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

Blog Posts

3 ways customer data can increase online sales conversion

Data has been an increasingly critical factor in improving the efficiency and effectiveness of marketing and business operations.

James Bennett

Chief experience officer, Kalido

Our sharing future is both terrifying and exciting

Discussing the future in a realistic fashion is often a disappointing prospect. For all the talk of hoverboards, jetpacks and lightsabers changing the way we do things, the reality tends to end up being something as mundane as a slightly cheaper way to get around the city.

Jason Dooris

CEO and founder, Atomic 212

Queue experiences that are distinctive, memorable and shareable

Customer service that’s quick, easy and convenient has been shown to boost customer satisfaction. So it’s an odd juxtaposition that customer queues have become a sharable customer experience.

Wouldn't reconnecting with younger consumers be in direct contravention of the code on alcohol advertising?

Tim Palmer

Vodka Cruiser reconnects with younger consumers via category-first Facebook Live campaign

Read more

Thanks for the article Jennifer, you raise some interesting points. The supermarket and shopping centre examples particularly struck a c...

Jill Brennan

Why marketers should take note of social robots

Read more

Winning the retail game is really tricky at this point in time. Many retailers have declared themselves as bankrupt. But yes harnessing t...

Vanessa.M.Magers

​Bricks and clicks: Balancing digital and physical to win the retail game

Read more

Excellent article, Thank you.

Steve Beards

How Aprimo hopes to help marketers tackle distribution of content, funds and data

Read more

Thank you for a great article, Matt.

Andrey

Top tips to uncovering consumer insights for business innovation

Read more

Latest Podcast

More podcasts

Sign in