I’m old enough to remember the days when marketing didn’t exist. Someone made a great product and through word of mouth their reputation spread. In this day of spin and marketing/programming, banks and other institutions need to spend billions to cover up the fact that in actuality they suck and that in terms of banking we are still stuck in 1990.
Top five banks spent R1.75 billion on marketing – 14th May 2013
There is a little bit of a fuss at the moment as to whether Capitec has overtaken Nedbank to become the fourth largest wank in SA.
Oops, did I say wank, I meant bank. It depends on how you move the numbers around as to who ranks where.
What I personally found interesting is that
According to the AMPS data, the top five banks spent a total of R1.75 billion in marketing over the period, with FNB spending the most – R562.3 million.
Holy crap – R1,750,000,000.00 to convince the South African populace that they are doing their best for us, bbuullsshhitt, cough cough. That’s a lot of money to convince people of what a great service you are giving us.
South African banks are ripping off credit cardholders to the tune of R1.5bn a year through inexplicably high charges and complex fee structures.
Richard Branson
By the way if there where 50 million South African’s that is R35 per person and who paid for it? I paid R35 for ‘my bank’ to convince me that them screwing me over, was ‘good for me’.