Commbank CMO: ‘the expectations of brands are really increasing’
The chief marketing office of the Commonwealth Bank has warned other marketers that customer expectations of their brands have evolved, requiring them adopt new technology and improve brand interactions to meet the higher bar.
In the latest AANA Marketing Directions program Vittoria Shortt tells MEC’s James Hier that the bank is constantly thinking about how to meet those changing expectations.
“The expectations of brands are really increasing,” said Shortt. “So for us what that means is what are the messages we are taking to market? How are we communicating our role in Australia and communities as well as the products and services that we offer.
“I also think about the mobile phone adoption and making sure we are there communicating where they are — in the mobile channel.”
Shortt also spoke openly about her financial and corporate background but said one of her greatest challenges was around thinking creatively.
“I feel very comfortable talking to the board about ratios and numbers and the like and analysis,” she said . “So the challenge for me is really thinking about creativity because that is also at the heart of marketing and then it’s how you can marry that up with data and insight.”
The bank’s marketing boss noted how increasingly there were a set of fixed performances requirements from company boards, but argued this was an opportunity for savvy marketers.
“I think boards are quite rightly expecting a lot of performance from marketing teams,” she said. “Boards are being quite attuned to a lot of the tools that are available to marketers and in particular the measurability of digital channels.”
“So the opportunity is for marketing to extend from some of the traditional metrics around consideration all the way through to showing how measurable the investment returns are.”
Nic Christensen
Good job James. Very interesting, relaxed, and succinct. Oh , and of course, well done Vittoria.
Cheers.
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