Jenny Williams spoke to Harry Lowes, Executive Manager - Digital Marketing, Commonwealth Bank about the campaigns that he’s admired most this year and why he things the financial services industry are often ‘first’ with digital media:
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I mentioned in my last post the importance of data in any truly customer centric strategy. The problem we have in digital marketing however is the sheer volume of data that we can gather. It’s easy to be obsessed with the collection of it and then become overwhelmed once we have it.
Lots of organisations talk about delivering a “customer centric experience” but how can you do this if you don’t really know who your customer is? By this, I am not talking about broad demographic segmentation models but quite personalised, specific information on the individual customer.
The interesting thing about social media is the breadth of areas within an organisation that it can touch. Unlike some marketing initiatives, which are all about a campaign, social media tends to be more about the relationship and the dialogue that customers (and potential customers) have with a company and each other in relation to a company.
Consumer recommendations are one of the most credible forms of advertising because people trust people. Peer to peer recommendations and word of mouth have long been recognised as powerful marketing tools. While online, most companies rely heavily on search ranking to drive traffic and awareness, social content in e-commerce is the merger of these two ideas and represents an incredibly important area for any online retailer to consider.
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