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!

Or
Error: Please check your email address.
Show Comments

Blog Posts

Why doing your job well is the key to innovation

The words ‘power company’ and ‘innovation’ probably don’t seem like a natural combination. In fact, when I first went for a marketing role with an electricity company, I semi-dreaded the work I thought I’d be doing.

Catherine Anderson

Head of marketing, Powershop Australia

The great unlearning: How brands can assist with the adoption of voice

Mainstream adoption of voice technology will be all about what consumers are learning not to do.

Ash Mustchin

Director, digital and experiences, Principals

Why getting intimate is key to creating a great customer experience

According to CMO’s State of the CMO 2017 research, 83 per cent of CMOs believe customer experience to be central to their role. An interesting stat considering few of us experience great brand experiences.

Pip Stocks

CEO and founder, BrandHook

'to lesson screen time'LOL someone needs a lesson on how to lessen typos.

Andrew Ward

Golden Circles invests in content play to drive brand purpose

Read more

Hey Nadia, interesting read. We have all read about what your chatbots should offer or have but haven't came across with anything about w...

Ashish K Jain

What not to do when building chatbots and voice-based brand interactions

Read more

There are some many other great solutions compared to the ones you listed here. Our clients left some of those and switched to MARA (getM...

Alexandru Rada

CMO's top 10 martech stories for the week - 9 June

Read more

Charming Shane. You know this is a public forum, right ?

Peter Strohkorb

​CMO Interview: Why aligning sales and marketing drives innovation at Konica Minolta

Read more

I agree customer intimacy is a great way of creating better customer experience. Especially in the Insurance and Financial industry. Her...

Jessicalopez1989

Why getting intimate is key to creating a great customer experience and optimising customer value

Read more

Latest Podcast

More podcasts

Sign in