural' funds?

Thank you for your answer Bryan. It's good to know that, as a member of Rabobank in The Netherlands, very indirectly I also 'co-own' a little part of Rabo Australia. I also suspected that an Australian Rabo Credit Card would not be made available to the general public soon, so it's a good thing we kept our Dutch one, especially since we support WWF every time we pay with it as well.

I opened up a savings account and today was the first day I could login and look at my balance at Rabo Australia, it was a good experience. I hope a lot of people agree with me.

Keep up the good work!

Hello,

I enjoy the add, it gives me a great laugh.....I think a good idea for your next one would be to use Raboplus staff, so we know it is not just an internet web page we see, but real raboplus staff, it would make it more human, and more personal for us customers......Thanks for the great rates.

Dale

Hi TB, you’ve raised a number of questions here so I’ll answer them separately:

1) Why are we the safest bank?
There are a number of reasons why. The ultimate parent of Rabobank Australia Limited (the issuer of RaboPlus), which guarantees all deposits made with RaboPlus has been ranked the safest non government owned bank in the world in 2005, 2006 and 2007 by Global Finance Magazine. Rabobank Australia Limited has the highest (AAA) rating from Standard and Poors, whilst its ultimate parent also has a AAA rating from Standard and Poors, as well as the highest credit rating from other prominent international rating agencies Moody’s and Dominion Bond Rating Service.

2) RaboPlus interest rates. Our on call rate, currently 7.80% pa is a market leading rate. Furthermore our rates are transparent, apply to the entire balance in an account and we don’t discriminate - our rate is available to all personal, business, trusts and DIY Super clients.

3) Do we play by rules set by APRA?
Of course we do. Rabobank Australia Limited, whilst being a wholly owned subsidiary of Rabobank Nederland, is an Australian company holding an Australian banking licence from APRA. Therefore we abide by the Australian Corporations Act, and are regulated just as any other domestic bank (or Australian Deposit taking Institution) would be.

4) Standard & Poors ratings.
S&P ratings provide a level of independence and a basis for comparison. Even though they are paid fees to undertake reviews to provide credit ratings, their results are determined independently using objective criteria.

5) Will RaboPlus become another Barings or BearStern?
Very unlikely. Rabobank Nederland’s (Rabobank Australia Limited’s ultimate parent) latest financial report shows it exceeded its 2007 profit targets by 14% to 2.7 billion Euro and the Chairman of its Executive Board stated “the executive board expects that Rabobank will meet its long term targets again in 2008.” The results can be viewed at www.Rabobank.com. As Rabobank Nederland is a co-operative rather than a company with shareholders, it isn’t necessarily driven by profits, so there’s no pressure to earn high dividends for shareholders during volatile times.

Hi Andrew, firstly I just want to clarify that Rabobank Australia, specialises in the rural and agribusiness sector and RaboPlus is the online retail banking arm. While I am not able recommend any particular funds, the agricultural sector is just one of the sectors that appears to be performing well at the moment. We have quite a range of funds on our fund selector which you may want to check out.