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.

“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

Blog Posts

Cannes Part 2: How Adidas is maximising digital while articulating culture

“Retail is not dead”. This was the bold statement made by, Michael Treff, president of Adidas’ digital creative agency, Code and Theory, at this year’s Cannes Lion festival of creativity.

Nickie Scriven

CEO, Zenith

Cannes Part 1: Why brands must put human interactions at the heart of their business

As a Media Juror at this year’s Cannes Lions, I was fortunate enough to attend the world’s most influential festival of creativity and listen to thought-leading marketers from around the globe.

Nickie Scriven

CEO, Zenith

4 creative skills that will be useful forever

In recent times, the clarion call from futurists, economists, marketers, educators and leaders the world over is one of slight panic, “The world is changing and you’re not ready for it!” And of course, they make a very good point.

Kieran Flanagan and Dan Gregory

Speakers, trainers, co-authors

Being an investor who has an understanding of the finance industry, I would question the validity of this article, judging by the impairm...

Rowan

How a customer-led digital transformation has helped this CMO generate $6m in incremental business

Read more

An interesting update considering that today is the easiest way it has ever been to measure contribution to the business as well as the h...

Frederic

State of the CMO 2019: Tenure shortens, pressure is on as marketers strive to demonstrate impact

Read more

I thought this was what Salesforce Audience Studio (formerly Salesforce DMP) was supposed to do. How are a CDP and a DMP different? I'm c...

Tony Ahn

Salesforce announces customer data platform

Read more

Well written Vanessa!! Agreed with your view that human experience is marketing's next frontier. Those businesses who are focused on the ...

Clyde Griffith

Forget customer experience, human experience is marketing's next frontier

Read more

Great tips for tops skills need to develop and stay competitive

Nick

The top skills needed to stay competitive in a rapidly changing workforce

Read more

Latest Podcast

More podcasts

Sign in