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Commonwealth Bank - Meet the tech savvy CMO

Holly Morgan | June 9, 2017
As the CMO mandate widens, the channel is chasing a new type of buyer - but what makes marketing tick?

Vittoria Shortt - CMO, Commonwealth Bank
Vittoria Shortt, CMO of Commonwealth Bank

While a CEO may still hold the centre of attention in any given business, the path to glory is being paved by a new voice within the boardroom, the CMO.

Not merely a typical marketing head honcho however, rather a digitally focused leader that delivers new levels of innovation across the organisation.

Never before have CMOs yielded so much power to drive tangible results throughout the customer lifecycle, creating new buyers for the channel in tandem.

"Ultimately, my primary focus is customer satisfaction and the customer experience, which drive business outcomes," Commonwealth Bank group executive group marketing and strategy, Vittoria Shortt, said.

"One of the key pillars to deliver this purpose is to combine cutting edge marketing technology practices with creative executions.

"The strategy requires the team to be highly tuned to new technology, analytics capabilities and the competitive environment."

In heading a business unit formed in March 2016, Shortt oversees specialists across a range of marketing and strategy disciplines including CommBank's data analytics centre of excellence.

"The team works very closely with colleagues across all the business units to deliver to our vision - to excel at securing and enhancing the financial wellbeing of people, businesses and communities," Shortt explained.

"We continually challenge, disrupt practices, question and apply the latest thinking, adapt and pioneer new ways to engage with customers."

Internally, Shortt said this plays out with the development of a range of self-service tools for marketers that provide them with a simple automated tool to assist with annual planning and campaign pre-analysis.

"We've recently built a self-service tool to automate post campaign results that helps us understand the performance of all of our direct marketing campaigns in near real- time," Shortt explained.

"The tool offers drill-down capability to understand the performance of specific test cells within a campaign, or a drill-up view of the total performance of all customer engagement activities."

Externally however, CommBank is focused on how it uses technology to drive innovations in the customer experience.

"For example," Shortt explained. "Camera pay allows customers to use their phone's camera to scan a code to send and receive money to their CommBank account.

Commonwealth Bank
Commonwealth Bank

"This enhancement speaks to an element of our brand promise, to make it simple and easy for our customers to meet their banking needs."

For Shortt, a key priority is to build a team with "world-class" digital marketing capabilities.

"But this requires more than a system or a shift to in-house services," she cautioned. "Without engaged, informed and future- thinking marketers and business partners, the business benefit will not be realised and the marketing team will be ill-equipped for the future."

 

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