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 newsletter!

Error: Please check your email address.
Show Comments

Blog Posts

To DMP or not to DMP?

There are plenty of brands that can benefit from plugging into a data management platform. But should you engage an agency to run one or bring it in-house?

Ben Willee and Richard Taylor

Spinach Advertising

Innovations in retail will bring creative and technology closer than ever

While approaching a customer in a shop and asking what you can help them with is Retail 101, how many of us actually enjoy being approached? Generally, you have to give the forced, fake smile and say, “Just browsing, thanks,” while screaming on the inside, “just leave me alone!” Maybe it’s just me?

Jason Dooris

CEO and founder, Atomic 212

There’s a brand in my digital soup

Not a day passes by in the life of business executives where digital innovation or the prospect of disruption is not front of mind. This in turn, drives an unrelenting flow of questioning, discussion and strategy papers.

Jean-Luc Ambrosi

Author, marketer

It is really inspiring to see that medial psychology & machines are going hand in hand to innovate new things and even are improving ...

CBT Professionals

How psychology is shaping better machine learning

Read more

Anything is achievable when you talk the talk .. good luck

Mo Al Hooti

Data Creative crowns Matt Bates as new CMO

Read more

Great hire and good luck Andrew. I am sure you'll do a fabulous jobRob

Rob

Amaysim marketing and commercial chief joins property tech investment startup

Read more

I need to be reborn before i can grow up & become a contestent.

Kaye Peterkin

Channel Nine's content now streamed digitally on 9Now

Read more

I hope The Block, will continue for many many more seasons.When i die, & grow up, I want yo come back as a contestent.

Kaye Peterkin

Channel Nine's content now streamed digitally on 9Now

Read more

Latest Podcast

More podcasts

Sign in