Comments on: RBC CEO writes to clients: Is this good or bad communication?

By: Natasha Nanji

Natasha Nanji — Thu, 12 Feb 2009 00:08:10 +0000

As a Humber PR student who has spent a great deal of time studying press releases over the past few months, this letter, at least in my opinion, seems to be just that- a release and hardly a means of effective communication.

It’s almost textbook: a decently salient lead, some promotion of key messages in the face of hard times and a boiler plate reminding you why you should choose RBC. All that seems to be missing is a quote from Gord Nixon, but seeing as how he “wrote” the letter, I suppose the point is moot.

I agree with Kalene, it’s nothing but blatant advertising. Whether or not it’s effective will likely depend on the recipient. Personally, I would hope my junk mail filter would place that message where it belongs.

By: nancy (aka money coach)

nancy (aka money coach) — Tue, 13 Jan 2009 20:13:47 +0000

I received the e-mail too (and the message is also on RBC’s homepage). I’m not entirely cynical about it. My own (very part-time) employer, (full disclosure) Vancity/Citizens Bank, put a similar message on their homepage months ago.
In a time of bad news upon bad news in the financial world, I think financial institutions are simply attempting (some better than others) to mitigate fears, and fear-based financial behaviors, by saying “We’re OK; you money is safe with us”.
This particular note could have done better by eliminating the second and third paragraphs which are so clearly self-serving, although of course the whole point of reassuring us is to elicit further financial activity.
The unusual step of putting the notes in our inbox is probably due to the heat the banks are taking/will take re: interest rates and they want to make sure every person possible receives *their* message.
Too bad they’ve never done this in less tense circumstances.

By: Tom Reidt

Tom Reidt — Mon, 12 Jan 2009 23:26:16 +0000

Any letter that begins with “Dear Valued Client” is destined for the trash. If they actually had an interest in communicating with you, rather than at you, they could at least put your name on it. Unfortunately, the only time the banks seem to care to communicate directly is on bills or new credit card pitches. This letter may as well have been on a billboard.

By: David Jones

David Jones — Mon, 12 Jan 2009 04:36:00 +0000

I believe this is called Direct Mail.

By: Kalene Morgan

Kalene Morgan — Fri, 09 Jan 2009 23:29:41 +0000

I see this letter as another form of advertising.

I wonder if RBC is having difficulty reaching its customers through traditional advertising channels and is trying a new approach.

By: Cait Lafleche

Cait Lafleche — Fri, 09 Jan 2009 19:52:42 +0000

This is clearly a sales pitch, but RBC somehow still thinks sugar coating it with pleasant words and wishes will hide this fact.

Studying public relations and communications over the past two years, what I’ve learned is that people aren’t stupid and can read between the lines. Honesty is something that has been drilled through our heads in school, and being completely straight up with people is key in the communications world.

A letter simply asking for more of your business and cutting out the fluff would have sufficed.

Personally I like people who get to the point, and I think that’s what communications is all about.

By: Natalie Homer

Natalie Homer — Fri, 09 Jan 2009 18:09:43 +0000

It’s hard to know where to start dissecting this ‘communication’.

I should preface this by saying that I’m not a huge fan of banks that charge you for the privilege of managing ones hard earned money. ING Direct doesn’t nor does President’s Choice so there’s food for thought.

The fact that you’ve posted this letter for comment leads me to think that you too are inwardly irritated by the bank’s presumption that as a mere customer you will mistake this cunning sales pitch for geniuine financial advice and fatherly concern. To me it’s nothing more than poorly veiled scaremongering.

Buy this if you don’t want to die.

Some people (usually those in greatest need) might fall for it and take that trip to see an RBC adviser (the company has spent enough money on TV advertising to the same end) who will terrify his/her way into your finances and then charge you a handling fee followed by monthly admin fees. Thank you very much. Come again. Just don’t expect to hear from them until the next financial crisis when they need to make the numbers balance.

If they really cared they’d automatically lower the APR on credit cards without the song and dance currently required and they wouldn’t expect thanks – just your continued loyalty.

Am I being too harsh?