In Episode 6 of Marketing Dividends presented by the AANA, Kevin Ramsdale, General Manager of Consumer Marketing at NAB, says to build credibility for marketing at the Board level there must be transparency about where the investment goes and what outcomes the investment generates.
“We will be crystal clear about the sales we generate for the marketing investment. We will sign up to an overall sales target for the year and the reason we can do that is through the power of data and analytics.”
In the video, Ramsdale says the key challenge for NAB is to focus on the key points in a customer’s life cycle and then communicate what’s different about what NAB’s offering to its customers. This need for competitive differentiation also applies to purpose.
“We are very conscious that if you’re not explaining how you are different, consumers won’t want to stay with you; they won’t want to use your product or services.
“We take the view that if you have a parity purpose you are not going to drive above parity growth, so I actually don’t see purpose and brand growth as mutually exclusive. They are actually inextricably linked. The key issue is how much of your budget do you put behind purpose based perception changing activity and how much are you putting in direct response demand conversion today?” Mr Ramsdale said.
‘Clarity of purpose’ is also very important to the people that work with NAB so the role marketing plays in internal communications and staff engagement is a key focus for NAB’s marketing team.
Video: Full Video