TV, Outdoor Still Dominate CommBank Media Spend: Marketing Boss

TV, Outdoor Still Dominate CommBank Media Spend: Marketing Boss
SHARE
THIS



CommBank’s acting CMO, Monique Macleod has revealed TV still takes the lion’s share of its media spend at the IAB’s Measure Up conference this morning.

With 33 per cent of Australia’s largest bank’s media spend, TV is sitting pretty. However, outdoor was nipping at its heels with 30 per cent.

Digital video made up 17 per cent of Australia’s third largest company’s spend, while the remaining 20 per cent was clumped together as “other” – meaning radio, print, search and whatever else you care to imagine were fighting for the not unsubstational scraps.

Perhaps more revealing, however, was Macleod’s use of a sales and marketing funnel, which would have ruffled a few feathers at the digital advertising love in. IAB boss Vijay Solanki couldn’t help having a dig at the conclusion of Macleod’s presentation saying it was “good to see a funnel; I haven’t seen one of those for a while”.

The reason is pretty simple. CommBank is very focused on the entire customer experience rather than digital’s stock in trade of last click attribution, performance and so forth as opposed to the much harder to measure long-term brand building metrics the CommBank is embracing.

“Customer satisfaction has been our stand out measure for some time,” she said.

Also interesting and a further warning to media agencies, which have put their eggs in the programmatic basket, Macleod said since bringing all programmatic and paid search buying in house in 2015, the cost of acquisition has dropped 20 and 30 per cent respectively.

However while the savings are a boon for the bank, Macleod argued the real reasons surrounded a broader trust and transparency issue.

“Customers are very, very clear about what they expect from us in terms of their data and how we utilise it, so we had to protect it,” she said.

“So we really felt the need to bring this in-house, because by bringing together our first-party data, with what we wanted to do in terms of our targeting and our messaging, we knew that we could deliver better outcomes. So far that’s what we’re seeing.”

What also came through load and clear was the increasing importance of digital in the bank’s acquisition strategy and the fact that actions speak louder than words.

In scrapping its $2 ATM fee the response on social was massive, said Macleod. And it was something pretty much the whole world new was really irking Australians and so by being first, the CommBank garnered more good will than you could imagine.

She also articulated about how digital was much more about about simple and easy solutions such as giving small business data analytics tools for free based on their customer data or even simple budgeting tools or mortgage calculators.

Please login with linkedin to comment

Comm Bank Monique Macleod

Latest News

The End Of Average: Why ‘Addressable Priming’ Is The Future
  • Opinion
  • Technology

The End Of Average: Why ‘Addressable Priming’ Is The Future

In this guest post, Wavemaker’s national strategy partner, James Boardman (pictured below), talks addressable priming and why it’ll be the end of average and the peak of creativity in media planning… For my entire career media plans have contained a large amount of average. I’m not talking about the quality of my planning skills (although […]

Opinion

by B&T Magazine

B&T Magazine
Apple “Not Against Digital Advertising” Despite Privacy Crackdown: Tim Cook
  • Technology

Apple “Not Against Digital Advertising” Despite Privacy Crackdown: Tim Cook

Apple’s new approach to digital advertising is set to go ahead in a matter of weeks, with advertisers warned to think about user privacy first. Previously, companies that sell mobile ads have relied on Apple’s IDFA (“identifier for advertisers”) as a way to identify specific users and offer targeted ads. But with Apple continuing to […]

by B&T Magazine

B&T Magazine
QMS’ pDOOH Platform Proving Campaign Attribution
  • Media
  • Technology

QMS’ pDOOH Platform Proving Campaign Attribution

As programmatic digital out of home (pDOOH) continues to help advertisers enhance their existing campaigns, digital outdoor media experts, QMS, is already seeing results pay dividends with the latest campaign for a Tourism and Travel sector client delivering over 2,000 tourist visitors who can be directly attributed from their exposure of the pDOOH campaign. The […]

Istanbul, Turkey - February 6, 2016: Woman in the car planning a route using a Google Maps application on Apple iPhone 6S. Google Maps is a most popular web mapping service for mobile provided by Google inc.
  • Technology

Apple Will Soon Help You Find Your Anything

For years now, Apple users have located misplaced iPhones and other Apple devices via the Find My app. In case you haven’t used it before, Find My tracks the locations of iPhones, iPads, laptops and even AirPods, meaning the whereabouts of each device will come up on a map if it’s ever lost. The app […]

by B&T Magazine

B&T Magazine
CBA & Football Australia Partner To Elevate The Women’s Game
  • Marketing

CBA & Football Australia Partner To Elevate The Women’s Game

Commonwealth Bank and the sport’s governing body, Football Australia, announced today that CBA will become the official naming rights partner and bank of the national women’s team, the Matildas, Junior Matildas and Young Matildas from August 2021. M&C Saatchi Sport & Entertainment supported Commonwealth Bank to bring the partnership together with Football Australia, and looks […]

Facebook Australia Celebrates Ramadan With Calendar Of Content
  • Media

Facebook Australia Celebrates Ramadan With Calendar Of Content

Facebook Australia is celebrating Ramadan with a range of initiatives including Lives, Reels, IGTV and more. To launch the initiative, Facebook has partnered with a number of Muslim creators and organisations, who will be sharing their perspectives of the holy month on both Facebook and Instagram. Facebook says the 30 days of content is part […]

CHIANG MAI ,THAILAND - March 31, 2018 : Close up Netflix website in laptop screen. Netflix being popular internationally.
  • Media

Netflix’s Challenge To Linear TV

Netflix’s real-time streaming service, launched in France, provides an unexpected alternative to television as the platform also announced a new deal with Sony. The program, called ‘Direct’, is a real-time service with a stream that covers five days, to prevent repeat programming. It was announced in November 2020 originally and rolled out fully in December […]

by B&T Magazine

B&T Magazine
The Economist Intelligence Unit Launches “EIU Viewpoint”, Political And Economic Analysis Platform
  • Media

The Economist Intelligence Unit Launches “EIU Viewpoint”, Political And Economic Analysis Platform

The Economist Intelligence Unit (EIU), a division of The Economist Group, has announced the launch of “EIU Viewpoint”, a new digital product that combines the EIU’s expert political insights, policy analysis, and economic outlook with forward-looking forecasts and proprietary data. “EIU Viewpoint” helps businesses, academics, governments, and financial institutions stay ahead of the shifting global […]

Hospital Research Foundation Continues Fight Against ‘The Beast’ In Latest Work Via KWP!
  • Campaigns

Hospital Research Foundation Continues Fight Against ‘The Beast’ In Latest Work Via KWP!

Adelaide-based creative agency KWP! brings more than one hundred volunteers together in an onscreen battle against life threatening diseases for the sequel to The Hospital Research Foundation (THRF) Group’s ‘Together Fight’ campaign. Two 30-second TVC’s feature the return of ‘The Beast’, who comes up against a young patient and army of real-life patients, researchers, staff […]