• Contact
  • Feedback
Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Facebook test a two-day wonder for CBA

31 August 2011 4:43PM
Commonwealth Bank closed off a social media marketing campaign after little more than two days - and more than three and a half weeks earlier than planned - after the promotion hit its target almost immediately.Andrew Lark, chief marketing officer at CBA, told the Advertising and Marketing Summit in Sydney yesterday that the tie-up campaign with Facebook Deals - launched on August 15 - was "a bit of a test".Lark said: "We had a model that this campaign would run for a two- to four-week period, with a target of 3000 to 4000 new accounts. The campaign sold out in 56 hours."It is a hugely efficient way to generate fans and new customers, and at incredibly low cost. This is not like producing a TV ad. The barriers to entry are... [down for] to everybody."B&T reported on Lark's talk at the summit yesterday. Nearly every notion of traditional marketing is coming to the end of its lifecycle, Lark said."The message is that we are rapidly approaching a point in time where the traditional marketing models actually won't work. The traditional notion of the pipeline, the funnel, we have got to question that. "We have to question traditional notions such as share of voice and the impact of correlating share of voice purely to revenue. Nearly every traditional notion of marketing is at the end of its life cycle."Transmitting messages is insufficient. You are going to have to work out how to drive participation. You are going to have to bring marketing a lot closer to IT and start building platforms on which your customers can participate."Lark took up the reins as chief marketing officer at CBA last month.He was formerly vice president at Dell and was responsible for leading the global marketing of its Public and Large Enterprise Group.But most of his experience in social media strategy arises from an earlier role at Dell, where he led the communications and online operation for the world's largest e-commerce site, Dell.com.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use