Raboplus Blogs

Conversations

First Theses of Cluetrain manifesto says – “Markets are conversations” and organizations around the world are embracing online conversations be it behind the firewall or directly with the consumer. In my view that is the *MOST* important aspect of web2.o getting into dialogue with end consumer directly (B2C communication).  I further strongly believe that Blog is an impotant tool for such conversations.

Banker’s Blog

I did a quick search on how many bankers from top banks are blogging in australia. Till now I could only spot one such Executive blog from Greg McAweeney General Manger Raboplus  (online direct bank of Rabo bank). In hope, then i also checked on some of the direct banking websites like UBank (NAB), ING direct and One Bank (ANZ) and none of them are into direct conversation with consumers.

Wisdom of crowds in action

On this Blog Greg recently started an interesting discussion around lack of transparency in advertising of high yield online savings accounts. It is worth taking a look on the post and the comments from customers and the fact that Greg is taking the pain of replying to these comments. I see it as a perfect example of wisdom of crowds in action, I personally learnt a lot about interest rates and how the banks fool around in fine prints.

Another good thing about this blog is that it is Executive blog – not owned by some person but the the general manager so when Greg joined in October 2008 he started the conversation from where last GM left. Generally Blogs are looked upon as a personal logs and companies experimenting with web2.0 face the challenge when the project sponsor leaves. However Here it seems like that to be GM of raboplus you got to be keen on blogging … ( I am assuming that blog is not ghost written by marketing team). Good work Greg!!

Will be on lookout for more such examples of open conversations and web2.o examples in Financial industry