From the love affair to the war of the roses
In their advertisements, banks play the role of the gentleman; in reality, it is those who have been lured in who foot the bill. Op-ed by Josefa Haas, director of the Media Institute.
The current financial crisis shows once again that the banking world speaks with many tongues: investors' pockets fill themselves, employees can count on high bonuses, and innovation in the industry means risky juggling with hopes and other people's money. Small customers provide the play money with their savings. In advertising and in advisory discussions, banks always want the best for them: to build up intimate relationships between individual customers and advisors, as UBS puts it beautifully. Bernhard Eggli, Head of Brand Management, relies on the togetherness of client and advisor. Of course, crises are not foreseen in the campaigns. With You & Us, UBS is formulating a promise, says advertising manager Mark Roeder, but only the bank employees can prove in their daily contact with clients that this promise is kept.
In a crisis, the culprits are quickly found. Luzerner Kantonalbank, for example, points to the responsibility of bank customers, who were informed about the risks. From their perspective, however, the focus is on advisors who sell supposedly safe investments with capital protection. The role of advisors, on the other hand, is not as simple as a UBS advertisement makes it out to be. In day-to-day contact, customers experience their advisors more often as salespeople than as helpers. Banking ombudsman Hanspeter Häni explained in an interview with the Aargauer Zeitung: "According to mandate law, the advisor must advise the client what they would do in their place." And he notes: "Does a bank really want to accuse its customers of having too much trust in personal advice and therefore not studying the factsheets carefully enough?"
Does a bank really want to accuse its customers of placing too much trust in it? The banks themselves should face up to this criticism. The advisors on the front line implement the management's instructions, while customers are guided by the image of the institution, its basic attitude and its track record. The bank's strategy determines its day-to-day business and its communication conveys this at all levels, from the TV commercials to the language used by advisors. Communication can therefore not shirk its responsibility if the products and services do not meet expectations.
The banks are reacting strangely quietly to the current situation. Small customers are not at the center of crisis communication, and only a few are being proactive: Berner Kantonalbank, for example, feels "morally obliged" to its customers. It wants to assume liability for Lehmann's capital protection products. Other banks are seizing the opportunity and communicating their security-oriented investment strategy. On the websites of the big banks, the focus is still on the well-being of savers. The CS campaign deals with change in a particularly meaningful way - not its own, however, but that of its customers. In its current commercials, CS promises: "You think about moving moments. We also think of solutions that help you move forward."







