CBA follows NAB into social media with Dell exec

First National Australia Bank (NAB) did it – now Commonwealth
Bank of Australia (CBA) is taking to social media to enhance its
reputation.

CBA has therefore hired Andy Lark, Dell’s global marketing vice
president, as its own chief marketing officer.

CBA’s push into social media comes after national rival NAB
commenced a succelful marketing campaign on micro-blogging site
Twitter as well as other social media platforms such as
YouTube.

NAB used those website to “break-up” with the other banks just
before Valentine’s Day, aiming to attract mortgage switchers from
its other big three rivals – and the campaign paid off:

The bank registered a “significant increase” in the number of
mortgage customers switching from Commonwealth Bank of Australia
(CBA) and Westpac to NAB’s lower standard variable home loan rate
since the launch of the break-up campaign – by 43% and 37%
respectively, according to NAB’s group executive, personal banking,
Lisa Gray.

From July on, Lark is expected to help drive CBA’s social media
engagement.

Related articles:

NAB social media break-up campaign pays
off

Gauging the effectiveness of social media in financial
services

The case for social media engagement

E&Y hails new era in customer expectation

Australian banking challenges on the rise

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