Andy Lark CommBank Pres
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Andy Lark CommBank Presentation, iStrategy Sydney closing keynote.
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Andy Lark CommBank Pres
- 1. www.istrategyconference.com Andrew Lark | Inside Out
- 2. Marketing 2.0 Five New “Ps” For Marketing in the Virtual Era Participate | Place | Produce | Play | Purpose Andy Lark | kiwilark | andy@andylark.com | andy.lark@cba.com.au
- 3. Welcome to the Virtual Era VIRTUAL ERA INTERNET 2010s ERA PC/CLIENT SERVER ERA 1990s MINI- Interaction 1980s COMPUTING (stream) 1960s MAINFRAME Information (search) 1950s 3 Andrew Lark | Inside Out
- 4. 13 hours 1 out of 8 4th 25% of 20,000,000 of video Married Americans join Facebook uploaded to couples met watched a fan page YouTube every online short video on every day Most Twitter minute their phone… Users 2/3 of internet 830,000+ Twitter Growing join 48% 9 in 10 67,000+ Seeking join LinkedIn at 1382% Facebook sharing daily users visit opinions of social Growth daily content others networks per year Facebook 2nd 25,000, 00 0,000 800, 000, 30% 38% on facebook Interacted most popular items shared 000 with a brand website in by Facebook people on 50% visiting daily Aus users every Facebook month (55 mins per day) Andrew Lark | Inside Out
- 5. Power Shifted 5 Confidential Andrew Lark | Inside Out
- 6. The • 65% of Facebook users post Expression monthly about products/companies Economy • 60% “Liked” a company due to friend’s post in last month • “51% of Facebook and 67% of Twitter users are more likely to buy since becoming a fan/follower 6 Confidential Andrew Lark | Inside Out
- 7. 7 Confidential Andrew Lark | Inside Out
- 8. Attention Shifted 8 Confidential Andrew Lark | Inside Out
- 9. 50% of Australians have a Smartphone 2007 2011 87% of mobile 80% of mobile customers not customers online online Andrew Lark | Inside Out
- 10. 80% of Twitter Usage is Mobile 10 Andrew Lark | Inside Out
- 11. “80% of mobile users watch TV with their devices in hand and 40% are using them for social networking” CMB Consumer Pulse 2009/2010. Andrew Lark | Inside Out Confidential
- 12. The Growth of “Companion” Activities 82% of Internet users now use Internet banking 12
- 13. 11/07 The month social usage surpassed email 13 Confidential Andrew Lark | Inside Out
- 14. Data Shifted Big Data will be powered by the lifestream 14 Confidential Andrew Lark | Inside Out
- 15. We Must Shift 15 Confidential Andrew Lark | Inside Out
- 16. P#1 Transmission is insufficient. Participate! Andrew Lark | Inside Out
- 17. Andrew Lark | Inside Out
- 18. Andrew Lark | Inside Out Confidential
- 19. Drive transparency & engagement Andrew Lark | Inside Out
- 20. Institutionalize listening Andrew Lark | Inside Out
- 21. Build platforms for engagement Andrew Lark | Inside Out
- 22. Facebook Deals……A new way to connect with customers Commonwealth Bank Free Movie Tickets with a George St new Everyday Account... Andrew Lark | Inside Out
- 23. P#2 Channels are transforming. Find your Place. Andrew Lark | Inside Out
- 24. More than a tablet or smart phone 24 Andrew Lark | Inside Out
- 25. Kaching Only one bank is truly mobile: • NFC payments via your mobile phone • Integrated with your debit and credit accounts • Peer to peer payments via address book, email and Facebook • The most secure form of mobile payment • Over 12,000 customer have pre-registered for Kaching 25
- 26. Andrew Lark | Inside Out
- 27. Andrew Lark | Inside Out
- 28. The Marketing Command Center 28 Confidential Andrew Lark | Inside Out
- 29. "No card, can't shop. Not happy" ”No Problem" Andrew Lark | Inside Out Confidential
- 30. P#3 Content is the differentiator. Produce! Andrew Lark | Inside Out Confidential
- 31. Infosumers vs. Prosumers Andrew Lark | Inside Out
- 32. 23% * Of social media messages Include links to 27,000,000 Pieces of content are content shared each day Enable linking. Mine Link data Andrew Lark | Inside Out
- 33. Content drives marketing efficiency Andrew Lark | Inside Out Confidential
- 34. Measure Expressions Andrew Lark | Inside Out
- 35. 146m views. 21m on content from Coke. Andrew Lark | Inside Out Confidential
- 36. Optimize for social platforms – 90% of views Andrew Lark | Inside Out
- 37. P#4 Seek new sources of engagement. Game on! Andrew Lark | Inside Out
- 38. Play and games enable brands to create rich, self-regulating playgrounds for their stories Andrew Lark | Inside Out
