While marketing doesn't need to fundamentally change, Kevin Ramsdale, general manager of Consumer Marketing at NAB, said, marketers constantly have to adapt to the changes going on around them.
“Clearly what marketers constantly have to do, because we're so close to the marketplace, is listen to what customers want, in trying to help shape and deliver the businesses strategy,” Ramsdale said.
“So, really, marketers have to constantly be adapting. I don't think there has to be fundamental change but there is constant adaptation to what I required now to deliver for the business and to deliver for customers.”
Ramsdale sat down with MEC Global's chief strategy officer, James Hier, for episode six of Marketing Dividends presented by the AANA, where the pair discussed the challenges for marketers as well as the marketing challenged faced by the bank specifically.
Ramsdale said the main 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?," he said.
Watch the full interview below:
For more on AANA TV:
Marketing Dividends Episode Five: Marketing Academy
Marketing Dividends: Lion Australia's Matt Tapper on AANA TV
Marketing Dividends: Virgin Mobile's David Scribner on AANA TV
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