CBA CMO: Marketing's business contribution is increasingly valued

Chief marketing officer, Vittoria Shortt, shares her views on modern marketing leadership in the latest AANA series

114542
114542

Marketing’s contribution to business is increasingly being valued by organisations and is helping to drive product innovation at the Commonwealth Bank, its CMO, claims.

In an interview for this week’s episode of Marketing Dividends, presented by the AANA, Vittoria Shortt said a sign of marketing’s growing corporate value is the fact that marketers are increasingly sitting on the leadership teams of the business at different levels.

“The second real metric for me is that we’re seeing a lot of our marketing talent go into other areas of the business,” she said. “Marketers are going into product, they’re going into the digital channels and I think that’s a wonderful sign when your marketing talent is sought after across the business.”

Shortt said customers’ expectations of brands are increasing, pulling marketing right into the heart of business. CBA’s response is to innovate through technology as well as shift from mass communications to one-to-one engagement, interacting with customers when and where they want, she explained.

An example of how marketing and product development teams have worked together over the last 12 months is CBA’s cardless cash initiative, which Shortt claimed represented a first-time capability in the market that chalked up $1 million worth of transactions in its first three weeks.

“We knew we’d got our messaging right and clear and delivered the right tools to help bankers explain it to customers,” she said.

Shortt said the role of marketing is to keep demonstrating the value it can bring to the business.

“It’s really about how marketing teams are harnessing the changes that are going on; [and] how they’re harnessing the new tools, particularly digital and data,” she said. “And then showing the businesses the insights that they can really bring to help drive business value.”

Shortt was appointed CBA’s chief marketing officer in September 2013.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia

Signup to CMO’s new email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

Top tips to uncovering consumer insights for business innovation

An in-depth understanding of consumers sits at the heart of what we all need to do, but we know it’s not always easy to uncover insights that will unlock a true innovation opportunity.

Matt Whale

Managing director, How To Impact

Is your customer experience program suffering bright shiny object syndrome?

You may have heard of ‘bright shiny object syndrome’. The term is used to describe new initiatives undertaken by organisations that either lack a strategic approach, or suffer from a failure to effectively implement.

Leveraging technology to stand out in the sea of sameness

The technology I'm talking about here is data and marketing automation. Current digital marketing methodology, much as it is practiced at Bluewolf, dictates the need for a strategy that does four things: Finds the right audience, uses the right channel, delivers the right content, and does all of that at the right time.

Eric Berridge

CEO and co-founder of Bluewolf, an IBM Company

Lead Management is very important part of the process. For anyone running Facebook Lead Ads I would recommend using this service.Get your...

Dirk Lo

How this fintech startup is improving content marketing and lead generation

Read more

I am agreeing with Mr. Tyron Hayes that a measured test-and-learn approach could be missing opportunities to not only better engage custo...

rush essay reviews

CMO interview: How Curtin University’s marketing chief is using test and learn to cope with complexity

Read more

Excellent!

Dr Sadasivan,US

Shakespeare shows data and creativity aren’t Montagues and Capulets

Read more

Great article! Agreed with all... Matthew Lerner, Deeps De Silva... When a company has a great product that solves customers needs, a gre...

James Tyler

Why marketers are embracing growth hacking techniques

Read more

Very good article, Social media analytics helps in problem identification. They can serve as an early warning system for negative custome...

BizVinu

Four ways to use social media to boost customer loyalty

Read more

Latest Podcast

More podcasts

Sign in