In light of the scale and pace of change around the world, Commonwealth Bank is kicking off a new brand campaign to better understand the uncertainty many Australians are feeling about the future.
Recent research undertaken by CommBank found the majority of Australian adults (66 per cent) admit to feeling uncertain about what the future holds, with the uncertainty particularly pronounced when it comes to matters of a financial nature. Of note:
- Eight in 10 Australians (80 per cent) are worried about the cost of living in the future;
- Seven in 10 Australians (70 per cent) are concerned about being financially secure in old age;
- Nearly seven in 10 (68 per cent) cite future housing affordability as a notable concern;
- Six in ten (60 per cent) admit they are concerned about having enough money for a rainy day (unexpected future expense);
- Almost half (49 per cent) say achieving work-life balance is tougher than it was five years ago.
In addition to highlighting the uncertainty people are feeling, the findings revealed that close to three quarters (73 per cent) of Australians want banks to do more to understand their needs and concerns. About the same amount of people (72 per cent) want their bank to be a partner in helping them address their needs and concerns in an ever-changing world.
Stuart Tucker, Commonwealth Bank’s General Manager of Brand, Sponsorship and Marketing Services, said the bank recognised that a new landscape required a new approach to address the important issues in people’s lives.
“It’s only natural that people feel uncertain – look at the events of 2016,” Mr Tucker said.
“We’re hearing this through our conversations with customers, and through our market research.
“This new campaign is all about showing Australians that we understand the uncertainty they’re feeling, and to help them find news paths forward.
“We want to help them achieve their financial goals despite the uncertainty that exists, whether that’s buying a home, growing their business, securing their retirement or planning for their kids’ future.”
Mr Tucker added that the new campaign will start with listening.
“Australians want banks to listen more, which is precisely what we’re going to do.
“As a start, we’re going to ask our customers a series of short questions both online and through our network of ATMs. The questions are centred on topics that matter to most Australians – housing affordability, preparing for old age, our kids’ education, our businesses’ readiness for the future.
“We’re going to share the results and insights with the Australian public, and take the feedback on board to help shape new products and services that will meet our customers’ needs now and into the future.”
The new campaign kick-starts this week.
Customers will be asked short, straightforward survey questions at ATMs and online at can.com.au, with the results shared via localised digital out-of-home displays and on the can.com.au website.
Associated creative will appear across television, online video, digital display, and out-of-home.
To find out more about the campaign or to share your opinions on the issues facing Australians, visit can.com.au.