- 39. social media = Play Media Of 750 million Facebook users, Of the 410 minutes spent on 270 million are Zynga Gamers Facebook each month, 50% of all time is spent playing Social 20 billion valuation Games http://online.wsj.com/article/SB10001424052748704590704576092460302990884.html Andrew Lark | Inside Out http://techcrunch.com/2010/07/30/half-of-all-facebook-users-play-social-games-its-40-of-total-usage-time/
- 40. Chore Wars making housework exciting Andrew Lark | Inside Out
- 41. Centenary Time Vault – An Online Treasure Hunt in Facebook Driving Engagement in our Centenary What it is: • One clue a day for two weeks • Crack the clues by finding hidden Content online and in-branch • $2000 prize per winning clue • Winner is drawn at random each day After 6 Questions: • 11,230 registrations • 2.30 mins interacting with Time Vault. • 35% Increase in site traffic • 5,118 hype reel views • 10,000 new Facebook friends 41
- 42. So, why do you Exist? P#5 Purpose driven companies create more value, more promoters, more… FRS 2011 Andrew Lark | Inside Out
- 43. Your Purpose: – Explains why you exist – internally and externally – Becomes a decision filter for everything you do – Drives results Purpose-driven 4X revenue growth companies 7X rate of job outperform general 12 stock creation market 15:1 appreciation 43 Andrew Lark | Inside Out
- 44. Purpose drives energy and vitality Which response do you think an employee would rather give in answer to this question: what do you do for a living? • I load bags onto airplanes • I negotiate with vendors until • I work for a grocer that has they give me the lowest the highest profits as a price possible percent of sales, highest sales per square foot, and highest same-store-sales • I give people the freedom to • I improve the quality of life • I help provide food choices for fly for millions of Australians by people that nourish their helping them save money bodies, their communities and the planet Andrew Lark | Inside Out 44
- 45. You Must Be The Change You Wish To See In The World Mahatma Gandhi Andrew Lark | Inside Out
- 46. Andrew Lark | Inside Out
- 47. www.istrategyconference.com Andrew Lark | Inside Out
Editor's Notes
- 500,000 people online for the first time every day1.8 Zetabytes this year
- Currently in PilotVision Our vision for CBA social media channel is: To be the Group - wide ‘water cooler’Mission Our mission for CBA social media channel is: Encourage and foster creativity, innovation and knowledge sharing through open and transparent conversationsHighlightsEfficiency: members are finding answers to questions that may have taken them weeks to answer using existing meansNetworking: Yammer is connecting people, breaking down silos, provides opportunities across the workforceKnowledge sharing: Members are sharing information in an open and transparent mannerMembers are having conversations that are simply not possible otherwise in such a large and dispersed organisationTime irrelevant: People use Yammer at all times, including after hours, to share info and converse.Uses:Crowd source information– staff have access to get fast, accurate answers or feedback to questionsGet feedback on business ideas Share insights GrowthAfter an initial slow start, the channel has seen significant organic growth, without internal promotion or funding. <100 to >3000 users in under 6 months.Activity>100 interest groups >70 messages per day ExampleAn employee has an upcomingroad show, they use Yammer to ask for any questions that the community want raised. Due to the interest in the topic the employee blogs about the road show.SummaryYammer taps intoa wide range of people and ideas across our the organisation
- OUR OBJECTIVEAfter not achieving our target of becoming #1 in Customer Satisfaction by June 2010, and the consequent backlash from the public due to November’s interest rate rise - staff engagement/moral had taken a hit, our Brand Reputation had been negatively affected We wanted to demonstrate our commitment to the community (in a fun, new and engaging way) and deflect some of the negative press and sentiment that had arisen, as well as reconnect and engage with our people THE CAMPAIGNCommunity Seeds was a non-traditional fundraising campaign fusing internal communications, experiential and social media to allocate $175,000 across six different charities HeartKidsOzHarvestSANE AustraliaAlzheimer's AustraliaA Start in