Commonwealth Bank has kicked off its “extensive” ad campaign to apologise to and reassure customers following CEO Ian Narev's public statement yesterday, but in the face of a swell of discontent among customers, are they enough?
The long-copy ad, created by M&C Saatchi, launched today (4 July) in the form of an open letter from Narev. The ads have been developed in the absence of Commbank's CMO Vittoria Shortt, who is currently on leave.
It reiterates his apology, admits wrongdoing, explains the launch of the Open Advice Review program and directs people to the new website and helpline set up to help customers affected.
However, the ads sit alongside reports in the papers today suggesting Narev's statement and efforts to make amends, aren't cutting the mustard with victims and customers.
Michael Pascoe, talking on Seven's Sunrise show this morning, suggested this will be forever taught in business schools as how not to deal with a reputational damage. His comments echo those of communications experts who in the lead up to yesterday's announcement had already dubbed it a “staggering failure” in crisis communications.
http://bcove.me/885qo5pe
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