How CBA, Australia Post and Optus are wowing their customers

Chief marketing officers of three of Australia's leading brands share how they're working to personalise and make customer engagement more relevant

Australia POst's Greg Sutherland, CBA's Vittoria Shortt; Optus' Vicky Brady
Australia POst's Greg Sutherland, CBA's Vittoria Shortt; Optus' Vicky Brady

Marketers have historically put too much focus on acquisition and need to recognise existing customers are both a source of growth and influence through advocacy.

That was the view shared by a panel of CMOs from Commonwealth Bank, Optus and Australia Post, who were brought together to tackle the subject of ‘Meeting Consumer Expectations: Wowing the customer’ at a recent Trans-Tasman Business Circle event in Sydney.

“Historically we did put a focus on acquisition and it’s an easy trap to fall into,” Commonwealth Bank CMO, Vittoria Shortt, told attendees.

“Over the last 18 months, we’ve worked on what it means to be a good customer of CBA, what it looks like and understanding the profile of those people. So we are changing our messaging from actually helping customers to getting the most out of the products they currently hold. We have also put more emphasis going into rewarding customers that are very loyal.

“It’s a big shift in messaging – everything from support services, to making sure you know the features and ensuring you’re using them, right down to nitty gritty communications.”

Shortt pointed to the findings of a recent social media project, which sought to better understand CBA’s 1 million social platform followers and engaged users.

“It turned out they are our most loyal brand advocates and of higher value than the rest of the customer base,” she said. “That has helped changed the way we engage on social and what we message.”

Related: CBA CMO: Marketing's business contribution is increasingly valued

Optus managing director of customer, Vicki Brady, agreed the telco industry in particular had been obsessed with customer acquisition, having taken double-digit customer growth for granted through the rise of mobile connectivity.

Read more: 7 simple, low-cost ways to acquire new customers

“We became addicted to acquisition and customer growth but actually existing customers who are looked after and loyal are a source of not just ongoing growth but that advocacy and influence over future decision-making and purchases,” she said.

Optus has turned its customer team’s thinking about getting new customers for products and services on its head, Brady said, and is increasingly looking at new products and services in the context of benefits for existing customers.

“We go proactively to them first,” Brady said. “It’s been a real shift in dynamic across the business. Churn rates are below 16 per cent from 20 per cent and we have targets to go lower again. But it requires cultural shift.”

Pictured from left: Greg Sutherland, Vittoria Shortt, Vicky Brady

UP next: Aus Post, CBA and Optus share how they’re changing their teams and innovating to be more relevant to customers

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments
cmo-xs-promo

Latest Videos

More Videos

Who can confidently pick the best service among those listed on this site?Indoor Navigation For Airports

nearmotion

How beacons and nearables are giving marketers new customer know-how

Read more

Awesome information on marketing company..awaiting for your new article on Advisory services and also on below topics.business advisory s...

Wasim Ahmad

CMO's top 8 martech stories for the week - 2 December 2021

Read more

I couldn't understand one things why on earth people only talk aboutimpact of digital transformation on banking and finance field instead...

Rajesh Acharya

Digital take-up and experiences help drive Suncorp's solid FY21 performance

Read more

I really appreciate your article. Love your Article. By reading your article, its created an idea in my mind about loyalty strategy to ke...

Jack Reacher

Report: Marketers failing to realise the benefits of customer loyalty programs

Read more

One month’s research and we’ve handpicked this generation’s 50 most talented Women CEOs, leading the top multinational companies around t...

Vaishnavi Pillai

Women in leadership the focus on International Women’s Day

Read more

Blog Posts

The massive flaw in customer-centric marketing CMOs need to know about

Behavioural biases mean customers, most of the time, have no idea what they want, despite what they tell you.

Dan Monheit

Co-founder, Hardhat

When friction can be a brand’s best friend

I always enjoy those oft-forgotten, in-between moments in any experience. These moments are not necessarily part of any defined experience per se. They likely wouldn’t show up in an organisation’s plans or ideas to help make the customer journey or user flow as simple, easy and seamless as possible.

Rich Curtis

CEO, FutureBrand A/NZ

How much attention should we be paying to the ‘attention economy’?

There’s been a lot of buzz in the advertising industry lately about what’s coined the ‘attention economy’. And it’s fast becoming the new battleground for media channels to prove their wares and to develop and espouse new attention metrics.

Nickie Scriven

CEO, Zenith

Sign in