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

How challenger brands can win at biddable media

Challenger brands, especially in highly competitive markets, generally can’t match established players for media spend.

Chris Pittham

Managing director, Jaywing

The competitive advantage Australian retailers have over Amazon

With all of the hype around Amazon, many online retailers have been trying to understand how they can compete with the American retail giant.

Joel Milligan

Performance manager, Columbus Agency

How to become the customer experience custodian

The number one objective enterprises give for embarking on a digital transformation is to improve customer experiences with new engagement models, according to IDC’s 2017 global study.

It's all about the experience and it seems that understanding is finally full tilt!

Danny Mack

Building a robust digital customer experience

Read more

I am going to visit Australia))) nice place ... one of the most attractive

Carly Julia

Tourism Australia aims for youth travel market with dedicated news channel

Read more

An interesting article that touches on the importance of a name, and introduces the concept of naming categories. However, it doesn't liv...

Adam Diggens

Brand creation: It’s just a name…or is it?

Read more

I'd like to see moving forward, how retail factors into SalesForce with the premise of IoT. Things such as customer behavioural analytics...

Rachel Mackey

Salesforce looks to democratise AI, IoT with latest platform play

Read more

More disgusting outdoor advertising signage. Sick of our public spaces being used like this.

Guest

Telstra looks to transform the payphone into a digital advertising and connected community unit

Read more

Latest Podcast

More podcasts

Sign in