LifeBowel Cancer AustraliaThe allocation of funding was dictated by people selecting their preferred organisation and voting on Facebook, as each vote equates to $1 of the our money. The sooner the online community got behind this initiative, the sooner the money got allocated! The initiative was housed on our Facebook page: Prior to launch, Commonwealth Bank staff voted on six community organisations out of a shortlist of 12. Allowingus to directly engage with staff and allow them to have a say in which Australian charities should receive the Bank’s money – this was a first forCommonwealth Bank . Staff had two weeks to vote – 1,200 staff selected the six charities which were then used at launchTHE RESULTSLaunch date 10 May – 28 June - live for 7 weeksTotal votes = 30,000Total amount of money donated = $150,000 + 20,000 for the winning charity $5,000 for the most influential Facebook user and $5,000 for their charity 86% of voters “Liked” the Commonwealth Bank Facebook Page (we intentionally made it so that you didn't have to “Like” us in order to participate – so this is a great result)HeartKids lead the way from the first day of launch:HeartKids – $40,100 + $20,000 (For being the winning charity) A Start in life – $23,390 + $5,000 (Following Ashley Chan’s win)Alzheimer's Australia – $23,775 Bowel Cancer Australia – $21,925SANE Australia – $20,630 Oz Harvest – $20,180 Total Facebook comments around Community Seeds was 1,110Total unique visitors to the Community Seeds page was 61,820PR: 73 Online articles / mention, 29 Radio clips, 10 Print coverage, 1 TV / 30 blog posts / 21 internet posts TOTAL 164 clips Circulation: 9,262,418
- Campaign description: Re-launch of Commbank on mobileObjective: Respond to our mobile audience needs – provide best practise native mobile utility. Make banking easy on the go. Anywhere, anytime, always onNew FX App: only major bank with over 30 currencies and provision of currency alertsResults: Since launch on July 11, over 100,00 ‘new’ downloads and over 700,000 ‘updates’. 4.5 star rating in the App store, Over 2,300 active alerts have been set up for FX
- Overview:The CommBank Property Guide iPhone app is like your own personal real estate agent, property analyst and home lender – pocket sized and free from the Apple store. Along with access to rich property insights on the greatest range of residential properties in Australia, our toolkit of support material will help consumersmake the right property choice with videos, a repayment calculator, property hotspots, and the RP Data Automated Value Guide. Objectives: Provide trusted advice throughout the home buying journey> Talk to customers in a relevant moment when they’re actively searching for a property> Utilise a relevant channel for property search, the mobile.Provide rich content and relevant data – we provide Augmented Reality technology combined with rich data from Australia’s #1 Home Lender, the #1 Real Estate site, realestate.com.au & #1 Property Data company, RP DataResults:Over 170,000 app downloads since launch in July 2010Contact forms and click to call a lender have been widely used, and have driven significant loan applications.
- The Harringtons – 4 short online videos designed to have an ‘unconventional’/’un-bank like’ conversation with a market that that hasn’t previously been receptive to conventional messaging around the value of a financial planning relationship. Objective: To support the broader ‘Value of Advice’ campaign (approx $3M spend) which was tasked to re-launch our new value positioning and drive referrals. Launch: It was launched via YouTube and also the CommBank site; and to date has 120,000 views. Success: The entire campaign effort saw a significant uplift in referrals (10% year on year increase compared to historical 9% YoY decline) to Commonwealth Financial Planners and returned a 322% ROMI during the 4 month campaign period. Details:Total Youtube views: approx 90% of total viewsTotal Commbank views: approx 10% of total viewsEpisode popularity varied demonstrating that the videos did not need to be watched sequentially as originally thoughtOf all media, Youtube Promoted Videos by far the most effective means of driving traffic to the videosCommbank.com.au worked well, but views dropped off significantly outside of campaign periodNext step: Improved customer pathing to application from viewing the videos
- Firms of EndearmentJim CollinsHarvard Research