A worthy pledge or just another marketing campaign?

Brands can make as many promises as they like but they need to keep them says Chris Noone, in a piece that first appeared in Encore.

Fierce competition and the rise of the informed consumer are taking brands into new battlegrounds. Competing on price, service and features is no longer enough to get consumers to take notice. Many brands are now trying to differentiate themselves by being ‘good’ or ‘honest’. These catchphrases make great marketing campaigns, but what obligation do marketers have to ensure that they are actually delivering on the commitments they make?

ANZ has been heavily promoting its pledge to lend $1billion to new small businesses over 12 months. A worthy objective and an opportunity that will be welcomed by many small businesses.

After three months one would expect that about $250m would have been loaned but when approached and asked, the bank declined to release any concrete details. If they have loaned more, it’s a great opportunity for ANZ to shout about their success and how they are delivering on their promise to help small business. But if the figure is lower than $250m what obligation does ANZ have to speak up? Can ANZ just stay quiet if they don’t like the results? Where is the line between a great marketing angle and corporate integrity?